High costs ‘putting people off getting solar panels’

Many households are being put off installing rooftop solar panels because they’re too expensive, a thinktank has warned.

According to the Resolution Foundation, rooftop solar panels could help low-income households cut their energy bills by almost a quarter.

But figures show that less than one in ten households have them installed in their property, as many believe they cost too much.

The Resolution Foundation said a 3KW solar panel currently costs about £6,500, which it called a “steep ask” for low-income households.

However, it argued that rolling out rooftop solar panels to low-income households could lift as many as 1.2m families out of fuel poverty.

What can be done?

The Resolution Foundation has suggested that the government consider offering means-tested grants or loans to cover upfront costs.

Zachary Leather, an economist at the thinktank, said any support scheme should form part of its upcoming Warm Homes Plan.

“This could really get the ‘rooftop revolution’ up and running and ensure that the consumer benefits from this net zero transition aren’t just hogged by richer households,” he commented.

How much could a family save with solar panels?

According to the Resolution Foundation, 3.6m families spend over a tenth of their disposable income on energy bills.

But estimates suggest that if they had rooftop solar panels installed, they could cut their energy bills by 24%.

This, it stated, would give “much-needed relief to many families still feeling the pinch of the cost-of-living crisis”.

The thinktank also calculated that a family who uses a typical amount of energy could save up to £440 a year with a 3KW solar panel, as they’d be buying less energy and able to resell any excess power back to the grid.

“Rooftop solar panels can cut poor households’ energy bills by around a quarter and their returns compare well with other bill-cutting measures,” Mr Leather said.

“But despite this win-win scenario, too few families, particularly in poorer areas, are getting them installed.”