NGRE is urging householders to invest in solar and battery storage technology following the announcement of more energy price pain this winter.
Gas and electricity prices will rise by 10% in England, Scotland and Wales from October, with prices predicted to rise another 3% in January, owing to rising wholesale costs paid by suppliers.
This is on the back of current prices already being 29% more than in winter 2021/22.
But homes could slash as much as 80% off their bills with the addition of solar panels and an energy storage system.
Managing Director of NGRE, Greg Bishop, said: “We had seen energy prices begin to fall recently but they’re still far higher than they were before the energy crisis and they look like they are beginning to rise again which is alarming.
“But if people can invest in solar and home storage technologies, they will be able to avoid this price rise pain and insulate themselves from future volatility in the energy markets.
“Businesses can also slash their commercial energy spend and give a boost to Net Zero ambitions.”
Up to 80% Energy Savings
Greg added: “We generally see that householders can reduce their energy spend by about 25% with a standalone solar system, which can be increased to as much as 60, 70 or even 80% with the addition of a battery.
“This greater performance is because any energy generated by the panels not used in the day can be stored and used later when the solar system is not generating. And then, any not used can be sold to the grid for profit.”
How can Solar Panels and Battery Storage Help You Save
Solar PV systems allow users to generate their own free, green electricity helping them reduce their carbon footprint and energy spend.
Battery energy storage systems allow excess energy generated by solar systems to be stored and used later, when demand exceeds production, including during the night, ensuring no energy is wasted.
Time of Use Tariffs
Homeowners with this storage capability are also able to benefit from Time of Use tariffs, in which energy companies offer people cheaper electricity prices when demand and energy prices are at their lowest. So, homeowners can charge their battery at night when prices are cheaper and use that stored energy during the day when prices are more expensive.
One NGRE customer, uses the Intelligent Octopus Go tariff, topping up his batteries between 11.30pm and 5.30am at just 7.5p per kWh – a fraction of Energy Price cap – and is able to sell it at a fixed price of 15p per kWh with the Outgoing Octopus tariff.
So, whether it’s free power generated by his solar panels or cheap electricity imported from the grid, he makes a profit.
Solar PV Provides Energy Security
Greg said: “Not only do consumers have to contend with energy prices now but have to look into their crystal balls to see what prices will be like in the future and either gamble on a fixed price which may or may not pay off or ride the wave of fluctuating prices.
“In April 2022, homeowners saw the first big increase in the price cap, a 54% jump, and further increases followed.
“This uncertainty is obviously very worrying, and some people will welcome the relief of taking more control of their energy costs, producing and storing their own energy, and not being reliant on such fluctuating prices.”
Domestic Renewable Energy Costs Slashed
Greg said: “Investing in this green technology is a lot more affordable now as the cost of the equipment has decreased substantially at the same time as performance and efficiency have risen.
“And, at the moment, both solar and battery storage are free from VAT until March 31, 2027, slashing a massive 20% off your bill.
“If you’ve been thinking about investing in the technology before, now is undoubtedly the time.”
Greg added: “Every system is unique, but as a guide, NGRE is now offering a 10-panel system including an 8.06kWh battery for £7,349.”
Real World Savings – A Case Study
An NGRE customer we recently spoke to has seen a big difference combining his solar PV system with home energy storage.
From December 1, 2023, to the end of February 2024, our customer’s total power usage was just £273 including charging his electric car. In the same period, he was paid £73.81 for the electricity he exported back to the grid, meaning it cost him an astonishing £199.19 to power his house and car through the three coldest winter months.
And into Spring, as his solar panels are providing more power to his system, he is actually making money.
In April 2024, his electric usage was £75.28 and the money he made on export was £97.16, giving him nearly £22 profit.
What is the Energy Price Cap
The Energy Price Cap covers 28 million households in England, Wales and Scotland and is set every three months by the energy regulator Ofgem.
It fixes the maximum price that can be charged for each unit of energy on a standard tariff for a typical dual-fuel household which pays by direct debit.
Under the new energy price cap, the typical annual dual-fuel bill paid by direct debit will be £1,717 per year, a rise of £149.
Between 1 October and 31 December, gas prices will be capped at 6.24p per kilowatt hour (kWh), and electricity at 24.50p per kWh.
Are you Interested in a renewable solution be it a Solar PV System or Battery Energy Storage System?
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NGRE specialise in the supply of the latest renewable energy solutions for homeowners, architects, builders, businesses, community projects and charities in Oxfordshire and surrounding areas and have more than 10 years’ experience.
NGRE are solar suppliers and solar installers, battery storage suppliers and battery storage installers, EV charge point suppliers and EV charge point installers.
NGRE supply and install a range of products including Tesla Powerwall, EcoFlow’s PowerOcean DC Fit, Viridian Clearline Fusion, REC solar panels, BIPVco Flextron, SolarEdge battery storage systems and EV charging systems, GivEnergy battery storage systems, and Zappi EV charging systems.