60% rise in energybills per annum over the next decade, Stuart Lovatt of Heat my Home adds; “The age of easy andcheap oil is coming to an end. It doesn’t suddenly come to an end; obviouslyit’s a gradual change, but we’re moving away from cheap oil at a much fasterpace with increasingly difficult to extract oil and an outdated energyinfrastructure here in the UK, which will push energy bills up further over thecoming years."
The UK Energy ResearchCentre has added, there is a ‘significant risk’ that global oil production willpeak in less than ten years time. It also says that there is a growingconsensus that discovery of new oil had peaked in the early 60s. Since then,new oil fields have got smaller and smaller.
The future of energyis unknown but what we do know is global reserves are finite, and global demandhas increased, meaning there has to be a day when supply and demand rulesdictate higher energy as a best case scenario or a global supply famine as aworse case scenario.
For those concernedabout climate change, an unsatisfactory conclusion is that high oil pricesresulting from a peak in production might encourage countries to startconverting non-liquid fuels like coal to liquid fuels to plug the gap. Thesetechniques are carbon intensive and will only put more carbon dioxide into theatmosphere, making climate change worse.
So how does all thismake solar panels financially viable? With increasing energy pricing globally,this makes extraction of raw materials, manufacture and installing of such asystem more and more expensive as the chronological clock ticks.
Stuart Lovatt ofHeat my Home says: “We have promoted the use of solar panels when solarwas still a green product and only bought by environmental orientated people. Alot has happened in the last 5 years and the UK is slowly waking up to therealities it faces with energy security, continued energy price rises and theglobal energy issue’s. Suddenly solar panels are a real financial benefitand are installed not just by green’s, but also energy savvy people witha longer term view.
Yes, quality is important when choosing a system but equally youhave considered the costs. I see installing a solar panel system or solar tubesjust like having a new kitchen or bathroom. You would not the let consider thecheapest quote because you run the risk of a poor tradesman and/or damage toyour property due to poor workmanship. Exactly the same principle should applywhen installing solar panels.
The way we see solar panels in the UK, is as a long terminvestment. Not in green terms although this in itself should be long termview, but because they have such a long lifespan, typically 30 years they areviewed as a long term investment financially as energy prices will forever keeprising, and/or increasing the value and sell ability of your home so ahomeowner can benefit even if they decide to not stay in their currentproperty.
Heat my Home hasbeen promoting the use of solar and is educational, so people can find aquality solar system worth their investment.