As the price of, well, everything seems to be climbing lately, we want to highlight how solar photovoltaics (PV) are a great way for homeowners and businesses to combat inflation.
Here’s how … When you go solar, you lock in the cost of the electricity your system produces. Every kilowatt hour your system produces is protected from electrical rate increases because you own the system powering your home and you aren’t “renting” electricity from a utility. In fact, the longer the solar PV system produces beyond it’s 25-year production warranty, the better the hedge against inflation.
Electric utility costs have been rising steadily even before inflation starting adding to our cost of living. We expect this tend to continue.
Seattle City Light, (SCL) recently announced new rate increases, as did Puget Sound Energy, Snohomish PUD and Tacoma Public Utilities earlier this year. You can see how SCL’s rates have increased since just 2018 in the following tables.
Solar won’t eliminate all electrical inflationary impacts as basic interconnection fees and any electricity not produced by the system (over the course of the year) will remain vulnerable to utility rate increases.
Imagine being able to lock in the cost of your housing, food, clothing, healthcare and transportation for the next 25 years! That’s what going solar now does with your electrical expenses. If you drive an ICE (internal combustion engine), you’re subject to the whims of Big Oil and their pricing. If you drive electric and power it from a solar PV system you own, you’ve also frozen part of your transportation expenses.
Doing something great for the environment and future generations is also pretty awesome – while saving money in the long term.
Find out what solar can do for YOUR long-term budget by filling out our Free Quote form and we’ll get you a no-pressure customized quote based on your roof and electrical needs. Let us help you freeze your electrical costs for the next 25 years.