Can plug-in solar panels save out energy bills - plus what's the fuss about private credit?
4/3/202649 min
A solar revolution is on its way to Britain and can help save us from volatile and high energy bills, if you believe Ed Miliband.
Plug-in solar panels are popular across Europe but currently rules in the UK mean that we can’t buy them and, as it says on the tin, simply plug them into our home’s electricity supply.
But changes are afoot that will mean we could soon be buying individual panels that cost £400 and simply plugging them into a three-pin wall socket, where thanks to the magic of an inverter they would put power into your home.
And we might even be able to nip down to the middle of Lidl to buy them, with the discount supermarket among those talking about offering them – in its famous middle aisle.
In Germany, Ikea sells panels and there and in other European countries they are popular, so could they transform our homes? How long would it take to get your money back – and what’s the prepper angle on the interest in all this?
Georgie Frost and Simon Lamber talk plug-in solar panels and energy bills on this episode of the This is Money podcast.
They also discuss summer holiday flights and what the massive disruption triggered by the Iran war will do to prices and demand – and how to target a cheaper break.
Plus, with the government announcing its new town locations, where do property experts think the best one will be.
And, there are rumblings in the finance world over private credit, with the Bank of England among those warning about what’s been dubbed shadow banking. What’s going on, could it trigger a financial crisis and should you be worried?
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Transcript preview
First 90 secondsGeorgie Frost· Host0:00
[upbeat music] Welcome to This Is Money podcast, sponsored by Trading Two one two. Download the Trading two one two app and open a cash ISA with promo code TIM to get the twelve-month bonus promo rate of four point five eight percent. Terms apply. I'm Georgie Frost, and joining me today is Simon Lambert. And coming up, more of us are considering switching to greener power sources as concerns about rising energy bills continue. Could plug-in solar panels be the answer? Simon will tell us what they are and importantly, whether they'll save us money. Plus, soaring fuel prices may be threatening to derail your summer holiday budget, but it's not too late to bag a deal, say the experts. A wave of new towns is set to be built across Britain, but where's the best place to live? And Simon delves into the world of shadow banks and private credit. Should we be concerned? Don't forget, to stay up to date with all the latest breaking money news, just go to thisismoney.co.uk or download the app. But first, as war in the Middle East threatens to push up energy bills, more of us are exploring greener power sources to save money. Energy Secretary Ed Miliband is desperate to get more of us to wean ourselves off fossil fuel power. The solution, could it be plug-in solar panels, which might be heading to a supermarket near you within months, according to Labor. So This Is Money dug into this a little bit more. What they actually are, how they work, who can buy them, where you can buy them, and whether they could save us money in the long run. Simon, firstly, welcome. Overview,