Solar Helps When Rates Increase


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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!

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Frequently Asked Questions About Solar Energy Systems:

How exactly does going solar and a solar system itself work?
Solar energy begins with sunlight that hits the panels to produce energy that flows into your inverter, which converts the DC energy into Alternating Current (AC) electricity that can be used to power your home. This same energy is then consumed when powering your home’s light, appliances, gizmos, and gadgets. If you feel your home isn’t producing the energy that it needs, the utility will fill in the gaps. If you system produces more energy than needed, that energy will go to the grid and your utility will credit you for the unused power.
How many solar panels do I need for my home?
At Renu Energy Solutions we design our solar panel systems size based on three main factors.

Roof-size/available space: When we look at the size of your roof and the space available, we gather data that tell us the maximum number of solar panels your home or site can hold and we even consider shading. We use a software “Suneye” which takes a 360 picture of your roof and we use this photo to determine if your home is a good candidate for solar.

Energy Usage: When we determine energy usage we look at your past electrical bills from over the course of a year to make sure your system isn’t too big or too small.

Your Budget: We take your budget seriously and most importantly, we want you to be satisfied with our services. We take your feedback on how much you want to spend so that we can size your system appropriately.

What is solar net-metering?
Net-metering is a type of utility policy that controls how your system is connected to the grid and how you are credited for the solar energy you produce.
Does Duke Energy offer net-metering?
Yes! Both Duke Energy Carolinas and Duke Energy Progress territories in NC offer net-metering when your homes goes solar. If you are interested in net-metering, no worries. Our team will guide you through the process as certain utilities have a different application procedure.
Curious about the cost of a home solar system?
When our clients ask this question, we immediately tell Tham about the federal tax credit that comes with going solar. The Federal tax credit for going solar is 26% in 2020. For example, if the total cost of you system was $22,000, when you subtract 26% you are then left with a %16,280 solar system. There is not set price for a home going solar as there are many factors that contribute to the total cost. The price of a solar home can range from $10k to $100k based on the size of your roof, energy usage, aesthetic preferences, and of course, budget.

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