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  • Writer's pictureSarah Ruivivar

Solar Panels: A Bright Idea for Lower Bills?

Image credits: Bill Mead / Unsplash

Are you feeling the pinch from rising energy bills?


You're not alone.


Halifax's recent survey of 2,000 homeowners reveals that escalating energy costs are the top concern for nearly half (49%) of respondents. But here's a ray of sunshine: homeowners who've switched to solar power are reaping the benefits.


The survey shows that the fear of soaring bills is the main catalyst driving homeowners to make energy improvements to their properties, with 39% citing this as their motivation. Over half (56%) have recently made energy-saving adaptations to their homes, such as installing insulation, double-glazing or solar panels.


And it seems the sun is shining on those who've opted for solar panels. A whopping 89% of solar panel users are glad they made the switch, with a similar proportion (83%) ready to recommend them to friends and family. Even better, over four in five (84%) report a reduction in their energy bills.


 

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But the benefits don't stop there. Over half (51%) have seen their home's energy efficiency improve, reflected in an updated Energy Performance Certificate (EPC) with a better rating.


According to the Energy Saving Trust, homeowners could make annual savings of around £400-500 on energy bills by harnessing the power of the sun. Plus, under the Smart Export Guarantee (SEG), those with solar panels can profit from excess energy by receiving payments or giving energy back to the grid.


Andrew Asaam, Homes Director at Halifax, encourages homeowners to consider solar energy as a long-term solution to reduce bills. He suggests combining solar power with a home battery or other energy-efficient measures, such as proper loft insulation and energy-saving light bulbs.


Halifax is keen to help more UK homeowners make the switch to solar energy and is offering a £1,000 discount to customers who apply before 21st April. So, it might be time to let the sun shine on your energy bills!


 

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