We receive a small fee from trusted installers when you request a quote through our site. This helps us keep our content independent, well-researched and up to date – Learn more
- Execs from major retailers visit Downing Street to discuss plug-in plans
- Octopus Energy customers save £1bn by using smart tariffs
- Ministers continue clean up from ECO4 mess
The Strait of Hormuz is open again. That means energy bills should start to slump… right? Wrong. Unfortunately, billpayers are unlikely to see any savings this year because providers buy gas months in advance, meaning that electricity prices are staying frustratingly high.
The truth is, we’re probably not going to see consistently cheaper energy until we get away from gas and start to make the most of solar and other renewables. On that, we have good news: the government is racing towards getting plug-in solar panels on the shelves of major retailers, as well as online.
This week Amazon, Currys, Lidl, Asda and others joined a government roundtable to explore how billpayers can get plug-in solar panels in their homes as quickly as possible. This is great because the US-Iran war, and the continuing war between Russia and Ukraine, have proven how dependent we are on fossil fuels, as shown by the energy price cap increase. The only way to protect households from the next crisis is to make use of renewables, and plug-in solar panels will be a huge part of that.
The government is also taking action elsewhere, namely in protecting families who are upgrading their homes, with the aim of making it easier and safer to install insulation. Ministers are planning to create a transparent public register of government approved installers and use powers to ban shoddy installers from getting involved in government schemes.
Much of this comes from the ECO4 debacle, which led to accusations of fraud and misuse because there was no one paying attention to the work being done on people’s homes. It’s important because while we talk a lot about solar panels and heat pumps, insulation is often the first step towards making a home more energy efficient.
We absolutely support the government’s efforts to make plug-in solar panels easier to buy, but we also urge them not to leave insulation behind. Families need confidence to improve their homes and free themselves from high bills. Hopefully the government will give them just that.
Major retailers to stock plug-in solar panels
Whitehall was recently visited by executives of Amazon, Lidl, Asda and other big retailers, all with the aim of getting plug-in solar panels on shelves (or online) and ready for people to buy. The government said back in March that it was planning to relax laws around plug-ins, now it is apparently taking some big steps to do so. If they succeed, we might soon reach the point where it doesn’t matter if the Strait of Hormuz is open or closed, as far as our bills are concerned in any case.
Octopus Energy customers save £1bn thanks to smart tariffs
Since it introduced its Octopus Tracker tool in 2017, which tells customers when electricity is cheapest to use, the UK’s biggest energy provider has saved its customers about £1bn and £200mn in the past 12 months alone. We know smart tariffs can help people save loads of cash, this is more proof.
Ministers vow to help families with insulation
We know ECO4 (scrapped but still extended until December) was a shambles, but people still need insulation when upgrading their homes. The government says it will have more transparency when it comes to installers to make sure families aren’t ripped off.
Homey and Jacky launch new solar battery system
Smart home specialist Homey has partnered with solar technology provider Jackery to build for the SolarVault, a new 3 plug-in home battery series, which will give households live, up-to-date information on how much electricity they’re using.
Average price of clean technology
Solar PV system: £7,901.16
Solar storage battery: £9,321.20
Air source heat pump: £13,696.79
Ground source heat pump: £2,1043.65
Number of the week
1 billion
That’s how many £ Octopus customers have saved in 2017 thanks to smart tariffs.