27 Aug Will rising economic optimism see an increase in solar panel uptake?
Data collected between January and June 2024 has shown a significant decrease in the number of solar panel systems installed on properties in England when compared to the same period in 2023, but could this downward trend be reversed by rising economic optimism?
The positive impact of more stable energy prices
Energy prices are currently more stable than they have been in quite some time, which is likely to have a positive impact on the number of households looking at more sustainable options.
Similarly, the country’s economic growth prospects are improving, the cost-of-living crisis is easing, and the political landscape is stabilising following the election of a new government. Experts believe each of these factors will play a role in the uptick of interest in solar energy systems.
The government’s push towards cleaner, greener energy
The UK’s prime minister has joined forces with the Welsh first minister in a bid to make Britain one of the world’s clean energy superpowers. Experts believe this considered push for greener energy solutions is likely to increase the number of solar panel installations across the country throughout the rest of 2024 and beyond.
Research shows that 35% of people who currently don’t have a solar panel system installed on their property state they are likely to switch to solar energy within five years.
While the appetite is there for a greener energy landscape, the same research found that 90% of households think there should be much better government incentives for homeowners who choose to invest in renewable energy solutions.
Looking to the future
Investing in solar energy has a number of benefits, including energy independence and savings on energy bills. If you are looking for an installer of solar panels Cheltenham, such as https://gsmlimited.com/services/solar-panels/cheltenham, look for teams that have demonstrable experience in installing high-quality systems. This will ensure you will obtain the best return on your investment.
Renewable energy solutions are the future and could help to prevent customers from being impacted by future sharp increases in energy costs.