40% rise in energy bills since 2015, which suggests that household energy bills are increasing by on average 10% each year. Statistics noted on the comparison site, comparethemarket.com. Using this information, we can estimate that bills will continue to rise by about 10% per year. In 5 years’, there will be a 50% increase onto your bill and in a decade’s time a terrifying 100%. Do you think you could afford to pay energy bills in the near future?
Energy bills are rising as a result of wholesale energy costs. High demand for electricity, less availability for generation resources, fuel cost and power plant availability all contribute to the rate by which energy bills are rising. Many residents and commercial owners are now worried about how crashing out of the EU with a no deal Brexit will affect the prices of energy bills.
Fuel poverty is a huge problem and is becoming more severe as the energy bill prices increase. Low income, High cost indicator works out if someone is suffering with fuel poverty when their income is below poverty line and their energy costs are higher than is typical for their household type. In 2016, 2.55 million households in England were affected by fuel poverty stated by The Department of Business, Energy and Industrial Strategy (BEIS).
The average UK household now pays a record £2707 in energy bills each year. As a result of the expensive energy prices 82.1% of all fuel poverty households are considered vulnerable. The vulnerable in this case means children, the elderly or even someone with a long-term illness. Many of the elderly struggle to keep warm in the freezing winter months as a result of the high energy prices and the huge ageing population that we a currently facing in the UK.
Solar energy offers a solution to the fuel poverty crisis that we are currently tackling with in the UK. It is a renewable, cheap and independent source of energy available to all homeowners. By generating electricity using a solar system you would dramatically reduce your energy bills mean while reducing your carbon footprint which is especially important at this time in the climate crisis.
The solar industry has taken the world by storm in the past decade due to the huge technology advancements. Product quality is exceptional and prices have fallen dramatically making them a very smart economic decision. Over 1.5 million homeowners in the UK have joined the solar family and reportedly a staggering number of homeowners have plans to do the same this year.
If you are interested in seeing how much you could save on your energy bills or have any queries our team are more than happy to help 😀 Give us a call on 0330 128 9323. Alternatively visit the contact us page and leave us a message.