An expert has shared their top tips for saving money on energy bills as new research showed almost half of all people in Britain did not understand what tariff they were on
Brits are increasingly baffled by energy tariffs and struggle to understand what they’re actually paying for, new research has found.
Almost half of people surveyed (47%) did not know what tariff they were on, with seven in ten overwhelmed by options and 63% unsure whether to go for fixed or variable tariffs.
The confusion extends to renewables, according to the research by energy supplier E.ON Next.
Almost two thirds (62%) said they have no idea what a heat pump was, while 21% were unaware that solar panels could help reduce their energy bills. A third (32%) incorrectly believe solar panels aren’t effective in the UK.
How renewables can save you money on bills
Jan Rosenow, professor of energy at the University of Oxford, has shared new insights into how renewables can help with household finances.
Examples include:
- A couple saving £8,770 on their electricity bills over 10 years if they installed solar panels with battery storage, as well as a heat pump.
- A driver who does a daily commute running their car for as little as 25p a day if they had solar panels and at-home charging, saving £516 per year vs a petrol car.
- A family of four saving as much as £264 a year if they install a heat pump. This would offset the cost of installation in as little as 8 years.
- Two friends living together lowering their bills by £2,860 over five years through solar generation.
Pop-up bar serving renewables-themed drinks
To help simplify things, E.ON Next has launched “Watts on the Rocks”, a pop-up bar serving Solar Panel Sunrises and Heat Pumptinis cocktails, with a side of clear information on sustainable energy.
The bar will be open from noon to 9pm on November 18 and 19 at 8 Northcote Road, Battersea, London.
Richie Atkinson, head of future energy homes at E.ON Next, said: “Energy choices shouldn’t feel like rocket science, so we’ve shaken things up with Watts on the Rocks.
“It’s about helping people discover the savings they could unlock with the right mix of tariffs and sustainable solutions that suit their home and lifestyle.
“We’ve even teamed up with an economist to make sure people get straight answers and real numbers – because making energy savings work should be as easy as ordering your favourite drink.”
Those unable to pop down to Watts on the Rocks for a drink can visit E.ON Next to explore the range of tariffs and sustainable energy solutions available.