The massive 54% increase in the energy price cap announced today will push millions more into fuel poverty. Immediate relief must be provided to vulnerable households who will now be subject to record energy costs.
However, the short-term measures announced by HM Treasury are not enough. Government must implement long-term structural reforms to reduce the UK economy’s exposure to volatile and high cost fossil fuel markets by accelerating the growth of low cost domestic renewable energy, like solar. Greener is now cheaper.
- A nationwide green home retrofit programme to reduce energy costs for consumers
- 0% VAT on domestic renewable energy improvements such as solar and battery storage
- Further support to rapidly transition to zero carbon heating technologies such as solar thermal
- Removal of environmental levies from consumer bills to general taxation
For those household that are able to invest in their own properties, this price increase makes the economic case for installing solar even stronger than before.
Learn more about our latest research on the financial benefits of a solar-powered future here.
The Value of Solar Property is a ground-breaking report that looks at the financial benefits of residential rooftop solar systems.