Octopus reports sharp rise in solar panel sales since start of Iran war | Solar power

Sales of solar panels have increased sharply since the start of the war in Iran, according to Octopus Energy, and households are opting for larger quantities of roofing panels.

Sales are up 54% so far this month compared to the same period last month, the company said Thursday.

Rebecca Dibb-Simkin, the company’s chief product officer, said: “We are seeing a massive shift as people stop just asking and start taking action. British families are fed up of being held hostage by global fossil fuel prices. By switching to solar and heat pumps, they are becoming their own power stations, ensuring low costs and protecting their wallets in the long term.”

Octopus said many customers were opting for “supersize” systems with 12 panels instead of the usual 10 panels, and sales of heat pumps had also increased by more than 50%, while sales of electric vehicle charging systems were up 20%.

Greg Jackson, the chief executive of Octopus, told the BBC’s Big Boss Interview podcast this week that there had been a “huge jolt” in solar sales compared to February. On March 17, Octopus reported a 27% increase in inquiries about solar sales since the start of the war in Iran.

Good Energy, a green electricity provider, said this week it has seen a doubling of interest in solar panels over the past three months.

Nigel Pocklington, chief executive of Good Energy, said: “The most effective way to reduce bills in the long term is to double down on renewable energy, alongside storage and flexibility, so that more of our energy comes from predictable, local sources.

“We should install solar power on every building that is capable of it. This is how we reduce costs, increase energy security and give people real control over the energy they depend on every day.”

Solar panel sales could see a bigger boost in a few months, when rechargeable solar kits become available from major retailers and supermarkets.

The government announced earlier this week that most new homes would likely be fitted with solar panels from 2028 and that it would lift a ban on the sale of rechargeable solar kits, which have proven popular in Europe and countries including Pakistan.

Andrew Dickinson, head of infrastructure at Heligan Group, an investment and consultancy firm, said: “Given recent geopolitical events, the UK’s reliance on global energy markets has come to the fore. The solution lies in a series of short-term initiatives to address the immediate impact of rising energy prices on homeowners.”

“Rechargeable solar power is one of those solutions that should lower the barriers to entry for homeowners. The lengthy process of roof assessment, design and installation by a specialist technician will no longer be necessary.”

A report published this week by Electrify Britain, a campaign backed by Octopus, found that using solar panels and heat pumps would reduce people’s fuel bills if the oil crisis worsens.

The report, Plug In, Pay Less, reveals that homes using such technologies would be almost immune to rising fossil fuel prices: for a household not using gas or oil appliances and powered by electricity, a 30% increase in wholesale gas and oil prices would translate into just a 1.7% increase in energy bills in 2035.

Energy bills are likely to rise this year, with the price cap likely to rise by more than £300 in July, according to Cornwall Insight, a consultancy.

Jess Ralston, head of energy at the Energy and Climate Intelligence Unit think tank, said: “Predictions of hundreds of pounds of energy bill rises will give hard-working families a sense of déjà vu as a new gas price crisis drives up the cost of living. Many are still saddled with debts from the last gas crisis, while Putin and the oil and gas companies stand to benefit.”

She added: “These wars and the global gas market are clearly beyond the UK’s control, so the only way we have to sustainably stabilize our bills is to reduce our gas consumption, which means switching to electric heat pumps and renewable energy that takes gas power stations off the grid.

“The North Sea is in long-term decline and more drilling won’t change the prices we pay. Last year, the arrival of more renewable energy on the grid saw wholesale electricity prices fall by a third.”

Octopus said it had also seen an increase of around a third in the number of electric vehicle rental requests.