International Finance
Energy Featured

How people in UK are cutting heating bills

IFM_UK Renewable Energy-image
It is done by using the technology of heat pumps, which is similar to how a refrigerator works.

With electricity bills mounting, people have started opting for “ultra-efficient” heating systems. It is done by using the technology of heat pumps. The heat pumps work similarly to refrigerators.

In this system, solar panels are fitted into the house along with the air source heat pump. The heat pump and panels work together along with the passive heating system. A network of pipes wrapped around in concrete will store heat in the summers. In winters, it will slowly release the heat.

According to a report on the BBC website, because of the heat pump and solar panels, energy bills have been reduced substantially. But a lot can still be done.

The family believes that they would like to have a battery storage facility where some of the solar energy can be stored. This energy will then be useful during the night. But because of the cost issue, they are unable to do this.

According to the data available in the government records, almost 85% of UK homes still use mains gas for heat. By doing this, it leaves them at the mercy of volatile international gas markets which then dictate pricing.

In the month of April, the energy price cap was raised by 54% and almost 22 million people’s bills were set to rise.

What's New

M-Money: The payment gateway for financial inclusion

WebAdmin

The ‘Tijara’ route of empowering Bahraini SMEs

WebAdmin

Business Leader of the Week: Meet Jim Ratcliffe, British billionaire & part-owner of Manchester United

IFM Correspondent

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.