This Year’s Holiday Gift from Nationwide Utility Companies? Rising Electricity Costs

Families across the country are suffering this year due to increased pricing for nearly everything they use on a regular basis – and one of the most staggering price hikes has been to their electricity prices. With severe, freezing weather and higher costs to keep houses warm, it’s even harder to make ends meet right before the holidays.

In some cases, states are seeing a jaw-dropping 50 percent increase in utility costs. While these numbers are alarming as we inch closer to the holidays, there are things you can do to avoid the rising costs.

Heard enough and are ready to upgrade your home with clean, price-protected energy? Call us today at 1-888-MOMENTUM.

Utilities Rising Across the Country

Rising utility rates are sweeping across the nation worse than ever before. For example, residents in Connecticut are expected to see their electric bills increase by almost 50 percent, according to their Public Utilities Regulatory Authority (PURA).[1] Energy suppliers there procure electricity twice a year, and prices are changed on January 1 and July 1. Eversource, a utility company in Connecticut, will see their rate double from $0.12 cents to $0.24 cents per kilowatt hour for the first six months of 2023. Meanwhile, other customers who use United Illuminating will see an increase from $0.11 cents to $0.22 cents per kilowatt hour.[2]

Connecticut is one of many states that are being affected by these prices. Below is a list of other states experiencing the same issue.

1. New Jersey will see an average rise of 25 percent.[3]
2. California will see an average increase of $0.04 cents come the new year, which comes to about $7 per month.[4]
3. New York will see their electricity bill on average rise an extra $20.90 per month.[5]
4. Residents in Florida will see their bills increase three times between now and February.[6]

While these are just a few states to make a note of, several others are experiencing the same issue.

Switch to Price-Protected Energy

Going solar gives homeowners access to price-protected energy that can help them control their costs and manage their finances. What do we mean when we say price-protected? This means that the cost per kilowatt when you produce energy with your panels will remain the same.[7] This is a great benefit to homeowners who are having a hard time with the rising electricity rates or just want predictable bills each month.

Did you know that the average homeowner can save thousands during the first 25 years of owning their system?[8] Installing a solar panel system allows you to soak up the sun and provide heating, cooling and power to your home for a much cheaper price.

But wait, there’s more. Literally. Adding a battery backup system to your home lets you store excess energy at home. This way, when the power goes out, or you want to avoid peak electricity hours, you can use the extra energy generated by your system to power your home instead of pulling from the grid. Momentum is proud to offer two completely customizable battery modules from Enphase, allowing you to build a unique system right at home. Click here to learn more about Momentum Solar’s battery storage options.

Going Solar with Momentum

Whether you want to go green to save on the ever-rising utility costs, help the environment, or a little bit of both, Momentum is here to help you make a seamless transition solar. Each solar installation is custom-built to fit your energy needs and with flexible financing options, all homeowners have the opportunity to make the switch at a price point that works for them.

If you or a loved one are looking to go solar, call us at 1-888-MOMENTUM today.

Already installed with our team but have questions about your system? Email us today at myinstall@momentumsolar.com.

 

 

 

[1] https://ctnewsjunkie.com/2022/11/17/connecticut-electric-rates-to-increase-nearly-50/

[2] https://ctnewsjunkie.com/2022/11/17/connecticut-electric-rates-to-increase-nearly-50/

[3] https://www.nj.com/news/2022/10/your-energy-rates-in-nj-are-about-to-go-up-nearly-25-here-are-5-tips-to-save-money.html

[4] https://cal-cca.org/bay-area-electricity-provider-considers-rate-increase/#:~:text=Go%20into%20effect%20on%20January,maintain%20rate%20stability%20in%202023.

[5] https://licpost.com/con-ed-plans-to-hike-electricity-and-gas-rates-next-year-lawmakers-call-for-public-hearing#:~:text=The%20increases%20would%20take%20effect,for%20an%20additional%20public%20hearing.

[6] https://www.axios.com/local/miami/2022/12/12/florida-power-light-utility-bills-rise

[7] https://www.lawinsider.com/dictionary/price-protection

[8] https://www.greenlancer.com/post/how-much-do-solar-panels-save