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The UK has seen a dramatic increase in average national energy spending over the past two decades, with a particularly sharp rise in recent years. According to the data, in 2004, the average annual energy spend was around £565, but by 2024, this figure had surged to a staggering £2392 - a fourfold increase. The chart illustrates a steady climb from 2002 until around 2018, where prices plateaued briefly before spiking dramatically from 2021 onwards. This sharp surge reflects the compounding effects of global energy crises, market instability, and inflationary pressures, highlighting the growing burden on households as energy becomes an increasingly expensive essential.
"We hope our findings are a welcome surprise to property sellers across the UK who may be unaware that making energy efficient changes to their home, can make such a significant contribution to its valuation. There is a clear appetite amongst homebuyers to move to a property which is sensitive to spiralling energy prices, global warming and the environment we live," Dan Graby, director at EffectiveHome.co.uk, said.
Installations of residential solar more than doubled in June 2020, with a 185% increase recorded compared with May. This came after an MCS survey in April that found that 90% of installers were being negatively impacted by COVID-19.
Residential solar also has a role to play in the new build market, with the government outlining in October its options for the Future Homes Standard. One of these included combining better fabric standards with carbon saving technology such as PV. However, the Committee on Climate Change (CCC) has criticsed the Future Homes Standard as "not going far enough", particularly as it isn't set to come in until 2025.
