Sales of solar panels go through the roof…
Sales of solar panels have surged over the past year, according to latest data, as eco conscious homeowners look to tackle the cost of living crisis and climate change.
Purchases of solar panels are up 217% year on year, while the solar and wind energy category as a whole is up 289% over the same period, data from online marketplace OnBuy.com shows.
According to industry experts, the increase is a direct result of the cost of living crisis, which has sent energy bills spiralling since the start of the year.
And following stark warnings about the future of the planet at the United Nations Climate Change Conference (COP 27), the trend is expected to carry on into 2023.
According to a 2021 Office of National Statistics survey, three quarters (75%) of adults in Great Britain were worried about the impact of climate change. This number is likely to have increased over the past year.
Elsewhere, the cost of living crisis is forcing households to reconsider their finances and energy consumption.
According to a 2022 Office of National Statistics survey, three in four adults (77%) reported feeling worried about the rising cost of living.
These factors have resulted in households looking for different energy options, with solar panels having the potential to save households hundreds of pounds each year on bills.
According to MoneySavingExpert, households with a 4.2 kilowatt peak system could save between £210 and £514 on bills – all by using solar generated electricity.
In addition to this, under the smart export guarantee (SEG) scheme, households can be paid for any extra electricity they create.
A typical household, located in the middle of the country, could earn between £80 and £100 a year through this scheme, it is estimated.
Liam Tickner, home and garden category manager at OnBuy, said: ‘We are living through unprecedented economic and environmental times, and people are reacting to this.
‘Compared to last year, sales of solar panels and similar items have skyrocketed. We believe this trend will continue for the foreseeable future.
‘Not only are people worried about saving money, but the environment is on people's minds, and as a society we are all looking for ways to be greener.’