It’s worrying news that our gas and electricity bills are on the up again, but with experts predicting that prices will double by 2020, it’s unlikely there’ll be much reprieve over the next decade. So how can you go about dealing with the extra expenses?
Becoming energy efficient is something you should take to naturally. This is easy enough, by remembering to switch off lights, turning the thermostat down a single degree and even having insulation fitted.
But did you know some of your energy bill is used to support those who produce their own electricity?
That’s right, a portion of the amount you pay comes under an environmental tax and as much as £70 each year is used to fund those with solar panels. Solar panels have become very popular in the UK because they offer a way to produce your own electricity whilst receiving an income through the Government backed feed-in tariff scheme.
When you take into account both the savings and earnings you can make, it works out at around £700 every year, resulting in a fantastic return on investment over the system’s life expectancy.
And that £70 of yours is going straight into someone else’s pocket via this feed-in tariff scheme. This is on average between 4% and 5% of your annual dual fuel bill, but as energy prices continue to rise, this is only bound to increase.
Effectively, by not having your own solar panels, you are supporting those who have invested in their own systems.
With the latest price increases from the major energy suppliers, including British Gas, Npower and SSE, your annual bill is likely to be more than £1,400.
So why not consider your own solar panels? With this highly popular renewable technology on your roof you’ll be able to generate your own power throughout the year. With reduced electricity bills and a guaranteed income for two decades there’s no reason not to make the investment.
- Slash your electricity bills every year by producing your own environmentally friendly power. As energy prices continue to increase in the future you’ll make an even greater saving.
- Earn a Government-backed income with the feed-in tariff scheme and lock onto current rates of 14.9p/kWh. This is worth over £500 a year and will be guaranteed for two decades if you install before January 1.
- Excess electricity will also be sold to the grid, so if you’re out and about when your solar panels are active, you can be sure the power isn’t wasted and you’ll be paid for it.
- Take an environmentally friendly stance, reducing carbon emissions by using a natural source for electricity.