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By Jessica Sletmo
London, August 2022… Energy prices are soaring but households can take back control and slash bills by adopting solar power, an industry expert has said.
By reducing their dependence on the National Grid they could benefit not only the environment but other households by helping to bring prices down.
Llewellyn Kinch, co-founder of UK energy switching service Switchd, and MakeMyHouseGreen, which uses smart data to calculate savings made by green technologies, says on average, 40-50% of the electricity used to supply the UK is generated by gas.
He cites one day in August as an example of how people are missing out on generating their own energy and cutting bills.
“On Wednesday 10 August at 12:50pm, 43% of electricity was generated using gas,” (1) says Kinch. “Only 24% was generated from industrial solar. This was despite the Met Office reporting clear sun for all of the UK except the northern parts of Scotland.”
He adds: “Even without the environment in mind, soaring gas prices should incentivise households to get solar - the more they generate themselves, the less they have to depend on gas.”
In 2021 home solar panels produced 3GW of electricity in 2021, this is expected to increase dramatically this year: (2)
Finding ways to cut energy costs has become an imperative for many in the UK struggling with the cost of living.
One recent forecast predicts the energy price cap could rise to a massive £4,266 from January 2023. Switchd is looking for deals below the price cap for its members every day, but MakeMyHouseGreen can help households take back control, too.
A small solar system of eight panel could cost £5,500, with savings of £749 a year, but individual factors will influence these figures. MakeMyHouseGreen gives households an estimate of the cost and saving potential for their home in a matter of minutes.
Kinch adds that while those lucky enough to afford solar panels are able to take control over their energy generation, even those without sufficient funds can benefit.
“By reducing their personal demand on the National Grid, households reduce overall demand, which lowers prices for everyone,” he says. “This means households aren’t just helping themselves, they’re helping other families too.”
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MakeMyHouseGreen is a trading style of Switchd Limited who is authorised by the Financial Conduct Authority with regard to credit brokering services. Switchd is not a lender. Our registration number is FRN 940305 and can be viewed on the FCA register website https://register.fca.org.uk/s/.
Switchd Ltd, trading as MakeMyHouseGreen, is registered in England (10408051) at International House, 24 Holborn Viaduct, London, England, EC1A 2BN