New Energy Price Cap in the UK from October 1: What Does it Mean for Solar PV Owners?

The latest increase in the UK's energy price cap, effective October 1, 2024, means households face a typical annual bill of £1,717. With this rise, electricity now costs 24.5 pence per kWh and has a daily standing charge of 60.99 pence. For solar PV owners, this brings both challenges and opportunities to maximize the value of home-generated energy.

Power your home with Upvolt’s smart solar solutions.

How Solar PV Systems Protect You from Rising Costs

If you have a solar PV system, you’re already ahead. Every kWh you generate helps avoid high grid rates. But how can you make your system even more efficient? Adding battery storage and a Home Energy Management System (HEMS) can help.

Why Battery Storage is Smart

Battery storage allows you to store extra solar power produced during sunny hours. Instead of exporting surplus energy to the grid, you can use it during the evening, when grid rates are highest. This reduces your dependence on expensive peak-rate electricity, saving you even more.

Get More Control with a HEMS

A HEMS optimizes energy use based on Time of Use tariffs, which vary costs throughout the day. When you have both solar and battery storage, HEMS can automatically switch between stored energy and off-peak grid power. This lets you avoid high rates, and future-proof your energy setup as Time of Use tariffs become more popular.

How UpVolt Can Help You Save More

At UpVolt, we help homeowners unlock the full potential of their solar PV systems. By adding battery storage and HEMS, you can stay in control, save more, and rely less on the fluctuating grid.

With rising energy costs, there’s no better time to improve your system. Reach out to UpVolt today to discuss options and take the next step toward energy independence.

Ronan de la Gournerie

Product Management & Marketing

Share article

• 
• 
•