Solar panel owners report better heating and cheaper bills

According to recent Halifax research, homeowners and landlords may be able to save money and energy by installing solar panels.

Rising energy costs are now owners' top concern, according to a survey of 2,000 owners. Of them, 49% cited this as a major difficulty, and this was the biggest motivator for them to enhance their properties' energy efficiency (39%).

More than half (56%) of respondents claim to have updated their homes recently by installing solar panels, double glazing, or insulation.

The benefits of installing solar panels are well-documented. Eighty-nine percent of solar panel owners express gratitude for their installation, eighty-three percent say they would suggest them to friends and family, and eighty-four percent say their energy expenses have decreased.

Furthermore, more than half (51%) of respondents reported that an updated EPC with a higher rating had increased the energy efficiency of their house.

Energy Saving Trust believes that switching to solar power might result in annual energy bill savings of between £400–500.

Installers of solar panels can also profit monetarily from excess energy by either selling their surplus energy back to the grid or getting paid for it under the Smart Export Guarantee (SEG).

Andrew Asaam - Homes Director at Halifax - says: “With concern around the cost of energy bills  and the climate crisis intensifying, more of us are looking for ways to bring down our energy usage. 

“Transitioning to solar power can be a fantastic option to help reduce bills over the long-term, especially when combined with a home battery or other energy efficient measures such as the right loft insulation and energy saving light bulbs.

“We want to encourage more homeowners across the UK to make the switch to solar energy but understand it can be a significant investment. That is why we are introducing a £1,000 discount, available to customers who apply before 21st April.”