Solar panels give man huge savings on electric bill

A stock market investor took to social media to share the vast benefits of renewable energy, namely solar panels. His electric bill dropped 71% in the week that began on 10 March compared to the same time last year. He is likely to save even more as fossil fuel prices surge because of the war on Iran, given gas largely sets the price of energy bills.

Solar panel scale across the country

The issue is low income people do not have the disposable cash to install a solar panel and battery system, which can cost £8,000 to above £14,000. And the Labour government is predominantly letting the market solve the energy and climate crisis, rather than taking an active and strategic state investment approach.

In Green party leader Zack Polanski’s first economic speech, he pointed to Spain as an example of a country that has “doubled” its renewable energy capacity:

Spain… has doubled its wind and solar capacities since 2019, taking it from having some of the highest energy bills in Europe to some of the lowest. Other countries have been able to learn the lessons from previous crises and prepare – why is our response so weak when disaster strikes?

Spain’s investment in renewables means that gas set the price of electricity just 15% of time, compared to 89% in Italy and around 66% of the time in the UK. The FT further notes:

Spain’s average electricity price for the remainder of this year is forecast at about €66 per megawatt hour, or half the level of Italy’s.

Going backwards?

Meanwhile, the fossil fuel industry and many politicians want to take us into the past with increased fossil fuel usage. Labour MP Henry Tufnell, writing in the Sun, called for ministers to scrap the ban on new North Sea drilling – over 90% of which has already been used up. He attempted to reverse reality, saying that the move away from fossil fuels is “impoverishing our communities”.

Big Oil has long propagandised against renewable energy, despite its own reports from 70 years ago predicting the dangers of climate change.

No-brainer

While the war on Iran is a catastrophe, it is highlighting the benefits of renewable energy.

Quite.

Featured image via the Canary