The Rising Electricity Prices UK People Face & How Home Solar Can Help
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According to the Citizen’s Advice Bureau, 5.3 million UK people are living in debt to their energy supplier. The reason? Well, electricity prices UK people face are rising month on month, meaning it’s getting costlier all the time to power homes and business premises across the country. A range of factors are driving these increases that are causing people’s already stretched monthly budgets to breaking point.
The good news is that there's something that can be done to combat the problem, and the solution comes in the form of home solar systems. Allowing you to reduce and, in some cases, eliminate your reliance on the grid, these systems are also key in significantly driving down the cost of your electricity bills.
In this article, we’ll take a look into the intricacies of the electric tariff rates UK people can choose from and the way that harnessing the sun’s power can help make things easy on your wallet. So, let’s dive in and explore the subject in some detail.
Why The Electricity Prices UK People Pay Are Rising
Anyone living in Britain over the last five years can’t help but notice how much more power it now costs to power their home. It’s not an illusion either, as the government’s own figures have shown a major rise in the price of electric kWh that UK people now have to pay.
Why have prices risen so sharply? A number of factors are at play that have led to UK electricity prices rising inexorably over recent years.
- Wholesale Energy Costs: A combination of market dynamics and supply shortages have led to an increase in wholesale energy prices, which has then been passed onto consumers.
- Network Charges: Another cost that’s risen is the one associated with maintaining and upgrading the country’s electricity infrastructure - again causing prices to rise.
- Global Energy Markets: While they may not immediately seem connected, the state of global energy markets and other world events can have a serious impact on what we pay in the UK.
- Investment in New Technologies: The push towards decarbonisation across the planet has required large investments to be made in new technologies. Naturally, these huge investments have had a knock-on effect in the form price rises.
So, for those powering their home in the traditional way - via the National Grid - it would seem that there’s a great deal of uncertainty in terms of budgeting. For this reason, many home and business premises owners have turned their attention to alternative options, such as home solar power systems - the kind that have become a familiar sight on the roofs of homes in Britain.
When you compare energy prices UK grid users pay with those who invest in home solar, the figures make for compelling reading. A saving of 30%-50% is quite common, with some even reducing their monthly bills by as much as 70% or more. This not only shields your home from future price hikes in the near future, but also in the long term.
The Many Benefits of Home Solar Systems
Obviously, protecting yourself from the electricity prices UK home and business owners are subjected to is an appealing prospect. However, the benefits of home solar power systems extend far beyond simply lowering your energy bills. There’s a whole host of advantages on offer that’s leading to more people considering it as a viable investment.
Reduced Environmental Impact
As well as helping to reduce the electric prices Northern Ireland and British people pay, home solar energy significantly reduces your home’s carbon emissions and reliance on fossil fuels. Anyone who supports the protection of the environment and the idea of a greener future will naturally see it as an attractive option.
Your House Becomes Worth More
Did you know that having a solar energy system installed in your home actually makes it more appealing to buyers? That means they’ll pay more for it if you ever come to sell it. While the increase you can enjoy will vary from property to property, one thing you can expect is that the you’ll make back your investment - and that’s in addition to your lowering your energy bills.
You Get to Enjoy Energy Security
Enjoying some of the lowest electricity prices UK people can hope to get is one thing, but another is having energy security. When you’re relying solely on the grid, you never know when a power cut might occur. Planned outages are usually over within a few hours, but emergencies can leave you dark for much longer.
Home solar gives you the peace of mind of knowing that in the event of everyone around you having their power cut, you’ll still be up and running with a home solar system, so long as you have something like the EcoFlow Home Battery solution.
How Home Solar Systems Work
Have you ever wondered exactly how home solar systems are able to protect you against the higher electric tariff rates UK power companies can raise when it suits them? Well, most people understand the basic principle of harnessing the sun’s power, but perhaps not some of the finer technical details. Let’s take a look at them now.
- Solar Panels: The component of a home solar system that most people will be familiar with are the photovoltaic (PV) solar panels that are typically installed on the roofs of properties. Each contains innovative solar cells that are able to harness DC current from sunlight when the sun is shining.
- Inverter: The DC electricity produced by the solar panels is then sent to an inverter, which converts it into alternating current (AC) electricity. AC electricity is the standard form of electricity used in homes and is compatible with household appliances and devices.
- Stored Or Sent Back to the Grid: Your home will either be used by the appliances in your home or sent back to the grid - this is where you’ll be able to reduce the electricity prices UK power companies charge you through net metering.
- Battery Storage (Optional): Some home solar systems - such as those we supply at EcoFlow - may include battery storage, allowing you to store excess electricity generated during the day for use at night or during cloudy periods.
The installation cost of solar equipment that protects you against hikes in the electricity prices UK energy companies set can also be lower than you might think, particularly as there are government schemes like the Green Deal that can be used to help you.
Interested in Lower Electricity Prices? Talk to an EcoFlow Expert Today
As we can see, the electricity prices UK people are experiencing right now are only heading in one direction, and that’s up! Thankfully, because of innovative technologies like those found in EcoFlow Home battery systems, you can gain energy independence, lower your energy bills and enjoy energy resilience - all from one cost-effective package.
If you’d like to know more about anything we’ve spoken about here or you’d like to get a quote for a solar system for your home, visit us today at Homebattery.ecoflow.com/uk. Alternatively, if you'd like to discuss your requirements with our team directly, go to our homepage and click 'Order Now' for a free quote specifically tailored to your needs.