Electricity prices set to soar

With electricity prices forecast to rise by 20% before the end of the year, and a further 30% in the next year or two, there doesn’t seem to be an end in sight for these ever-increasing cost-of-living pressures that we seem to be experiencing in full force this year.

Australia isn’t the only country experiencing these hefty increases. Looking abroad at the UK for a sneak peek of what could be instore for us here, we can see that they have already experienced an exponential increase in their electricity and gas sectors, with the cost of electricity rising 36% from 2020 and 2021. Taking this into consideration alongside recent news, events, and the latest budget announcements, it’s apparent that Australian households and businesses are next in the firing line.

A 50% increase in electricity is unfathomable for most of us who are already struggling to make ends meet (we’re talking about increased mortgage rates, groceries, fuel… actually, everything). However, it’s not all doom and gloom. You don’t have to be paying through the roof for electricity – you can be utilising your roof to its full potential to combat soaring energy prices. Adding a solar battery system to your home or business will see you removing your dependence from the grid and in turn, keeping your hard-earned money where it belongs – in your pocket! If you’re worried about the upfront cost of solar, need not worry! Finance options such as green loans are available, just mention it to one of the team and we’ll be more than happy to help find the best solution for you and your home.

UK data source can be found here.

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