Energy inflation refers to the general trend of increasing energy prices over time. It is a term used to describe the gradual rise in the cost of electricity, natural gas, and other forms of energy that households consume.
Inflation ican be influenced by various factors, including: supply and demand, market forces, government policies, infrastructure and distribution costs and currency exchange rates.
Its important to note that energy inflation can affect both electricity and gas bills. To mitigate this impact, many people consider switching to more energy-efficient appliances, and renewable energy sources like solar panels.
Solar panels, also known as photovoltaic (PV) systems, are designed to convert sunlight into electricity. By installing solar panels on your rooftop or property, you can generate your electricity and reduce your reliance on importing electricity from the National Grid. This means you'll consume less grid-supplied electricity, saving you money on your monthly energy bills.
Traditional energy costs typically trend upwards over time due to factors such as inflation, fuel price fluctuations and increasing demand. By generating your own electricity with solar PV you can mitigate the impact of these rising costs. While you may still rely on importing electricity from the grid throughout the year, solar power will provide a degress of insulation against future energy price hikes due to your reduced need to import from the grid.
The energy price cap is set by Ofgem, the regulating body for energy suppliers in Great Britain. The cap limits the maximum amount energy suppliers can charge you for each unit of energy you use. Reviewed every three months, the cap was introduced in 2019 out of concern that people were paying too much for their energy.
From 1 April 2024 to 30 June 2024 the price cap is set at £1690 per year for a typical household.
Unfortunately for us as consumers, energy prices are not going to come down. There are lots of reasons why; energy is generated mostly by using fossil fuels, and they can't be replenished, so once they're gone, they're gone. And the more we use, the less of them there are, so the price goes up.
In the quest to combat rising energy costs and insulate your budget from the impact of energy inflation, integrating battery storage as part of your solar PV system emerges as a game-changing strategy. Battery storage technologies, such as lithium-ion batteries, offer numerous advantages that can significantly lower your energy bills and provide financial stability, making them an invaluable additional to your renewable energy setup.
Battery storage enhances your solar PV system's abiity to save you money by storing excess electricity generated during sunny periods. Instead of sending this surplus energy back to the national for minimal compensation, you can store it in your batteries for use during the evening or on cloudy days. This minimuse your reliance on electricity from the grid when solar generation is limited, reducing your energy bills.
With battery storage, you will gain a level of grid independence. During power outages or grid failures, your stored energy can keep critical appliances and systems running. This enhances your resilience and ensures that you aren't left in the dark during unexpected outages.
By relying on stored solar energy during peak demand or when grid electricity is more costly per kWh, you signficantly reduce your dependence on the grid. This shift awyay from grid electricity mitigates the impact of energy inflation and fluctuating electricity prices, allowing you to maintain greater control over your energy costs.
Solar panels and battery systems shield you against rising costs of energy by reducing the amount you need to buy from the grid. The only mainstream product on the energy market today that generates its own electricity is solar power. Our low cost systems generate electricity around the clock, despite the myths! Not only will you pay for less as you use less, investing in solar energy now will actually protect you from rising future costs too, as the more prices rise, the more you will save on what you would have paid!
Home Assessment
Shortly after submitting this form, our team will reach out to you with a phone call to learn a litle more about your property, energy use habits and your reasons for wanting solar.
We will then send you a preliminary quote with multiple proposed design options to consider. Plus look to schedule a home visit appointment to survey your property and customise our proposal further if requested. All of this is Free and no obligation.
