MINTEL research shows strong UK support for solar installation
New research from MINTEL reveals that 60% of UK consumers would consider installing solar panels in the next 5 years.
The recent report suggests that support for renewable energy sources is strong amongst UK consumers, with 77% saying that they believe we should be generating more electricity from renewables. The cost of installing solar PV has dropped significantly since 2010 and this combined with consumer concern over high energy prices means there hasn’t been a better time to invest in domestic solar.
How Do People Want to Pay for Solar?
Of the consumers considering solar, 39% said they would choose rent-a-roof schemes as a method of installation. Only 23% said that they would purchase solar PV systems outright, a surprising figure considering the money they could earn from the Feed-in Tariff (FiT). The report did however illustrate a lack of awareness for FiT, with only 55% of respondents saying they had heard of it. Potential payback from this government scheme can be found using the solar PV tariff calculator.
What are Consumers Concerns about Solar?
30% of the consumers who would not consider solar said it was because they believe their property is not suitable for solar installation, something that can be answered by an installer survey. This is followed closely by the worry of maintenance and replacement costs at 29%. Many homeowners were also unsure if they would live in the property long enough to benefit from solar panels but only 15% had concerns about how solar panels could affect the price of their home.
Will UK Solar See Growth in 2015?
MINTEL’s research suggests that solar in the UK will experience a strong growth of 30% in 2015, reaching 7.1GW of capacity. Of this, 40% is predicted to be ground mounted and the other 60% roof mounted. Claudia Preedy, Senior Industrial Analyst at Mintel has commented that “demand for solar panels has exploded since 2010 and there continues to be strong growth potential”. These predictions have been echoed by a solid start to the year for solar which looks set to continue.
Take advantage of the current low installation costs for solar PV and get free quotes from MCS certified companies.