Proactive Investors - Installation costs are the main factor preventing people from purchasing solar panels, despite the majority wanting the technology in their homes, according to Direct Line .
Some 58% of British people feel solar panels would make a property more attractive to buy, the insurance firm found in a report, but 67% said they had no plans to install the systems.
Solar panels save households an average of £264 a year on energy bills, rising to £480 for some, though the cost of installing the systems ranges between £6,000 to £10,000, Direct Line said.
Despite costs having fallen over 80% since 2010, alongside the offer of government grants for vulnerable households, most of the 2,000 respondents to the research were still put off by the price tag.
“The benefits of installing solar panels are clear, from helping homeowners save money on their monthly electricity bills, to decreasing their carbon footprint.
“However, their price and installation costs remain an obstacle to many,” Direct Line (LON:DLGD) home insurance head Dan Simson said.
Confusion also remains around whether solar panels are included in the value of houses, Direct Line added, with 52% of respondents saying they would take the systems with them when they move out.
Less than half of the respondents also agreed that solar panels should be included in homes’ fixtures and fittings.
This is often not the case though, with the insurer recommending people thoroughly check before buying homes with solar panel systems.
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