Rising Energy Prices Add Urgency to Home Solar Decision

Inside this Edition:

• Rising Energy Prices Make Solar a Smarter Decision Than Ever

• Using Solar Power for All Your Hot Water Needs

• Government Grants for Electric Cars and Home Chargers

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Rising Energy Prices Make Solar a Smarter Decision Than Ever

Every month you delay installing solar panels is another month of paying unnecessarily high electricity bills.

With electricity prices expected to rise again, many homeowners are deciding it makes more sense to act now rather than wait.

Home solar can reduce household electricity costs by 50% to 75%, and the savings grow as energy prices increase.

Even modest price rises could add €150 or more to the average household bill this year alone. And if energy markets remain unstable, increases could be even higher.

After the invasion of Ukraine, residential electricity prices rose nearly 65% at their peak. Many analysts believe volatility in the energy market is far from over.

At the same time, solar panel prices are currently at historic lows due to global oversupply. But that may not last.

Most of the world’s solar panels are manufactured in China and shipped internationally. Rising fuel, shipping, and manufacturing costs could push prices higher in the future.

The conclusion is simple: Solar has rarely been this affordable, while electricity has rarely looked this uncertain.

Using Solar Power for All Your Hot Water Needs

Solar panels generate electricity to power your home, but they can also contribute to your hot water needs with a power diverter.

The immersion heater is typically the last resort when it comes to making hot water due to its high cost.

A power diverter is an optional device for any residential solar PV system that sends excess electricity that would otherwise go unused to the immersion.

For homes that go through a lot of hot water, this can be an incredible saving, especially in homes that don’t have a boiler.

Government Grants for Electric Cars and Home Chargers

Making the switch to an electric car will save you money in lower running costs with home charging. However, if you’re still not convinced there are multiple grants available for making the switch to an electric car.

The government provides grant funding of up to €3,500 for new private and commercial electric cars. A €300 grant is also available for installing a home EV charger.

If you’re thinking about going electric, then read more about how to qualify for and receive these grants.

That’s it for this week. If you want to learn more about how you can save more in your home while living more sustainably, then keep an eye out for our next edition.

Briain Kelly,

Editor, EnergyEfficiency.ie