As per, the solar panel installed on top of the residential building located in Cardiff can deliver up to 75% of the energy demand from each household, which can translate to significant energy reduction costs.

Australian company Allume Energy provided the photovoltaic panels that are called "SolShare", indicating that one solar installation can be used by multiple households at the same time.

Welsh Minister for Climate Change Julie James said that "at a time when costs are rising, improving the energy efficiency of homes will not only help us to deal with the climate emergency but also help families through the cost of living crisis."

Since Wales aims for net-zero emissions by 2050, the official added that the initiative is "an exciting first of its kind project for Wales and exactly the type of thinking we need to see within the housing sector."

The popularity of renewable sources in Europe is clear, as last year, solar and wind power had a higher share in EU's energy production compared to gas, as these two green resources produced 22% of the bloc's total power.

The SolShare photovoltaic installation can be used for retrofitting, as well as new buildings and company officials say that for the Welsh project, the shared solar panels saved money for the residents, as well as boosting energy production by 25% compared to other solar systems.