A new report commissioned by OVO reveals that more than 13.7 million homes in the UK could save a total of £5.6 billion on energy bills by installing solar panels, collectively reducing carbon emissions by 14.8 million tonnes annually.
The analysis, conducted by the Building Research Establishment, found that 48% of the nation’s housing stock is eligible for solar panels but currently lacks them.
The report estimates that each household could save an average of £410 per year, based on the latest energy price cap of £1,717.
However, the current pace of solar panel installation – approximately 163,366 homes per year – suggests it could take 84 years to achieve widespread adoption unless more incentives are introduced.
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