LIGHTING & ELECTRICALS RENEWABLE TECHNOLOGY
Going green: The top renewable tech for your renovation project Jordan Brompton, Co-Founder and CMO of myenergi, discusses the best renewable technologies for your home renovation project and explains how maximising self-consumption can help to shorten payback periods.
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ccording to statistics from money.co.uk, the popularity of home renovations continues to rise1. More than three quarters of homeowners (77%) invested in improving their property in 2021 alone, with total spending increasing by some 36% year on year2. To some extent, this trend has been driven by escalating national property prices, soaring inflation and rocketing mortgage rates, with many Brits delaying relocation ambitions and instead investing in perfecting their existing property. However, with energy prices also at their highest rates in decades, many others are taking the opportunity to invest in renewable energy generation solutions to protect against price volatility in the long term. While renewable energy generation was previously seen as an expensive, novel solution for the wealthy few, significant investment and development have seen the market accelerate fast. Indeed, mainstream solutions have quite simply soared in popularity, with consumers eager to invest in the futureproof home energy tech of tomorrow. But with so many options available, which is right for you? What’s more, with generation subsidies no longer a major part of the equation, how can you ensure that you’re making a savvy financial decision for the long term? I-B U I L D/ M AY/23
Energy, sustainability and renewables
When considering investing in renewables, it’s important to consider the numerous options available. Though most people want to save money, others will put a greater priority on cutting emissions and lowering their carbon footprint. Mainstream generation solutions, such as solar PV, heat pumps and small-scale domestic wind turbines, are an excellent place to start – offering a simple way to offset reliance on the grid and take control of your energy spending. While many have the misconception that purchasing and installing hardware is expensive, this really doesn’t have to be the case. Indeed, according to Solar Together, a single solar panel can cost as little as £350. A typical 4kW system, which can be purchased and installed for less than £6000, will cover around 29m 2 of your roof and provide sufficient power for a family of four (for much of the time). With data from EDF suggesting that the average annual energy bill for a four-bed property currently sits at £1639 per year 3, the payback period of renewables is far shorter than many would have you believe. But while installing renewable energy generation technology might, therefore, seem like a no brainer, it’s important to understand the limitations. While
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free energy is a huge hook, the peaks and troughs of renewable generation are unpredictable. What’s more, most homeowners are out of the house during periods of high generation and use most energy during low periods. As such, it’s not unusual to see users exporting surplus energy to the grid and buying it back (at a far more expensive rate) when they need it most. In the past, this scenario has proven a barrier too high for most homeowners to overcome. But, thanks to significant developments in battery technology, as well as new innovations in self-consumption solutions, the picture is changing. At myenergi, we’re renowned for our innovative eco-smart product range, which has been designed to maximise the value of renewable energy generation technology and improve payback periods for homeowners. We’re best known for designing the market’s first eco-smart electric