Solar Helps When Rates Increase

Solar Helps When Rates Increase

In the Carolinas, it’s safe to say electric rates won’t be coming down in the next few years. There are a number of reasons why power companies are authorized to ask for rate increases, which state regulators may then approve:

• Cost of purchasing power added to the grid
• Passing along fuel cost increases
• Grid enhancements or modernization
• Cost of programs the utility is providing, energy efficiency services or products

Produce solar, reduce grid energy use

Everyone is connected to the grid, so it’s easy to feel like rate increases are just a necessary part of life. Rate hikes affect e

very electricity user, right? Not exactly.

Investing in solar energy means using less energy from the utility company – often a lot less! Assuming a solar energy system lasts at least 25 years (the term of the warranty on all our systems) it’s not hard to work out the price solar power over that time and compare it to utility power, factoring in future rate hikes. Doing this math shows just how much money solar is likely to save the customer – for homeowners, it can be hundreds of dollars a year, and for larger non-residential solar installations it can save thousands, and these savings increase any time rates go up.

When rate hikes hit, solar helps beat bigger bills

Rate increases are proposed all around the Carolinas – Duke Energy Carolinas in South Carolina currently plans a rate hike that could increase customers’ energy cost as much as 12%. North Carolinians will soon be paying more per kilowatt hour for grid energy too. If that doesn’t sound palatable to you, protect your budget and send the utility a message in favor of affordable, clean energy by going solar now!