Rising energy prices are driving up electricity bills, so some homeowners are installing solar panels to cut costs. In August, U.S. electricity rates rose at the fastest pace in 41 years, and natural gas prices rose by a third from a year ago. The surge was partly due to Vladimir Putin’s invasion of Ukraine and the post-pandemic economic recovery. The British energy regulator said in August that the average household’s annual electricity bills would rise to nearly $4,000 a year as the cost of wholesale gas prices soared. However, the UK government has since announced help to reduce these costs. The insider spoke to two people who have installed solar panels in their home and are now saving money on their bills. Gareth Hodgson, 58, from Merseyside, near Liverpool in the northwest of England, heard from his local council that they were offering cash grants for solar systems. He told Insider he qualifies because he makes less than £31,000 (about $34,600) a year. In April, he installed a complete solar system in a matter of weeks, including 10 solar panels, a water pump and heat inverter, and floor standing radiators. “They said if I wanted to do it myself it would cost me £12,000,” Hodgson said. “That even included French double glazed doors for free.” now credits energy fed back into the grid. Hodgson paid nearly £94 for electricity generated in August. He uses the money as a line of credit for a fixed fee of £120 ($133) a month, after which he has another £40 ($44) in credit. An insider confirmed these amounts documented.
“It changed my life a lot. It helped me cut a lot of my bills,” Hodgson said. He said that solar panels generate electricity even in cloudy or rainy weather, and this will be his first winter using them. If Hodgson has to use grid power, he will use up some of the credits accumulated over the summer. This year, he saved about £1,000 ($1,115) on his electricity bill. To save energy, his family will only produce the water they really need to make tea or coffee, as that consumes the most electricity, except for the shower. They also turn off the shower after the initial lather rinse before turning the hot water back on. John Reeder, 74, from Cornwall, said it cost around £7,000 ($7,800) to install 16 solar panels in his house. “My electricity bills were going up, so I installed them to save money, also for environmental reasons,” he said. “I try to just use what we make and not buy anything, and now I can even make money from it.”
Solar panels produce between 7 and 30 watts, depending on how sunny the weather is. In July they installed 29 solar panels in one day and the family only used 9 and he was paid for the unused solar panels. “The first check I received was about £300 ($334) for three months of energy production, which surprised me,” he said. “I’m glad I did it and recommend others to do the same.”
Post time: Apr-18-2023