(PRWEB UK) 11 July 2011
A leading Renewable Energy company EnergyLink, has urged British Gas customers – who were today hit by the second price hike in eight months – to use solar power to minimise the blow of the latest utility bill rise.
British Gas left customers reeling today with news of an 18% rise in gas prices and a 16% increase in electricity prices, just seven months after upping its energy bill costs by 7%.
Around 9 million customers will be affected from 18 August, with the price rise adding an average of £192 to annual dual fuel bills. The increases come despite British Gas reporting a 24% surge in profits to £742m six months ago.
However, industry body EnergyLink has called on cash-strapped British Gas customers to fight back against the price hikes by taking advantage of the earnings and utility bill savings available with a Solar PV system.
By having Solar PV panels installed by MCS accredited installers, British Gas customers will not only reduce their energy bills but will also receive Feed in Tariff payments for at least 25 years.Feed in Tariffs offer customers a chance to make some of the money back that they have paid to energy companies over the years.
Payments are made by the utility companies for every unit of electricity generated, regardless of whether it is used, and also for every unit exported back to the national grid.
A standard 2kWp system costs between £8,000 to £10,000 and will make approximately £855 each year for its owner, through an average of £747 in Feed in Tariff payments and £108 in energy bill savings.
Although there are no Solar grants to pay for the initial installation cost, the outlay is usually recouped within the first 10 years of operation, meaning households with Solar PV panels can enjoy the financial benefits for another 15 years.
With Goldman Sachs predicting ongoing energy price rises as fossil fuel resources continue to dwindle, EnergyLink believes now is the optimum time to invest in Solar Panels for your home.