How much money can I save with Renewable Energy?
There are many factors to consider when switching to renewables. For all of our customers we look for the system which delivers the best return on investment in the quickest time and also offsets the largest amount of carbon. Depending on whether you are looking to install solar panels, energy saving technologies or change to a Heat Pump, the following is a non-exhaustive list of considerations.
- Solar panels can save you up to 50% off your energy bills if you consume the electricity whilst it is being produced during the day.
- Installing a Battery Energy Storage System (BESS) can increase your saving by up to 80%
- A Heat Pump will significantly increase your electricity consumption but eliminate your gas/oil consumption.
- The cost of gas is considerably cheaper than electricity, but this is predicted to change over the coming years as gas becomes more and more scarce. For example, currently, gas is priced at 0.07p p/kWh whilst electricity costs around 0.27p p/kWh. Using these prices, this means that running a Heat Pump will be more expensive than a traditional gas boiler to run but the homeowner will have no gas bill and a drastically reduced carbon foot print.
You can find out more on Calculating your potential energy savings on This Article on our Renewables Blog.