Ofgem have just announced from April 1st, 2021, the price caps current in place on energy will be lifted. Potentially affecting some 15 million UK households.
Today – 05/02/21 Ofgem (Office of Gas and Electricity Markets) announced that prices will now return to pre-pandemic levels.
This means that households should expect an increase in their energy bills by around £96 (if they are on a default tariff)
This is the increase in two years and may be a result of an increase in the wholesale trade cost of energy.
Considering the pandemic has already made money tight for UK householders, now does not seem to be a good time for an increase. Ofgem’s Chief Executive stated that they have “carefully scrutinized these changes to ensure that customers pay a fair price”, but as Citizens Advice Chief Executive Alistair Cromwall put it, it is a “heavy blow to a lot of households”.
Solar PV generating systems: Avoid energy increases.
If you like us do not want to be part of a constantly increasing power grid, then there is one thing you can do.
Micro-generation systems are a great option since you can create your own renewable energy on or at your home – reducing your reliance on the grid and putting your home into the modern age.
Micro-generation systems such as Solar PV are great for households who want to take ownership of their energy and future-proof their property. Now that home energy storage systems have also drastically reduced in cost, systems can offer stored electricity for use at night rather than be exported back to the grid.
With the cost of a unit of electricity created in the region of around 3.4p (subject to roof layout, capital expenditure and location within the UK) it really makes sense if you have a roof space that can be covered.
Furthermore, since a 10-panel array can now offer the same electrical capacity as 16 panels did just a few years ago, you can opt for more electricity capacity or simply keep to a standard 4kWp system and be 40% better off. A typical system can start now from around £5k, and around £10k with a battery that includes UPS (uninterrupted power supply) ROI with money back in the bank is around 5-6 years from install, and investment returns are around 12%
Get in touch today – Solartherm UK
T: 01268 552868
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