As inflation remains persistently high across the UK, homeowners in Essex, Kent and the wider South East are again facing mounting pressure on their electricity bills. The cost of living crisis is far from over, and with recent rises in everyday prices, many homeowners are asking “How long can this keep up, and what can we do to take control?”
What the Recent News Tells Us
Sky News has reported that inflation remained at a 3.8% high in August, caused by rising food and drink prices. There is an expectation that inflation could peak as high as 6% by the end of the year. Once of the biggest contributors to rising inflation, and a source of worry for homeowners is higher utility bills. Energy price cap rises, the cost of wholesale gas and electricity and standing charges are all causing strain on household income and national reports have confirmed that energy prices are a key driver of recent inflation rises.
How Inflation Affects Electricity Bills for Homeowners in Essex, Kent and the South East
People in the South East are feeling inflation overlapping in many ways. Here’s how inflation affects your electricity bill:
- Wholesale energy costs rise when inflation is high. Suppliers often pass these costs onto consumers, and even with regulatory protection like the energy price cap, the rises show up in higher unit rates and standing charges.
- Maintenance and infrastructure costs increase when inflation is higher, the cost of materials rise (cables, wiring, transformers, meters), labour is more expensive and grid upgrades cost more. Energy companies need to cover the growing costs, which inevitably end up with rising costs being pushed onto the consumer.
- Operational costs for households increase with a rise in inflation, energy bills and food costs increase, leaving less disposable income at the end of the month. Inflation can also push interest rates up, making mortgage payments higher and financing for home improvements more expensive.
SolarTherm UK: Helping Homeowners Take Back Control
At SolarTherm UK we’ve been helping homeowners across Essex, Kent, London and the wider South East save money on their electricity bills and take back control of their power for over 15 years. Our focus on solar energy solutions positions us perfectly to help homeowners as the cost of living continues to rise. By installing solar panels, you are reducing your reliance on expensive grid electricity, by generating your own free electricity. Our EPVS verified performance and returns estimates provide you with predictable long-term savings. Operating costs for your solar PV system once installed are relatively low, even if energy prices go up, your solar generation cushions the blow.
Challenges and Things to Consider
At SolarTherm UK we believe in providing you with all the facts of a solar installation, that includes the challenges homeowners may face. The upfront cost of solar panels is significant, a typical 4kWp solar PV system costs between £6,000 and £7,500 to install, with a payback period of 6-10 years. Initial costs can be off-set against the savings with a finance agreement. Your return on investment depends heavily on how much electricity you generate, how much of this generated electricity you use or export and picking the right tariff for your imported and exported electricity.
What Should Homeowners Do Now?
If you’re considering moving to solar, there are some practical steps you can take before switching, or just to manage your rising energy bills. Audit your energy use, find out where energy is being wasted, the times of day you use the most energy and your lifestyle patterns. Sometimes small fixes like switching to LED lighting, upgrading insulation and using smart technology can reduce your energy usage substantially. If you want to switch to solar, get quotes from reliable installers, such as SolarTherm UK. Our MCS-certified installers have over 15 years’ experience within the solar industry. Choose the correct system that is tailored for your property and usage, considering battery storage if your energy usage is evenings rather than during the day while your solar panels are generating. Once your solar PV system is installed, shop around for better deals on your imported and exported electricity, most suppliers offer preferential rates to existing customers for exporting surplus energy. As inflation fluctuates, making your home energy efficient and generating your own free electricity will help lock in savings long-term.
Conclusion
With inflation staying well above the Bank of England’s 2% target, and energy costs still a key driver of increasing bills, homeowners in Essex, Kent, London and the South East are facing a difficult winter ahead.
SolarTherm UK stands as one part of the solution, investing in solar energy helps reduce exposure to volatile energy markets, brings predictability and when combined with energy efficiency measures could help drastically shrink electricity bills.
In these times of rising costs, the ability to generate your own free electricity isn’t just environmentally sound, it’s financially wise.
Contact SolarTherm UK today to take the first step by getting a free no obligation quote, tailored to your property, usage and future energy needs. No hard sell, just honest, expert advice.
Your home. Your energy. Your future.
