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The news of power price surges has dominated the media in recent weeks. With reports of increases of up to 18.3%, it’s not surprising
to see so many Australians considering alternative power options to protect themselves from unpredictable power price surges. In this blog
article we will be taking a look at what is causing the power price surge and what you can do to avoid it and any future surges. Let’s
get started!
The primary cause for the surging power prices is the increase in wholesale power prices. According to some sources, wholesale power prices increased by more than 140% in the last 12 months! This is a huge increase which was largely caused by surging prices for coal and gas resulting from global instability with the war in Ukraine.
This is having a massive impact on the energy industry. In fact, some energy providers have even urged customers to leave and find alternative companies to try to avoid the huge power price spikes.
But it’s not just the energy being impacted, so will everyday Australians. Some projections have power prices surging up to 18.3% higher! That is an increase that is sure to hit the wallet hard. So what can Australians do to not only avoid this power price surge, but also protect themselves from any power surges in the future?
There is only one group who aren’t as concerned as the rest of Australia about the impending power price surges, solar panel owners. This is because solar panel owners are not as dependent on the power grid. Instead, most of their power is generated directly from the sun. With a good quality solar battery, some Australians are virtually completely independent from the power grid, generating all the power they need to run their businesses and households.
With a solar power system you can enjoy free and clean energy! Plus, your solar panel system will likely pay itself off within 4 to 8 years! Solar panels truly are the most cost effective way to generate electricity for your home or business. Check out some of the best benefits of solar panels in one of our recent blogs here.
There has never been a better time to install solar panels for your home or business. Times like these show us just how power prices can be and with solar panels you will never have to worry about reading about a power price surge again. Make the smarter choice and install solar panels with the experts at iinergy. We are here to help you identify the best solar options for your needs. Contact our team today on 1300446374 to get started. You can also contact us through our website by clicking here.
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