OVO Energy reveals how to save £410 a year on bills by making one big change

Analysis from the Building Research Establishment has found that nearly half (48%) of the nation's housing stock is suitable for solar panels, yet they are not currently installed. The report estimates that the nation could collectively save more than £5.6 billion on energy bills by adopting this green technology.

This equates to an average saving of £410 per household annually before considering additional savings from pairing this with a battery, almost a quarter of the estimated £1,717 average annual energy bill as of the October energy price cap. The study also highlights the urgent need for accelerating the roll-out of solar panels in the UK.

Based on the current installation rate of solar panels in 163,366 homes per year, it could take 84 years for every eligible household to adopt this greener technology unless further measures are taken to encourage uptake. With the Ofgem energy price cap increasing to 24.5p per kWh, installing solar panels would enable homes to become more self-sufficient and less affected by market volatility.

If the UK maximised its domestic solar power potential, an estimated 28.5 TWh of renewable energy could be generated, equivalent to charging all of the UK’s EVs (1.2m) for nearly 10 years (9.8 years). By adopting solar energy, the nation could potentially cut carbon emissions by up to 14.8 million tonnes annually, equating to removing over half of the UK's petrol cars—about 10.1 million vehicles—from the roads for a year.

Professor Alastair Buckley, Academic Director at Sheffield Solar and Professor at the University of Sheffield, remarked on the report commissioned by OVO: "This report commissioned by OVO is much needed and highlights the importance of residential solar for reaching net