Are you one of the many Central Valley residents tired of paying increasing electricity bills to PG&E and SCE? With rates expected to continue to rise, it can feel like you're throwing your hard-earned money away. If so, solar panels and battery storage might be the solution you've been looking for. In this blog, we'll explore how solar energy can help you save money and gain energy independence at home.
Why is PG&E Increasing Electricity Rates?
Californians are facing a tough time with rising electricity rates. Beginning in February, PG&E raised rates by 8%, with more price hikes expected later this year. The rate change was terrible news for Californians, as many are already paying some of the highest utility bills in the country. The reasons behind the rate hikes are numerous, including the following:
- Maintenance cost of aging infrastructure
- Paying off PG&E debt
- Cost overruns from new natural gas pipeline construction
- Safety upgrades
- Rising natural gas and wholesale electric energy prices
Fines were levied against PG&E in 2018 as a penalty for causing the 2017 Northern California wildfires. The company’s faulty infrastructure was determined to be responsible for several wildfires throughout Northern California. Ultimately, the utility was ordered to pay $1 billion in civil penalties. The fires damaged infrastructure, including power lines, which further increased PG&E's cost of providing service. The burden of these fines is being passed on to PG&E's customers.
What PG&E's 8% Rate Hike Means for Homeowners
The 8% rate hike in electricity rates has left Californians worried about how their energy rates will be impacted each month. Unfortunately, there's no simple percentage increase across the board, as the tier you select will determine how much your bill increases. On average, residential customers will see an increase of $14 on their electric bill each month after factoring in the benefit from the California Climate Credit. For homeowners who rely heavily on electricity for heating, cooling, appliances, pools, Jacuzzis, EVs, and electronics, the rate increase could significantly impact the overall cost of owning their homes.
The PG&E rate hike could leave many families with the difficult choice of cutting back on other expenses to power their homes. For many homeowners, the increased cost of electricity may come as an unexpected expense. The rate increase could significantly reduce their disposable income, making saving for emergencies, investing in their future, or enjoying other non-essential expenses more difficult. While customers can’t impact the rate increases enacted by PG&E, they can take steps to reduce their energy dependency and invest in creating their own power.
Going Solar in 2023 Means Beating the Heat and Saving Money
If you are tired of receiving high electricity bills during the hot summers of the Central Valley, adding a roof mounted or ground mounted solar system to your home can help you regain control of your energy usage and reduce your monthly bills. With our valley topography and hot summers, a well-designed solar system can cover your electricity use. Going solar reduces your dependence on your local utility, helping you avoid rising electricity rates. Plus, with the Solar Investment Tax Credit, you can save up to 30% through tax credits. Going solar is more affordable than ever. But why stop at just solar panels?
Adding battery storage to your solar panel system is the next step in gaining energy independence from the utility company. With battery storage, you can collect the excess solar energy created during the day and use it at night or during peak hours when electricity rates are at their highest, reducing your reliance on the grid and avoiding the impact of changes to the net energy metering policy. Battery storage is especially useful in areas prone to natural disasters and blackouts. With a backup battery system, you can rest assured that you and your family will have power even when the grid goes down.
Take Action and Schedule a Consultation Today
If you're ready to take control of your energy usage, save money on your monthly bills, and gain energy independence, schedule a consultation with one of our solar consultants today. Our team will design a solar and battery storage system that meets your energy needs and budget. With SunPower by Quality Home Services, you can become truly independent from the utility company and enjoy all the benefits of renewable energy. Don't wait - contact us now and take the first step towards energy independence. We also have financing options available. Call (800) 496-3074 to schedule a consultation.