The future is looking bright for the solar power market as new research from Mintel finds as many as 60% of UK consumers would consider having them installed in the next five years.
Free panels installed through a ‘rent-a-roof’ scheme are proving to be the most popular option, with as many as four in 10 people who do not currently have solar panels installed on their home considering this option in the next five years.
Today, of homeowners who have fittings on the roof of their home, the vast majority (69%) have paid for the panels and installation themselves, whilst 22% have opted for free panels through a ‘rent-a-roof’ scheme. The remaining consumers who would consider solar panels would finance them by personally purchasing them (23%) or using Green Deal finance (26%).
Meanwhile, some 40% of Brits who do not have panels on their home would not consider installing them in the next five years. The key reasons for people not considering having panels installed include: they believe their roof is not suited (30%), concern about replacement or maintenance costs (29%) and that they do not plan to be in their current home long enough to benefit from the financial savings they offer (24%).
Only 15% of people are concerned about how panel fittings would affect the price of their house, suggesting that this is only a small deterrent, while less than one in ten (8%) said they do not spend enough time in their home during daylight hours to benefit from the daytime electricity generated by these panels.
Lauren Massey environmental PR specialist of Pelican’s specialist environmental and waste management team commented: ‘This could be the start of a sea-change in consumer attitudes to renewables. Whilst many people have complained about wind turbines, they appear to be a lot more relaxed about solar. Maybe the key learning here is that incentives clearly have the ability to motivate people to take a more positive view of renewables.’
The majority of people (55%) have heard of the government’s ‘Feed-in Tariff’ (FIT) scheme, 50% have heard of ‘rent-a-roof’ schemes, with slightly more people (54%) are aware of the ‘Green Deal’ finance scheme. Free solar panels installed through a ‘rent-a-roof’ scheme are proving to be the most popular option, with as many as four in 10 people who do not currently have panels installed on their home considering this option in the next five years.