Ofgem have indicated that the energy price cap is expected to rise in the region of £830 to £2,800 in October. What
Although we there are multiple reasons that have contributed to this factor, the main cause seems to be pointed towards the war in Ukraine and the UKs dependancy on the East for our energy and fuel sources.
Ofgem have also warned that 12 million households could fall into fuel poverty when the cap rises, which is almost double the 6.5 million who are already in this situation.
Online searches for solar panels have grown by almost a fifth since last year, possibly driven by the anticipated increase in the price cap, and as energy continues to rise, more and more people will be looking for alternative ways to source their power and lower their energy costs.
How Can We Combat Rising Price Costs?
Many savvy consumers are turning to renewables in the form of Solar Pv to help combat the rising cost of electricity. Installing a 4kw Solar pv system could save you over £1,000 per year, if you were to add battery storage to this the saving increase further. by utilising a battery with a solar pv system it is estimated that you could use 80-95% of everything that is generated by the Solar pv system.
The UK solar industry has welcomed the recent decision to apply a zero rate of VAT on the installation of energy-saving materials in residential properties.
However, the new VAT rates exclude technologies that are not installed alongside a qualifying technology, which means if you retrofit a battery storage system, your customer will still need to pay 20% VAT. Having a new solar pv system at 0% could save homeowners in the region of £250 - £650 on VAT. Although this isn't going to fully combat the rising price of electricity, it will certainly go to help
Supply & Demand
Due to the increased demand of Solar Pv systems across the UK, this has created a huge supply chain issue with large suppliers not being able to meet the current demand.
There are a number of factors contributing to the supply issues, one of the ways that installers like ourselves are looking to overcome this issue is by working in stages. Often in the past we have been able to order materials and carry out a full installation in one visit. We're now managing to carry out the installation over multiple visits.
Looking To Find Out More
Getting a proposal for a solar pv system is relatively straight forward. Simply make contact on our website and fill in the quote form.
One of our team will be in touch to discuss your requirements and provide you with your projected savings and system output.
Visit our website: www.entire-services.co.uk