Solar panel installations surged 41% last month as households look to cut bills
The number of households installing solar panels surged last month, according to new data.
More than 17,000 households installed solar panels in March, according to Coventry Building Society - a 41 per cent increase on the same month last year when around 12,200 were installed.
In 2025 so far, solar panels have been installed on more than 45,000 homes - an increase of 28.6 per cent.
The rate of installations peaked in 2011 with more than 200,000 installations during the year.
This followed the launch of the feed-in tariff scheme, which meant solar panel users could export excess energy back to the grid and get paid for it.
This dipped in subsequent years when Government support was scaled back but it has rebounded recently.
Sophie Mason of Coventry Building Society said: 'Whether people are looking to do their bit for the planet or keep their energy bills down, solar panels are proving to be a popular investment.
'The momentum we're seeing now seems to be driven by consumers looking for long-term solutions amid rising energy bills and growing climate awareness.
'While the upfront cost can be a barrier, it's important to view solar panels as a long-term investment and remember there are schemes available which can help.'
How much money do solar panels save?
The main drawback of installing solar panels is the upfront cost.
A typical three-bedroom home installing a 4.5kW system will have to fork out £7,500 for installation, according to the Federation of Master Builders, rising to £9,800 if they also want a battery to store excess power.
That means it could take 12.7 years to break even or 10 years with a solar battery included.
It takes fewer years to make your money back with a battery, as stored energy can be saved and used at times when the cost of power is highest.
For most households, the main benefit is that installing solar panels can save hundreds of pounds a year on bills.
A typical three bedroom home installing a 4.5kW system will save £261 a year on energy bills, the Federation of Master Builders says.
This saving could be increased to £579 for households that use the Government's Smart Export Guarantee scheme.
This allows households to earn a passive income from their solar panels by selling power back to the grid.
This can be further helped by buying a solar battery. Solar batteries allow households to store the excess energy they generate.
The FMB says the average household can earn around £75 annually by installing a solar battery.
This month, the energy price cap which governs gas and electricity bills for those on variable tariffs went up by £111 per year for the typical home to £1,849.
It is the third time in a row that the price cap, which is reassessed by Ofgem every three months, has gone up.
Best mortgage rates and how to find them
Mortgage rates have risen substantially over recent years, meaning that those remortgaging or buying a home face higher costs.
That makes it even more important to search out the best possible rate for you and get good mortgage advice.
Quick mortgage finder links with This is Money's partner L&C
> Mortgage rates calculator
> Find the right mortgage for you
To help our readers find the best mortgage, This is Money has partnered with the UK's leading fee-free broker L&C.
This is Money and L&C's mortgage calculator can let you compare deals to see which ones suit your home's value and level of deposit.
You can compare fixed rate lengths, from two-year fixes, to five-year fixes and ten-year fixes.
If you're ready to find your next mortgage, why not use This is Money and L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you.
> Find your best mortgage deal with This is Money and LC
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