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Renewable energy vs. efficient home - MoneySuperMarket 

 

There are many ways to save on your energy bills, we’ve looked at how long home improvements can take to pay for themselves – whether this is improving home energy efficiency, investing in renewable or switching energy provider.

 

Renewable vs efficient

There are many ways to spend less on your energy bills and not only can this be good for your wallet, it can help the environment as well.

Some of the best ways to lower your energy bills - beyond switching tariffs - include making your home more energy efficient, or even installing renewable energy solutions in your home. But the initial costs can be off-putting.

To help you understand the options available and their benefits, we’ve taken a look at the most popular renewable energy and home efficiency options to show how long it takes, on average, before the initial outlay is outweighed by the potential savings.

Save by switching

 

Renewable energy or home efficiency solutions are often an investment, but there are other ways to save money on your energy bills.

Most people can save money simply by switching to a better tariff. MoneySuperMarket customers can save *£27.58 a month by switching energy provider.

* 10% of customers that applied to switch via MoneySuperMarket could save at least £331, February 2019, split by month across the year

 

Renewable vs efficiency

Overall savings of renewable and efficient options

 

Whether you are making your home more energy efficient by installing LED lightbulbs or introducing sources of renewable energy, such as solar panels, these items can all help save you money in the long run.

In general, you will save money faster if you choose to focus on home efficiency, with most people making savings after 9 years and 2 months, on average.

Renewable energy, on the other hand, offers the greatest long-term savings, at £28.33 per month on average, so while it may take longer to see the financial benefit, the returns are usually much greater.

 

A telematics policy is on average £201.64 cheaper for 17-21 year old drivers

Renewable choices vs. efficient homes

 

There are lots of energy-saving options, but not all solutions will be right for your home – and some are more cost-effective than others.

We have taken a look at the most common options across both home efficiency and renewable energy sources for your home, to help you see which could be most suitable for you.

The table below shows how much money each option will save you each month, as well as how long it will be until each option has paid for itself and you will start making these savings.

 

Switching

MoneySuperMarket

Cost of installation -

Saving per month £27.58

Years and Months Until Returns 0 years / 0 months

* 10% of customers that applied to switch via MoneySuperMarket could save at least £331, February 2019, split by month across the year.

Efficient

Energy Efficient Light Bulbs (Per House)

Cost of installation £51.80

Saving per month £27.13

Years and Months Until Returns 0 years / 1 months

Energy efficient lightbulbs reduce the energy required to light your home.

Efficient

Insulation Installation

Cost of installation £466.00

Saving per month £10.75

Years and Months Until Returns 3 years / 7 months

Insulation installed in your home can prevent heat from escaping and reduce the energy required to heat your house.

Efficient

High Efficiency Oil-Fired

Cost of installation £2,000.00

Saving per month £8.67

Years and Months Until Returns 19 years / 2 months

High efficiency boilers require less energy in order to heat your home and your water.

Efficient

Double Glazing

Cost of installation £3,266.00

Saving per month £5.51

Years and Months Until Returns 49 years / 5 months

Double glazing can act as insulation to keep heat in your home and save on energy bills.

Efficient

Lagging Jackets

Cost of installation £15.00

Saving per month £1.67

Years and Months Until Returns 0 years / 9 months

Lagging jackets insulate your hot water tank, allowing the heat to remain for longer and reducing the energy required to heat it.

Efficient

Energy Efficient Light Bulbs (per bulb)

Cost of installation £2.59

Saving per month £1.36

Years and Months Until Returns 0 years / 1 months

Energy efficient lightbulbs reduce the energy required to light your home.

Efficient

A+++ Washing Machine

Cost of installation £255.25

Saving per month £1.04

Years and Months Until Returns 20 years / 5 months

A better rated washing machine can significantly reduce energy usage per wash cycle.

Efficient

Water Saving Shower Head

Cost of installation £15.99

Saving per month £0.52

Years and Months Until Returns 2 years / 6 months

A water saving shower head can reduce the amount of water used without drastically reducing the flow of your shower.

Efficient

Eco Kettle

Cost of installation £29.98

Saving per month £0.07

Years and Months Until Returns 34 years / 11 months

An eco kettle uses less electricity to boil water for tea, coffee, and cooking.

Renewable

Wind Turbines (6 kW System, Uncapped)

Cost of installation £25,500.00

Saving per month £106.13

Years and Months Until Returns 20 years / 0 months

Wind turbines take advantage of the flow of wind to produce energy for your home. Recommended for a family of 4 or more.

Renewable

Ground Source Heat Pumps

Cost of installation £13,000.00

Saving per month £63.75

Years and Months Until Returns 16 years / 11 months

Ground source heat pumps use the heat of the ground to warm your home. It does, however, still use electricity to drive the pump, meaning they're not completely zero carbon.

Renewable

Wind Turbines (2.5 kW System, Uncapped)

Cost of installation £14,450.00

Saving per month £44.22

Years and Months Until Returns 34 years / 11 months

Wind turbines take advantage of the flow of wind to produce energy for your home. Recommended for a family of 4 or more.

Renewable

Solar Thermal Water Heating

Cost of installation £4,000.00

Saving per month £41.75

Years and Months Until Returns 7 years / 11 months

Rather than produce energy like solar panels, solar thermal water heating uses the sun to heat liquid, which is passed into a storage system to provide heating.

Renewable

Rooftop Solar Panels (16 - 3,400 kWh)

Cost of installation £8,000.00

Saving per month £36.09

Years and Months Until Returns 18 years / 5 months

Solar panels positioned on your roof can provide electricity to your house using the light of the sun. Recommended for a family of 4 or more.

Renewable

Rooftop Solar Panels (8 - 1700kWh)

Cost of installation £4,000.00

Saving per month £18.04

Years and Months Until Returns 18 years / 5 months

Solar panels positioned on your roof can provide electricity to your house using the light of the sun. Recommended for 2 adults.

Renewable

Solar Oven

Cost of installation £188.64

Saving per month £9.30

Years and Months Until Returns 1 years / 8 months

A solar oven heats food using only sunlight directed into a small area, without the need for any additional energy.

Renewable

Wood Pellet Biomass Boiler

Cost of installation £15,000.00

Saving per month £8.80

Years and Months Until Returns 142 years / 0 months

Biomass boilers use wood pellets to provide renewable heating, rather than electricity or oil.

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