Research from the Building Research Establishment has revealed that almost half (48%) of Britain’s homes are suitable for solar panels, yet they remain uninstalled.
The study suggests that the country could collectively save over £5.6 billion on energy bills by embracing this eco-friendly technology.
This translates to an average annual saving of £410 per household before factoring in additional savings from pairing this with a battery, nearly a quarter of the projected £1,717 average yearly energy bill following the October energy price cap. The report also underscores the pressing need to speed up the deployment of solar panels across the UK.
Given the current rate of solar panel installation in 163,366 homes annually, it would take 84 years for every eligible household to adopt this greener technology unless further steps are taken to boost uptake.
With the Ofgem energy price cap rising to 24.5p per kWh, the installation of solar panels could help households become more self-reliant and less susceptible to market fluctuations.
If the UK fully exploited its domestic solar power potential, it is estimated that 28.5 TWh of renewable energy could be produced, enough to charge all of the UK’s EVs (1.2m) for nearly a decade (9.8 years).
By adopting solar energy, the country could potentially reduce carbon emissions by up to 14.8 million tonnes annually, equivalent to taking over half of the UK’s petrol cars – about 10.1 million vehicles – off the roads for a year.
Professor Alastair Buckley, Academic Director at Sheffield Solar and Professor at the University of Sheffield, commented on the report commissioned by OVO: “This report commissioned by OVO is much needed and highlights the importance of residential solar for reaching net zero targets.”
He further stated, “Unlike commercial and utility scale solar the residential market has been slower to respond to the increase in electricity prices and needs to be spurred into action. Findings show that around half of all homes (less than half in London and more than half in the North) are suitable for solar. With yearly savings of around £400 on electricity and more than 20 year system lifetimes residential solar is a very sensible investment.”
In England, Scotland, Wales, and Northern Ireland, an astonishing 12.1 million, 474,000, 684,000, and 387,000 homes respectively are suitable for solar panel installation but have yet to utilise this energy source.
Additional consumer research from OVO indicates that solar panels top the list of preferred green technologies among UK residents who wish to see the country become a leader in clean energy, with 65% favouring government prioritisation of solar, followed by wind power at 56%, and building energy efficiency improvements at 49%.
Despite 65% of Brits recognising that high upfront costs are a significant barrier to adopting solar energy, a surprising 60% are unaware of the financial assistance or schemes available to help with the installation of solar panels. Moreover, 67% feel it’s imperative for the government to prioritise solar energy initiatives.
Alarmingly, 68% of people are also oblivious to the fact that their potential savings could soar if they added a battery to their solar setup.
OVO’s Head of Solar and Storage, Scott Duncan, remarked, “To help meet the new government’s target to triple solar power in the UK by 2030, we need to knock down the barriers for customers to make the switch to solar. This new analysis shows that the UK’s rooftops have huge untapped solar potential to generate renewable energy, save money off bills and cut carbon emissions.”
Duncan further stated, “We are ready to play our part, which is why customers can bank free solar panels through OVO Beyond, spread the cost over time with 0% financing and get paid for excess energy they export back to the grid.
“As of this week, we’ve introduced our UK-first Battery Boost add-on which enables customers to charge up their solar batteries when there is less sun for just 10p/kWh, for additional savings of up to £120 at no extra cost.”
