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Are solar panels worth it? Our report reveals all.

27 January 2025 | OVO

There’s a lot of space on our rooftops which isn’t being used for much aside from giving birds a place to perch. So what if all this unused space across the UK was taken up by solar panels? How much power would that generate? How much would we collectively save on energy bills? Would it actually be worth the effort?

We worked with leading independent researchers at the Building Research Establishment on a report to delve deeper into these questions. Here’s what we discovered.

The power generating potential is huge

There are around 13.7 million homes across the UK that are ready for solar panels – nearly half of all residential buildings. England has the most eligible homes (12.1 million), followed by Wales (684,228), Scotland (474,000) and then Northern Ireland (397,800). 

The report found that installing solar panels on all these rooftops could dramatically reshape the UK’s energy use. These installations would generate 28.5 terawatt-hours (TWh) of renewable energy every year. That’s enough power to charge all of the UK’s 1.2 million EVs for almost 10 years.1

The infographic shows that 13.7 million UK homes could have solar panels but don't, and installing them could generate 28.5 TWh of renewable energy annually.

There would be environmental benefits too

Getting more solar panels installed on UK homes would have a positive environmental impact, potentially reducing carbon dioxide emissions by 14.8 million tonnes each year. This is the same as taking 10.1 million of the UK’s petrol cars (more than half) off the road for a year.2 This would also help the UK meet its net zero carbon objectives.

The infographic states that the UK could cut 14.8 million tonnes of carbon emissions annually, which equals 1,088 kg per household each year.

This would save households billions collectively

With rising energy prices, rooftop solar panels could save you a great deal of money. According to the report, if all solar-ready homes installed solar panels, it would save a combined £5.6 billion annually on energy bills, which is about £410 per household – and that’s without having a solar battery... 

The infographic states that the UK could save £5.6 billion annually on energy bills, which amounts to £410 per household each year.

The savings are even bigger with a solar battery

Getting a battery to store left over solar energy could save you more money on bills. A solar battery also makes your home less reliant on the energy grid, as they can store solar energy and use it when needed. This is especially useful during high-demand times when energy from the grid is more likely to be generated by fossil fuels.

Our add-on Battery Boost can help you save even more by topping up a solar battery with cheaper, cleaner energy when solar panels aren’t generating any electricity. With import rates of 10p per kWh, Battery Boost means you can store energy and power your home for 58% cheaper than the usual rate.3

We also have an export rate of 20p if you get solar panels and a battery installed with us, meaning you can sell unused energy back to us for 20p per kWh.

The switch to solar has been slow and steady

Alastair Buckley, Academic Director at Sheffield Solar and Professor at the University of Sheffield commented, “unlike commercial and utility scale solar, the residential market has been slower to respond to the increase in electricity prices and needs to be spurred into action. With yearly savings of around £400 on electricity and more than 20 year system lifetimes, residential solar is a very sensible investment.”

The technology is advancing quickly and installation costs are constantly decreasing, so it’s likely that more and more households will soon start soaking up the benefits of solar power.

We dug a little deeper into the opinions of consumers and found that solar panels are the most popular green technology in UK to help decarbonise homes, with 65% of Brits saying they would like the Government to prioritise solar in order to make the UK a clean energy superpower, followed by wind power (56%) and energy efficiency improvements in buildings (49%).

Two thirds (65%) said that high upfront costs are a barrier to getting solar panels, however 60% of Brits are unfamiliar with the incentives or schemes that can help them with the cost of solar panel installation.

Building a solar-powered future for the UK

So are solar panels actually worth it? The report is clear: absolutely.

Solar power not only saves you money in the long term, but it contributes to a cleaner, greener future. It’s playing a powerful role in the UK’s journey towards a sustainable energy network, giving serious cost savings, carbon reductions, and greater energy independence. 

We’re trying to do our part to get solar energy into more homes by making it more affordable, with 0% interest finance options available.5 We also introduced Battery Boost to help customers who get solar panels and a battery with OVO to save an extra £120 per year. And for OVO customers not ready to take the step yet, Beyond is helping them bank up to 5 free solar panels for the future.

If you’re interested in joining the rooftop revolution and powering your home with cleaner, cheaper sunshine energy, then you can start by getting a quote online. Or you can read the entire report if you’re curious to learn more.

Sources and references:

1 28.5 TWh of electricity is the equivalent of charging 14.2m EVs for a year based on the average EV driving 6,600 miles per year (UK Dft) at 304 Wh/mile (EV Database). In 2024, it is estimated that there will be 1.2 million EVs in the UK (New Automotive State of the Switch report)

2 14.8 million tonnes of CO2e is the equivalent of removing 10.1 million petrol cars off UK roads for a year. This is based on the average petrol car in the UK driving 5,348 miles per year (MOT Data) and the emissions from an average petrol car being 0.27436 kgCO2e/mile (OVO Sustainability Team). This gives us around 10,086,709 petrol vehicles, which is just over 53% of all petrol vehicles in the UK (DfT Data – VEH1103)

3 Up to 58% saving based on Battery Boost customer charging their battery at the Battery Boost rate of 10p per kWh versus charging the battery at OVO's current standard standard variable electricity rate of 24.50p which is 58.34% higher. If you override the controls and charge the battery from the grid, you'll be charged your standard electricity unit rate.

4 If you buy solar panels and a battery from us, and OVO supply your energy, you'll be eligible for our anytime SEG rate of 20p per kWh rate (correct at 1 October 2024). You'll need to sign up to our SEG tariff to get this rate. This SEG rate is exclusive to customers who get solar panels and battery from OVO. You’ll also need a smart meter. 

5 Finance is subject to eligibility and terms, and a £500 deposit. OVO is a broker not a lender.