Green energy deals used to come at a premium, but now half of the cheapest deals on the market are green energy tariffs. What’s more, is that they’re now more frequent too: there are 57 green tariffs on the market — an increase of 21 since summer 2017.
Renewable electricity and bio-gas are now more plentiful and cheaper because green sources make up an ever-increasing proportion of the UK’s energy mix. This has led to competitive pricing and a greater choice of eco-tariffs as more challenger brands seek to differentiate themselves by promoting themselves as being environmentally conscious.
With the constant announcements of price rises, a green tariff could save you a considerable amount of money, whilst being a more environmentally-friendly option.
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New uSwitch research shows that nearly four in ten households would consider switching to a green energy tariff, a 10% increase from last year.
Despite this shift in consumer attitudes, there are still some common misconceptions among energy customers: over four in ten believe that green energy tariffs are more expensive than other energy tariffs.
What makes a tariff green?
These types of tariffs don’t require your home to produce its own green energy; for every unit of electricity you use, your energy supplier purchases the same amount from a renewable source such as wind or solar power.
To be classed as a green tariff the supplier must do this for 100% of electricity usage, with some suppliers also offering a proportion of green gas too.
Cheapest green tariffs offered by smaller suppliers
Of those yet to be convinced of the merits of going green, nearly a third said that they wouldn’t switch due to a lack of trust of green suppliers when compared to better-known companies.
The uSwitch Energy Awards 2018 could give you a better idea of whether one of these smaller suppliers is right for you. However, if you really want to go with a big brand name, suppliers such as E.ON, npower, and Co-op Energy now offer green tariffs that are cheaper than their standard plans — so there’s an abundance of green options for all consumers.
Sustainable living increasingly important to customers
Sustainable living is increasingly important to consumers. With green energy tariffs now featuring heavily in the best-buy tables, planet-friendly deals are no longer an expensive luxury for those who can afford to pay for their principles. Whether it’s using less energy around the home or choosing a green energy deal, these are small changes that make a big difference – both environmentally and financially.
Huge investment in sustainable gas and electricity has led to almost a third of the UK’s electricity coming from renewable sources. As more suppliers differentiate themselves by focusing on the environment, green tariffs are becoming much more widespread and much cheaper.
Customers still languishing on the most expensive Standard Variable Tariffs from the big six could save over £260 by switching to a renewable energy deal.This is why it’s so important that policy changes like the energy price cap don’t undermine this expansion by deterring consumers from switching and suppliers from innovating.