1950’s bunglehole which is never going to be that great at being energy efficient. Cavity wall, double glazing and thick loft insulation so not much more we can do. The advantage us a large roof area for panels. However the dilemma is whether it is likely to be cost neutral over the next 15 years or not. If it is neutral then the environment gains would tip it in favour. It also finding an installer who isn’t the equivalent of the rip off double glazing firms.
Bungalows, due to surface area to volume will always be less efficient than houses and once you have put in thick loft insulation etc ti seems like there is little more that can be done, so I understand where you are coming from.
However, I would add a few points as this is an area I am looking to do some research into (and have already investigated and experimented in quite a lot).
The UK housing stock contains many houses of the type that you are living in.
To reduce fuel usage and heating costs (many people ide of the cold in older houses each winter), houses of this type need to be insulated further (government or private funded).
Just adding insulation is not the answer as comparatively more and more heat is lost through air leakage. And incidentally is why mathematical models of houses are so difficult and predictions of the cost effectiveness of just insulation are generally very wrong.
Adding more insulation and sealing air gaps is a better approach but is still not the full answer as you would then encourage poor air quality and damp in the building.
Adding more insulation, sealing air gaps and adding a mechanical heat recovery ventilation system (MHVR to provide fresh air whilst taking thermal energy out of the outgoing dirty air and putting it into the incoming cooler air) is a potential solution.
Each house varies in terms of what would be best due to orientation, local climate, build type and quality and previous work, so expert help is going to be required for more and more houses.
In your case it sounds like external insulation (if applicable (appropriate space, render etc)), with sealing of air gaps and a MHVR system could provide you with a much cheaper to heat house (would also remain cooler in heat waves), be more comfortable to live in and whenever you need to to change your heating system, it would need a lower capacity system and hence be cheaper to purchase.
Total cost for the above would be similar to your solar panel solution.
But I fully understand why people want to go for solar panels (local energy generation is great) or ground source heat pumps, or air source heat pumps etc as that is what is being marketed and is far simpler than getting expert help to better understand what may be the cheapest (short and or long term) solution for any given house.
@martin clark anything that I have missed?