• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 2 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 2 mins WTI @ $75.75, headed for $64 - 67
  • 3 hours Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 11 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 1 hour U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 11 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 14 hours EU to Splash Billions on Battery Factories
  • 11 hours China Thirsty for Canadian Crude
  • 16 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 16 hours Gold price on a rise...
  • 16 hours Judge Approves SEC Settlement With Tesla, Musk
  • 16 hours Dow logs 830-point loss
  • 12 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?
Are Oil Majors Returning To Libya?

Are Oil Majors Returning To Libya?

Libya’s NOC has managed to…

Are Natural Gas Prices Set To Spike?

Are Natural Gas Prices Set To Spike?

Natural gas inventories have plunged…

Rising Energy Prices Force UK to Turn to Renewable Energy

Energy prices are rising in the UK by fairly large margins. Last week SSE, one of the largest energy companies in Great Britain, said that it will increase its prices by 8.2% from the 15th of November; British Gas has just followed suit by announcing that its prices will rise 9.2% on the 23rd of November. More suppliers are expected to declare similar rises in the coming months.

The UK is already a country pushed to the edge of bankruptcy by the financial crisis, and these hikes in energy prices are doing no favours for some of its poorer communities, where, as EcoSeed puts it, families may have to begin choosing between “heating and eating.”

Related article: Renewable Energy Stocks that are Already Paying Out

The rapid rise in energy prices over recent years has far outpaced any other commodity, and unfortunately it doesn’t seem as though the rate of increase is set to slow anytime soon.

If prices continue to rise, the situation for families in the UK will only get worse, and at some point the government may be forced to intervene. Labour have stated that they will freeze energy prices if they manage to win the 2015 general election, and whilst this will prevent further increases, it doesn’t help if people are already unable to pay their energy bills. Another solution would be for the installation of renewable energy, especially rooftop solar panels.

Greg Barker, the Minister for Energy and Climate Change, recently spoke at the Solar Energy UK conference to outline the government’s plans to increase the amount of installed solar capacity in the UK. Over the next ten years the British government wants to see solar generation capacity increase from 1.7GW to 20 gigawatts.

Homeowners who install rooftop solar panels on their homes will dramatically reduce their energy bills each year, by producing free power from the sun. IKEA’s plan to begin selling solar panels at stores across the UK could help families cope with increasing prices offered by the grid.

Related article: Scotland Now Receives 40 Percent of its Power from Renewables

EcoSeed suggests that if a large number of UK households installed renewable energy devices in favour of using fossil fuel, then the country’s carbon emissions would fall drastically. It claims that one solar panel can save a home about a tonne of carbon dioxide a year, totalling 30 tonnes over the panels lifetime, and having a huge impact on carbon emissions if widespread across the country.

Whilst solar panels on most homes around the country seems a bit far-fetched at the moment, every time energy companies raise their prices it becomes more of a viable option.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News