Property expert Phil Spencer is advocating for the installation of more solar panels on homes, citing concerns over escalating energy bills and market volatility. Spencer, who is a brand ambassador for Wickes, revealed his own plans to add more solar panels to his Hampshire residence.
He noted that his current home already had solar panels when he purchased it, and the income generated provided a significant comfort. "I'm always encouraging people nowadays - it's not just buying the house. You've got to live in the house, you've got to maintain the house, you've got to heat the house. There's no question of doubt that energy is becoming more expensive," Spencer stated.
His advice comes as energy bills are forecast to increase again, with warnings of higher costs this winter due to a drop in gas storage levels across Europe. These levels have reached a historic low of 54 percent, significantly below the typical summer refill rate of 70 percent. Geopolitical factors, including the conflict in the Middle East, are contributing to a volatile energy market and rising wholesale gas prices.
Spencer emphasized the importance of calculating the payback period for solar panel installations. He explained his personal calculation: "I'm going to be in the house for 10 years, the solar panels will pay back in about seven - so it works." This financial assessment is crucial for homeowners considering the investment.
Research indicates a growing interest in solar power among UK homeowners. According to data commissioned by Wickes, 15 percent of UK homeowners currently have solar panels installed, and 53 percent of prospective buyers actively seek homes with solar power capabilities. This trend reflects an increased awareness of running costs and a desire for sustainable energy solutions.
However, Spencer cautioned that solar panels may not be suitable for everyone. He specifically advised against installation for homeowners who do not plan to stay in their property long-term. The decision to invest in solar should be balanced against the length of occupancy and the potential for long-term savings.
David Draper, CEO of Wickes Solar, elaborated on the benefits and considerations of solar panel installation. "Solar panels can help some households generate their own electricity and may reduce reliance on energy from the grid over time," he said. Draper added that potential benefits and savings vary based on factors such as roof size and orientation, shading, household energy usage, and the inclusion of battery storage.
Beyond direct energy savings, solar panels can also positively impact a home's Energy Performance Certificate (EPC) rating, potentially increasing its value. "As with any home improvement, homeowners should seek professional advice to understand whether solar is suitable for their property and what they could realistically expect in terms of performance and costs," Draper advised.
Experts at Wickes also shared tips for maximizing solar panel efficiency. These include monitoring for new sources of shade, maintaining garden foliage to prevent shading, regularly checking energy generation output to detect any drops, and consulting a specialist if a sustained decrease in performance is observed.