Throughout 2023 there was a massive increase in the number of Solar PV installations carried out compared to the previous year, and interest remains stronger than before headed into 2024.
SEAI data shows that in the first nine months of 2023, there were 14,990 Solar PV installations carried out with the assistance of their grant funding. This represents an increase of 175% on the same period of 2022.
The number of homes and businesses having solar panels installed continued to increase each quarter, with 3,985 by the end of Q1, another 4,926 in Q2, and 6,079 in Q3 ending last September.
Applications for Solar PV grants from the SEAI were also up by 50% year-on-year to the end of Q3 2023, with 18,783 applications made in that period last year compared with 12,470 in 2022.
Within this period we can see the effect of government measures to make rooftop solar more accessible take effect. Within those three quarters, the biggest year-on-year increase in grant applications came in Q2 2023. The 6,771 grant applications for Solar PV received in those three months was 66% higher than the same period in 2022.
This was around the time when VAT on solar panels was slashed to 0%, representing potential average savings of approximately €1,000 per homeowner.
The average cost of a residential solar system in the first nine months of last year was €11,838 with the SEAI paying an average grant of €2,344. With most grants awarded by the SEAI being near the maximum amount payable, it shows that homeowners and businesses were getting substantially sized photovoltaic systems installed.