Property expert Phil Spencer has revealed he plans to install more solar panels on his house in Hampshire, as energy bills are forecast to rise again this winter.
Spencer, presenter of Location, Location, Location, told This is Money that his Hampshire house already had solar panels installed when he bought it several years ago after moving out of London.
"It was a real comfort to me to be able to be shown how much they generated per year, so I could see money coming in," he said. "I'm always encouraging people nowadays - it's not just buying the house. You've got to live in the house, you've got to maintain the house, you've got to heat the house. There's no question of doubt that energy is becoming more expensive."
Research commissioned by Wickes found that 15 per cent of UK homeowners currently have solar panels installed, while 53 per cent of current buyers will actively look for homes that rely in some way on solar power.
Spencer, who is a Wickes brand ambassador, said he had weighed up installation costs against the years it would take to pay them back before adding more panels to his own home. "I'm going to be in the house for 10 years, the solar panels will pay back in about seven - so it works," he said.
Winter price warnings
Spencer's comments follow warnings of more expensive energy bills this winter amid a drop in gas storage levels, which has pushed up the price of wholesale gas.
Despite the heatwave currently sweeping Britain, there are fears that energy costs will rise sharply in the colder months because of a volatile market caused by the war in the Middle East.
Gas storage levels across Europe have reached a historic low of 54 per cent, according to Wood Mackenzie, meaning just over half of total net storage capacity is filled. Typically, by this point in summer, storage has been refilled to 70 per cent of capacity.
As traditional energy costs become more volatile, solar panel enquiries are on the rise as Britons look for more sustainable ways to power their homes.
Spencer said: "I've been really looking at our bills, where I think our bills are likely to go in the years ahead, the cost of insulation, and that is balanced against the money that we're going to save and the length of time we're going to stay in the house. It's all about payback time. It's definitely becoming more popular with buyers because they are more conscious of the costs of running a house."
However, Spencer said there are scenarios in which he would not recommend installing solar panels, notably if the homeowner is not planning to stay in the house long-term.
What Wickes says
David Draper, chief executive of Wickes Solar, said solar panels can help some households generate their own electricity and may reduce reliance on energy from the grid over time.
"The potential benefits and savings will vary depending on a range of factors, including the size and orientation of the roof, shading, household energy usage and whether battery storage is installed," he said.
Draper added that homeowners considering solar should look at potential wider benefits alongside energy savings. "Solar panels could have a positive impact on your home's EPC rating, which may positively impact home value, although this will depend on the individual property and wider market conditions," he said.
"As with any home improvement, homeowners should seek professional advice to understand whether solar is suitable for their property and what they could realistically expect in terms of performance and costs."
Tips for solar panel owners
Experts at Wickes shared advice for getting the most out of solar panels:
- Keep an eye on new shade: New trees and hedges growing near panels can restrict their access to sunlight, so surroundings should be monitored.
- Maintain your garden: Regularly pruning trees and shrubs prevents shade forming over panels.
- Monitor energy generation: Tracking output helps identify an early drop in production.
- Call in a professional: A sustained drop in energy generation should prompt a specialist inspection.
