A recent Ernst & Young survey has found 1 in 8 Australian households cannot afford to pay their electricity bills and 9 in 10 have or would like to go solar.
The Ernst & Young survey of more than 649 households in Victoria, New South Wales and Queensland states 10% of households reported electricity bills to be the financial issue causing them the most stress at the moment.
Nearly a third of Australians have missed making an electricity bill payment in the past year and more than 10% have missed more than three payments.
60% of households’ main reason for not paying power bills on time was ‘unable to afford payment’. This was significantly more likely to be the reason for households in regional areas (78% vs. 49% in metropolitan areas).
Many households are seeking better deals on electricity; with 48% searching for information on the switching process. However, 42% found the search for contracts, tariffs and policies difficult and gave up. Even so, Ernst & Young states customers are increasingly determined to switch electricity retailers.
The survey also found an appetite for solar remains strong with 90% of Australians having already installed, or would consider, solar power systems.
Of those surveyed, 19% already had solar panels installed, 34% have already considered doing so and 36% have not yet considered doing so, but would in the future.
Saving money was the key driver for those who had already installed solar. For those yet to, cost of installation is the main barrier stated.
Perhaps many of these people who see up-front costs as a barrier aren’t aware of financial arrangements enabling them to go solar with a zero deposit along with payment plan structures that allow households to save as they go.
The Ernst & Young Utilities survey report can be viewed in full here (PDF)
