Cutting monthly bills by hundreds
That energy costs are rising won’t be news to any small business owner. What might come as a surprise, however, is the significant bill reductions that sustainable measures can generate.
Having purchased sizable assets including solar panels and a solar battery, how much has Toogood saved so far?
“Bear in mind we run computers, printers, the car, and a home,” Toogood reminds Startups, “but our bill last month was £56 – and that’s when the prices had gone up dramatically.”
“Last year, our typical monthly bill was around £220. [Going green] has reduced our bills by anything between 50-75%, depending on what time of year it is,” she reveals.
There are caveats, of course. While solar technology is constantly advancing, it’s still the case that residential panels need daylight to produce energy. The darker winter months therefore won’t bring as much in savings – although still enough to make them a better choice than non-renewable sources.
Certainly, cost also cannot be ignored. The couple recently fitted a heat pump in the house to eliminate their reliance on gas – the price of installation was a hefty £14,000.
“The cost was phenomenal,” acknowledges Toogood. “But we didn’t pay for it.”
By some savvy investigating, the Toogoods heard about a trial being conducted by the energy supplier, OVO, into heat pumps and managed to sign themselves up for it. In exchange, OVO regularly analyses the pump’s data to check its efficiency.
“Had we not got on a trial I’m not convinced we would have got the heat pump, because the cost was so huge,” Toogood admits.
“The heat pump is a less obvious decision to have fitted for your business. If you’ve got a finite amount of cash, solar panels are far more economically viable.”
Is it worth switching supplier before the price cap rise? See our guide to Business Electricity Suppliers and Prices