Interest in rooftop solar has surged in recent months, as Europeans scramble to protect themselves from the spiralling costs of fossil fuels.
According to an EU-wide analysis published in the Nature Energy journal, rooftop solar photovoltaics (solar PV) could supply around 40 per cent of Europe’s electricity by 2050. However, only around 10 per cent of Europe’s building rooftops are currently equipped with PV.
Governments across the continent are trying to bolster uptake by offering generous subsidies or financial perks. For example, in Ireland homeowners can receive grants of up to €1,800 through the country’s sustainable energy scheme – while public grants in Hungary can cover up to two-thirds of solar panel costs for homeowners providing they meet specific requirements.
Many other countries such as Germany and the Netherlands have implemented benefits such as 0 per cent VAT on solar panel sales and installation to make the switch more affordable. However, heavy upfront installation costs remain a huge barrier – particularly among low-income households.
But, could ‘solar bonds’ be the magic solution?
