Project Solar UK undertook research with 1,000 people across the UK and found they are actively looking for alternative energy sources such as solar panels based on recent price hikes with 43% stating that they would switch to energy sources like solar panels if their electricity bill increased by upto 50% in 2022 as widely predicted.
According to the survey released today by Project Solar UK, 55% of Brits think the advantages of solar panels are because they create cheaper electricity, 27% say solar panels add value to a property and 35% say solar panels help with sustainability plans to become carbon neutral. Interestingly, 36% think the benefits of solar are they generate electricity even through winter when there is minimum sunshine.
But it is the uncertainty around the price of electricity that is a key concern for residents with Project Solar UK, the UK’s leading retailer and installer of solar panels, seeing a 24% increase in visits to its website between 1st and 29 March – a 114% increase on hits to the information site on the same period last year.
Simon Peat, CEO of Project Solar UK says, “We saw that 62% of people surveyed in the UK would consider switching to solar with 8% stating that they would definitely move to this sustainable energy source even if prices increased by only upto 10%. A major benefit for people who install solar energy systems in their home is that they can actually sell their electricity back to the grid – a feature only acknowledged by 32% of UK residents surveyed but one that many people will welcome as the cost-of-living increases.”
“From April there will be a cut in VAT on solar panels from 5% to zero which, according to the Chancellor in the spring statement, could see a family having solar panels installed having tax savings worth over £1,000 and savings on their energy bill of over £300 per year.”
Project Solar UK, which has a base in Houldsworth Mill in Stockport, has delivered over 45,000 solar panel installations helping to save 4,900 tonnes of carbon per year.