IKEA Energy Report Reveals 50% Fear They Cannot Afford Energy Price Rises
Despite pressure being put on energy suppliers to cut prices, 69% of homeowners have expressed concern over another price hike, and one in two have admitted that they cannot afford for their bills to rise again, a report by IKEA has revealed today.
With energy bills accounting for, on average, 6% of household incomes, three quarters of those surveyed have conveyed a lack of trust in their energy provider and have been turning to measures to help reduce their energy bills.
These include anything from turning lights off to using minimal hot water and switching energy provider. Only 5% of households however have considered installing solar panels in a bid to bring costs down, with 43% believing that a system will cost in excess of £9,000.
Despite saving home owners up to 50% off their electricity bills, a surprising 49% of consumers are still unaware that it's cheaper to obtain electricity through solar than through a utility provider.
A home solar system remains one of the best investments homeowners can make today with a possible 12% return "“ far better than any savings interest rates offered through banks. And the cost per unit generated by home solar is just 8p, significantly cheaper than retail electricity, which stands at 13.52p per unit.
Commenting on the benefits of solar to UK households, Joanna Yarrow, Head of Sustainability IKEA UK and Ireland said, "Since we introduced solar panels back in September we have helped more than 1,000 households save money on their electricity bills by harnessing the power of the sun, but we'd like to help even more people. One of our biggest goals is to enable households to live a more sustainable life at home, and one of the easiest ways to do this is through solar.
"We know the British public want to reduce their electricity bills, and it's great that more and more people are taking steps to cut down their home energy use. The next step for households to guarantee low bills is home energy generation. Solar panels are still seen by many as expensive and complicated "“ but with IKEA and Hanergy's affordable solar panels any household can take control of their electricity bills, cutting them by up to 50%. With our SolarLoan finance offer, our customers can plug into solar power from their roof for just £100 upfront!
"IKEA is now selling solar panels in all 18 UK stores, serving over 70% of the population. This means that Hanergy's in-store specialists are able to provide one to one assistance helping around 44 million people move to solar "“ making the whole process from installation and maintenance, to ongoing monitoring smooth and easy. It's never been more simple or affordable."
Toby Ferenczi, co-CEO of Hanergy Solar UK said, "We are in the middle of a solar revolution where the cost of solar energy has fallen dramatically over the past few years. Whilst over 500,000 families have already installed solar, there is still an enormous growth potential. IKEA and Hanergy are working to turn solar from a "˜nice-to-have' into an essential part of the home."
"Considering the level of concern over the future of energy bills, it's surprising that there is still such a lack of knowledge around the financial benefits of solar energy. We hope that over the next year, IKEA's millions of customers will come and speak to one of our expert Solar Advisors to find out more."
