Since December of 2021, energy companies have warned that there will be price hikes this upcoming winter. Due to global conflicts, supply shortages, and inflation these pricing increases are not expected to slow down anytime soon.
Natural gas prices have raised 20%, while National Grid’s monthly electric bills are expected to increase about 60%.
This is only after a single year. The projected prices for the next few years are much higher than we’ve ever seen in recent history. It’s important to protect yourself during this time and to make new financial decisions that can help you maintain a stable quality of life.
Switching to solar is a perfect way to save yourself money, especially in the long-term, and stress. Here’s how switching to solar can protect you in the future.
Major Increase in Electricity Costs
National Grid and Eversource, two of the largest energy suppliers in Massachusetts, have announced that they will be increasing their rates this winter. National Grid is expecting to increase electric bills by 64% while Eversource expects to raise it by 38%.
These spikes were primarily due to the war in Ukraine. It created a supply shortage that disrupted the natural gas and oil industries. These energy suppliers must increase the cost of monthly bills to afford extracting and transporting oil and natural gas.
"National Grid buys electricity on behalf of its customers from the wholesale power market through a regulatory approved process established 20 years ago.” Helen Burt, the company's Chief Customer Officer, said in a statement. “That process has served customers well over the years and provides flexibility for unforeseen events, like limited supplier response to solicitations. But things have fundamentally changed. Today, under a sustained, high market price environment, it is challenging to maintain affordable prices.”
This is a very real and serious problem that will continue to affect the lives of millions, including you.
Natural gas and oil are a thing of the past. They cannot maintain sustainability environmentally, financially, and productively. The world is in a very turbulent phase, and it’s still unclear how much worse these situations will become.
That is why solar has grown so popular in the last few years. People need heat to survive in the winter, whether they can afford it or not, and solar is a renewable energy that you can rely on.
A popular misconception is that solar doesn’t work at well in New England or even during the winter, but solar panels only need sunlight in order to produce electricity. Massachusetts receives 197 days of sunlight per year. That is more than enough to power your solar panel system for as long as you will ever need. It doesn’t need a supply chain. It only needs you.
It allows for more freedom, certainty, and control over your energy usage and monthly payments with less worry about outside sources that are entirely out of your control.
Protecting the Value of Your Home & Finances
There are truly a plethora of reasons why switching to solar improves the value of your home, but the main two to remember are pricing and incentives.
Pricing
A solar panel system in Massachusetts costs between $3 and $5 per watt, typically averaging to a total of $15,000 to $20,000. There are financing options if a client cannot afford to pay it all upfront. Once you’ve installed a solar panel system, you will have full control over your energy usage. You will be able to entirely plan how much energy you are willing to use each month, leaving you in charge of your monthly bill.
Solar is a smart investment. It produces higher returns over time with an energy bill that could be as low as $12 a month, while non-renewable energy is expected to cost at least $300 a month moving forward.
Some homeowners are apprehensive or turned off by the costs of installation; however, they fail to realize that the cost of solar only lowers from this point on.
Incentives
The government has been rolling out tax-exemptions, tax-credits, and other financial reimbursements for switching from non-renewable energy to renewable energy. With the global conflicts, sanctions, rising tariffs, and so much more the U.S. has begun investing in other sources of energy.
When using this to your advantage, not only are you saving money each month, you are able to make the money you spent on your installation back. Solar is the most affordable it has ever been too. This is the perfect time and opportunity to further invest in your home.
Your home’s resale value will grow exponentially. Many people are becoming environmentally conscious and financially savvy. There’s a push for more individual control within the American zeitgeist.
In Massachusetts, homes with solar panel systems typically sell for $15,000 more than those without, and that amount is expected to increase as our culture and energy sourcing continues to evolve.
The Next Step
I have educated many homeowners on the financial, personal, and environmental benefits of solar. It is the energy source of the future since it doesn’t require a supply chain to generate energy. It only needs you.
As a Solar Educator and Expert, I go through the process alongside my clients. I make sure they get the best panels on the market, the most compatible solar panel system for their home, and how to cash-out on the incentives of solar.
If you want to learn more about how you can protect yourself, your finances, and increase your home’s value, schedule a consultation call with me now. Take advantage of this opportunity before it’s too late.
I look forward to working with you!
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