Why Solar is the Best Solution – Insights from an Energy Broker
- Utility Saver Ireland is an energy broker company that has considerable experience in the field of energy prices and has navigated this sector with the company since 2008. Utility Saver Ireland is very familiar with how Irish energy prices have fluctuated considerably and how volatile the market has become, so we asked them a few questions on this subject.
- Q: Have energy prices fluctuated in the past 5 years?
- A: Yes, greatly, since March 2020. After a sharp fall in energy prices for many months in 2020 due to a drastic fall in industrial consumption, alongside a sharp fall in the price of oil, energy prices started increasing consistently from December 2020. At one stage electricity pricing had increased by circa 350%+. At present, commercial electricity pricing is still circa 70% more expensive than in March 2020 (normal times) while natural gas pricing is still circa 110% higher.
- Outlined below is a comparison with pricing in normal/pre-COVID/war times. This consists of the most popular electricity tariff, and the most popular natural gas tariff:
Electricity (cents per kW-hr) | Natural Gas (cents per kW-hr) | |
Late Feb/ early March 2020 | 0.1410 | 0.01900 |
Now | 0.2150 – 0.2600+ | 0.03750 – 0.05500+ |
- Q: What are the benefits to having solar panels to stabilise your energy consumption budget?
- A: Ultimately this would allow a business to be less reliant on the open market/electricity supplier. If we could generate a certain percentage of our electricity supply from our own premises, we could lower our exposure and control costs much more accurately. This lack of the ‘shock effect’ would be a huge comfort – when our energy accounts come up for renewal and we are informed that our pricing will increase by for example 150% that shock immediately and adversely affects our entire business model and thus competitiveness.
Environmental Benefits of Solar Power
- Ireland has the ambitious goal of cutting our carbon emissions by at least 42% by 2030, and we at Eco Revival Renewables want to become part of the renewable energy solution. Ireland is one of the most fossil fuel-dependent countries in Europe. In 2021 we were tied third with Poland at 88%, considerably higher than the EU 27 average of 69.9%.
However, in 2022 Ireland’s fuel mix showed us that we were making some progress. 38.6% of Ireland’s fuel came from renewables. Although solar made up 0.34% of this mix, there are countless reasons for joining the renewable revolution and particularly going solar. (Eirgrid).
- Solar energy is a pure, clean, and endless energy source, even in this country! Solar PV (photovoltaic) panels produce no harmful greenhouse gas emissions, improving the air quality in your area. Generating your clean solar energy makes you less reliant on the national energy grid, resulting in fewer fossil fuels being required to fuel our country.
- Residential homes will benefit greatly from reduced energy costs and a cleaner, clearer environment but the greatest benefits will come from reducing carbon on an industrial scale for our commercial customers. Not only will they also yield lower energy bills but will prevent the otherwise greater volume of carbon needed to power their businesses by fuelling them with renewable solar energy. We are very excited to join our customers in participating in the renewable energy solution.