The latest price increase implemented by Guernsey Electricity shows the increasing benefit of investment in self-generation and energy storage technology, according to the green energy experts at The Little Green Energy Company.
Simon de la Rue (pictured), Head of Sales at the Little Green Energy Company said: “Increasing electricity tariffs is disappointing for consumers for many reasons and while a higher price per unit may be unavoidable, that does not mean that nothing can be done to reduce the impact, both on larger and smaller scales.”
Guernsey Electricity has announced that tariffs will be increasing by 10% in July, on top of recent increases of 9% and then 13%. This will be implemented across the board, for residential customers as well as businesses.
“Consumers may feel a bit resigned when considering paying more for their electricity but there are things that can be done. If long-term investment is possible, then we would recommend installing solar panels and storage technology like the Tesla Powerwall,” said Simon.
“This enables consumers to generate their own electricity when the sun is out, using or storing it, and charge their battery at night, when they can access lower rate tariffs if required. This ensures they are using significantly less ‘normal’ rate electricity, saving them money by either using free sunlight or ‘cheap rate’ electricity. Ever-increasing tariffs also means that the payback period, the time it takes to make back the initial expenditure on their installation, is getting shorter and shorter.
“We’d recommend this to anyone investing in property renovations, or to businesses who own their premises or have a long lease, as it makes sense as a longer-term investment.”
Simon also stressed that if installing solar panels was not an option there were still changes that people can make to reduce their consumption and therefore reduce the impact of tariff increases.
“Using timers on major appliances like for example your washing machine ensures you only using them during low-rate periods. You can also adjust your thermostats on heating or hot water, even a one-degree difference can save significant energy and therefore money.”
Increasing tariffs did mean however, that more investment would be made in infrastructure, something that Ben Le Huray, Managing Director at the Little Green Energy Company, said should be welcomed: “Decarbonising Guernsey will be a collective effort and investment in electricity infrastructure will be a key part of that. Enabling more people to switch to electric heating will reduce our reliance on fossil fuels over time. It will also encourage more people to consider adding renewable energy sources to their homes and businesses, further reducing our island’s carbon footprint.”
