The Energy Savings Trust (EST) in the UK claims residential solar panel installations save households only £70 a year, which is much lower than the original £120-per-year estimate.
According to today’s currency levels, the annual savings are around $105 for Australians.
A UK newspaper reckons the news will be a blow to the government’s ‘rent a roof’ scheme, which is similar to Australian solar rebates.
An EST spokesperson said: "We followed trials of other technologies which you’d expect to export much less back to the grid than solar panels, but they showed lower levels of electricity used on site than expected, so we’ve altered our expectations of solar accordingly.
"While these are typical estimates, it’s quite possible that someone could save more than £70 if they were at home in the day or set all their appliances to run in daylight hours."
This has been a big week for Australia’s solar panel industry too, with news that one in five solar panel installations in Sydney are faulty.
The government has known about the faulty panel installations since October last year, when an audit was performed.
Image from TheAge.com.au