With over half a million Britons already having solar panels at home, solar power is gaining in popularity and it is time for more homeowners to consider switching, Frans van den Heuvel, CEO of Solarcentury says.
Interest in home solar is surging across the UK – already around 650,000 homeowners have installed solar – and I support the Solar Trade Association’s drive for two million solar homes by 2020, Van den Heuvel comments.
Incoming energy minister Amber Rudd has called to ‘unleash a solar revolution in the UK’ – with the right political support, more solar installed in the UK can improve the UK’s energy security, enable homeowners to have greater financial freedom and help the UK achieve its carbon reduction targets. But we need consistent and positive political support, along with a combined industry effort to help consumers understand how solar can benefit them.
Solarcentury recently polled UK consumers to better understand people’s aspirations and attitudes to solar, and uncovered a number of misconceptions that are holding back mass adoption of solar in the UK. Of course, cost is a key consideration for people and we found some confusion about the investment opportunities, with many expressing concern that they had felt they had ‘missed the boat’ on securing the best Feed-in-Tariff (FiT) rates.
The fact is that now is the best time to buy because solar energy is more affordable than it’s ever been: it is now 100 times cheaper than it was 35 years ago. An average-sized system (4kWp) can pay for itself in seven to eight years, and earn a return of £20,000 over 20 years, Van den Heuvel says.
Buying solar is actually an astute financial investment – it can save you thousands and also generate a tax-free income via the FiT – that can even help with home re-sale. Investing in solar can provide better returns than a cash ISA, generating a 10% tax free return each year (depending on size of system) from the FiT. The homeowner is paid for every unit of electricity the panels generate while also saving by not having to buy energy from a supplier.
Although the FiT rate will likely keep falling, given it was always the intention to eventually work unsubsidized in the UK, installing solar now still makes financial sense. And with further changes to the FIT expected next April for new solar installations, now is a savvy time to invest as the FiT rate is secured at the time of installation.
In our poll, 91 per cent of UK adults said they want lower energy bills and 81 per cent want their home to be more eco-friendly. But a huge number are being held back because of how solar looks -58 per cent of homeowners say solar panels that sit on the roof are too unattractive, with 86% wanting new additions to their home to ‘look stylish’.
At Solarcentury, we don’t just think good design is a nice-to-have; we think it is essential to getting the UK switched on to solar. Typical protruding solar with blue panels and silver framework can be a thing of the past, as technological improvements are now enabling far more sophisticated yet affordable solutions, like our new Sunstation panels.
The good news is that the UK installed more solar panels than any other EU country last year. However, the installed capacity here is still five times smaller than that of Germany so it’s clear we still have some way to go to. If we can overcome consumer misconceptions, though, and have vocal political support for solar, the UK could lead the way.
Founded in 1998, Solarcentury is a manufacturer of solar panels that has helped 20,000 people in the UK to switch to solar energy.
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