UK Homes Are Turning To Solar Panels To Tackle Sky-High Energy Prices

Solar panels and smart meters have gained traction with households hoping to save money on energy bills, according to new search data from eBay UK.

With the consumer price cap set to rise to nearly £2,000 per year next month, customers are looking for energy-saving improvements – with green energy options taking center stage. 

Compared to this time last year, the number of searches for ‘smart meters’ has increased more than 68 percent on eBay UK, while the number of searches for ‘solar panels’ has increased by more than 45 percent, with one search every minute for ‘solar panel’.

People are also seemingly looking for added value – with searches for ‘used solar panels’ up for 30 percent this quarter compared to the same time in 2021.

Meanwhile, energy consumers who already had solar panels were also looking to upgrade, with 6 out of 10 of the top trending items in the DIY category over the last week being either solar panels or solar powered batteries.

Murray Lambell, general manager eBay UK said, “With the energy price cap set to rise, many families are understandably looking for ways to keep costs low, causing a surge in demand for products like solar panels. These shoppers are making savvy investments to tackle the cost of living squeeze and the market for green energy is growing as a result, making a positive impact on wallets as well as the planet.

Energy firms have already outlined their commitment to surge pricing – with Ofgem set to be granted legal powers in May to change how smart meters operate.

This means information about usage is sent to suppliers every 30 minutes by default – rather than customers opting in as they do at the moment.

Suppliers will be able to use the data to adjust energy prices up to 48 times per day, meaning households could be charged more at peak times.

By CityAM

More Top Reads From Oilprice.com:

• Oil Rebounds As Market Fears Russian Supply Shock
  
• The World Could See A Record-Breaking Oil Supply Shock
  
• Huge Russian-Run Iraqi Oilfield May See Near-1 Million Bpd Output Boost