London, 14 March 2018 - New research has found that when considering sustainable products and services, Brits are most concerned with getting better control of their energy consumption (49%) and saving money (42%). Indeed, more than half of Brits (51%) would choose an electric car over petrol or diesel if they could save money or make money in the long-term.
However, the research - commissioned by OVO Energy, the UK’s largest independent energy supplier - suggests an overwhelming knowledge gap is stopping us from using the very technology that would achieve these aims in the long-term.
Based on the number of Nissan LEAF electric cars on UK roads at present, new vehicle-to-grid chargers could enable the cars’ owners to contribute more than 114 MW to the National Grid at any time; enough to power more than 300,000 homes.
But almost nine in ten Brits (87%) were unaware of this technology that enables stored renewable energy from electric cars to be sold to the grid at peak times for money. The research further showed that around two in five (38%) UK adults that own or intend to purchase a car in the next 12 months, and were not aware that you could purchase this type of charger, would be more likely to buy an electric vehicle if they could use their car as a virtual power station.
Home batteries also allow consumers to lower their energy bills by storing abundant electricity when it’s cheaper, and using it around the home when national demand spikes and energy is most expensive. Four out of five Brits (81%) were unaware this type of battery exists, but more than half (57%) would have one installed if it could save them money on energy bills by using energy outside of peak times.
Tom Pakenham, Director of Electric Vehicles, at OVO Energy, said: “People are clearly keen to start their green journey, but a lack of knowledge means many are unaware of the full benefits of harnessing renewable energy. To inspire people to be part of this solution, they’ll need convincing that this new technology would be a practical addition to their lives as well as safeguarding our environmental future.”
“From home batteries to vehicle-to-grid chargers, at OVO Energy we are working hard to join the dots for customers and show that there are practical, cost-effective ways to go green for the long-term.”
Short-term cost implications of renewable energy products and sources also proved a concern for shrewd Brits. Although almost half of UK (47%) adults that own or intend to purchase a car in the next 12 months would be put off from buying an electric car because of cost, 57 per cent would be more inclined to purchase an electric car if they received financial support from the government.
However, awareness of the Government Plug-In Car Grant – which can help people save up to £4,500 on a selection of environmentally friendly electric and plug-in hybrid cars – is shockingly low, with 79 per cent of people unaware of its existence.
The research also showed that:
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Notes to Editors
About OVO Energy
OVO Energy is the largest independent energy supplier in Britain. Founded in 2009 by entrepreneur Stephen Fitzpatrick, OVO Energy redesigned the energy experience to be fair, effortless, green and simple for all customers. Today OVO Energy is a progressive energy company that serves more than 850,000 retail energy customers, striving to deliver more abundant clean energy for everyone.
OVO Energy Ltd, registered office 1 Rivergate Temple Quay Bristol, BS1 6ED, company no. 06890795 registered in England and Wales, VAT No. 100119879
Additional terms and conditions
Please see below for full terms and conditions on 33% renewable electricity, 3-5% interest rewards, exit fees and saving claims.
1Monthly cost - Representative monthly direct debit costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying in advance by direct debit, including online discount. All rates correct as of 2/3/2018, but may go up or down.
2Weekly cost - Representative weekly costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas). All rates correct as of 22/11/2017, but may go up or down.
3Pay Monthly Savings claims: Saving based on the estimated annual cost of OVO Two year fixed tariff for a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying monthly in advance by direct debit, including online discount. Comparisons made against the average of the Big 6 standard variable tariffs with equivalent features. All rates correct as of 2/3/2018.“The Big 6” are British Gas, Scottish Power, SSE, Npower, E.ON and EDF.
4Pay As You Go Savings are based on the average estimated annual costs for new PAYG OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location.
We include almost twice as much renewable electricity as the national average: At least 33% of electricity in all of our tariffs comes from renewable sources. The national average, according to Ofgem as at March 2014 was 16.7%. For more information please visit this page.
33% of your electricity comes from renewable sources: 33% renewable electricity as standard as of 1st April 2015. Renewable electricity is generated from wind, solar, geothermal, wave, tidal, hydro, biomass, landfill gas, sewage treatment plant gas and biogas.
OVO Interest Rewards: Interest Rewards are paid on credit balances of customers paying by monthly Direct Debit. It is calculated at 3% in your first year, 4% in your second year and 5% in your third year (and every year thereafter) if you pay by Direct Debit. Interest Rewards are paid monthly based on the number of days you’re in credit and the amount left in your account after you’ve paid your bill. Full terms apply: https://www.ovoenergy.com/terms
95% of new customers save when switching to OVO: Savings based on the average estimated annual costs for all new OVO customers quoted through the OVO website, compared to their current supplier and tariff. Comparisons taken between 01/05/2016 and 11/10/16. Incl VAT.
94% of surveyed customers would recommend us: OVO conducted a survey of their customers in between 1st January 2016 and 15th April 2016. Out of 15,312 customers who responded, over 94% rated OVO 6+ when asked 'how likely would you be to recommend us to a friend and family, on a scale of 1 to 10.
uSwitch's Energy Supplier of the Year 2017: OVO energy was voted and awarded 'Energy Supplier of the year' and best for: Overall Customer Satisfaction, Most Likely to be Recommended, Value for Money, Best Deal for You, Customer Service, Billing Services, Energy Efficiency, Meter Services, Online Services, Green Services and Transfer Process. OVO Energy scored a 96% customer satisfaction score.
* EV - Everywhere, full terms and conditions: https://www.ovoenergy.com/ev-everywhere/terms
* OVO SolarStore (Beta), full terms and conditions: https://www.ovoenergy.com/ovo-solar-store/terms