Not only did thousands of families dramatically reduce their energy bills, but by using these energy-efficient measures, they were also able to help the planet and, in some cases, even make money.
This included standing charges, so effectively these households paid nothing for their electricity use over 12 months.
Some people were able to earn up to £300 over the year by selling the excess electricity they produced. This was possible because of the combination of solar panels to create energy, battery storage to save it, and a smart tariff to automatically sell energy back to the grid during peak hours.
The first home in Britain to use solar panels to generate electricity was in 1995. But while the idea has been around for the last 30 years, having solar panels installed wasn’t affordable to most people until the last 10 years or so.
Some providers allow customers to sell excess energy back to the national grid, for other households to use, which is known as an export tariff (Photo: Getty)
However, while solar panels on their own can be a great way to cut bills and help the environment, there’s no easy way to store any electricity made. You need to be at home and using the energy produced while the sun is out and shining to make the most use of it, which is not always possible.
Some providers also allow customers to sell excess energy back to the national grid, for other households to use, which is known as an export tariff.
What about the installation of solar panels and a battery system?
Both solar panels and a battery system need to be installed by a qualified installer. Before you agree to anything, you should have a consultation and meet an expert to check that your house is suitable.
If you choose Octopus, you’ll be able to book a solar panel consultation and cost estimate, and this will give you an idea of how much you’ll be paying out.
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You will then be given a quote for the panels and the installation, and an estimated investment return period.
If you decide to have a battery installed too, you’ll need to decide on the size of the battery, which is usually based on your home’s average energy consumption. You can fill out a remote survey on your property via the Octopus website to assess if it’s eligible for installation, and you’ll be given an estimated quote.
It might be the case that you opt for solar panels on their own at first, and a battery later if the initial outlay is too expensive.
At Octopus, the cost of two solar panels starts at £6,163, while 10 panels and a 5kWh battery, its most popular system, costs from £8,477. The largest system it offers has 36 solar panels and a Tesla Powerwall battery and costs £17,876.
Is it worth getting solar panels and a battery?
There are many benefits of having a solar panel and battery system, and bills can be reduced by around 90 per cent, according to Octopus. You can also generate money from selling your excess electricity back to the grid if you’re signed up to a smart tariff.
One question to think about is how much electricity you could generate in your home and when you are likely to use it.
A solar and battery system can also be more beneficial to households with other energy efficient measures, such as electric cars and heat pumps.
How can a smart tariff boost my savings?
You’ll usually be paid more if you do this during peak times, between 4pm and 7pm, and with a smart tariff, this can be done automatically.
Octopus’s Intelligent Octopus Flux tariff works in a similar way, but with even cheaper rates during off-peak periods. It lets customers use electricity when prices are as low as possible and sell it back during peak hours. Octopus says that around half of its customers who signed up for this tariff have made money over 12 months.
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