Isaksen Solar Blog
MA Warns Of Increasing Electricity Prices This Winter
While Europe is currently facing an energy crisis, Massachusetts is unfortunately on a similar path with steep increases in the price to heat and power homes quickly approaching. Since Massachusetts is at the end of the national gas pipeline system and half of New England’s electricity is powered by natural gas.
As originally reported here, MA Government officials are warning and telling residents to make sure they conserve this winter.
This comes after National Grid announced that its customers can expect to see eye-popping figures on their bills this winter. The significant rate increase is being caused by global conflict, high demand and inflation and will start as soon as November 1st when National Grid switches to its winter rates.
To put a dollar amount to the change, a National Grid customer that saw a $179 bill in the Winter of 2020-21 from using 600 kwh that month can expect that bill to jump 64% to $293 a month.
With the anticipated increase National Grid is implementing a Winter Customer Savings Initiative that will help customers save money through available energy assistance programs. National Grid has also acknowledged that their established system requires change to protect customers from these type of electricity rates increases in the future. As National Grid’s Chief Customer Officer, Helen Burt stated, “… we think it’s a good time to work with our regulators and other stakeholders to review the process and electricity supply dynamics in the region, with an eye toward reducing price volatility and maintaining a secure, reliable and resilient energy system for the future.”
These electricity rate increase will also be felt by home owners when it comes to heating their homes with gas this winter especially if they heat their home with oil
How To Save Money On Energy Bills In The Future
The commonly suggested way to immediately decrease energy bills is to decrease your electricity usage. Of course this comes with a shift in you daily routine by limiting the use of electronics, mindfully monitoring which devices you are using and monitoring your heating schedule throughout the winter. The positive is that this comes at no additional cost to homeowners.
While a more expensive option upfront, homeowners are shifting to solar panels to power their home and make a significant savings throughout their future. With the addition of a solar installation, homeowners buy or lease their panels and significantly decrease their energy costs. Having solar panels on your roof generates monthly savings by decreasing your reliance on the utility company to deliver electricity sourced from natural gas. Instead you are producing your own energy from a renewable source, the sun which does not fluctuate in price due to demand or global conflicts. In most cases homeowners are able to completely eliminate their energy bills each month.
Homeowners with solar panel installations in Massachusetts are locking in lifetime savings and no longer have to worry about increasing electricity rates each year. Once their panels are completley paid off they are powering their home for free!
Unfortunately, solar panels are not a fit for every home. If you are interested in seeing if your home wis a good fit for solar give us a call or get started on your free quote!
Should I Get Solar Panels?: A Quick Guide To Buying Solar Panels For Your Home
Benefits of Purchasing Solar Panels
- Monthly Savings On Your Electricity Bills
- The biggest motivator for homeowners to switch to solar is seeing an immediate savings in their next monthly electricity bill once they are installed. Across the country electricity prices continue to rise at historic rates. This is why solar in Massachusetts has become so popular. As of Feburary 2022, Massachusetts has the 4th highest electricity rates in the country. Rhode Island solar panels are also popular as they have the 5th highest electricity rates. Homeowners looking for ways to save money have found solar panels are an efficient solution that creates long-term savings. Instead of paying the local electricity company for your energy supply you are supplying your own energy from your roof or ground mount solar panels. Your solar panel installation will create enough energy to cover your monthly electricity usage so you no longer need to pay your energy provider for their energy. This means the constantly increasing electricity bill you have will now be delivered with ‘No Payment Due’ and in some cases adding credits to your account for overproduction!
- Lifetime Of Financial and Environmental Savings
- With solar panels those monthly savings turn into lifetime savings and a meaningful contribution to helping the environment. By creating your own energy through purchasing solar panels, you avoid paying rising electricity rates that change with the price of natural gas. In most cases, you pay a locked-in rate or loan fee for the lifetime of your solar panels. In 2022, the average price of electricity rose 7.5% from 2021, which meant more expensive electricity bills. With solar in Massachusetts, everytime the price increase that is additional savings for your household since your price stays the same. Once your solar panels are paid off, your electricity is completely free. Over the 25 year lifetime of solar panels that could equal $60,000 in savings. The additional benefit to buying solar panels is the reduction of CO2 emissions since you no longer rely on natural gas. One solar panel can offset have the same CO2 offset as planting 10 mature trees. For the average home that produces 7,000 Watts of solar power, this is the same as planting 180 trees a year. For this reason solar panels is the most significant way to decrease your carbon footprint without disrupting your current way of life.
- Option To Lease Solar Panels or Purchase Solar Panels
- How much money you will save on your solar panels depends on your choice to lease or buy solar panels. If you lease your solar panels then you will not have any upfront cost. Instead of paying a large sum upfront, you get panels on your roof and a locked in monthly payment. This monthly payment will be less than your current electricity bill. However, leasing solar panels can open the door for increased payments in the future if your lease agreement forces you to pay for increases in electiricty rates as the price of energy increases.
- When you purchase solar panels there is an upfront cost which is usually paid for with a loan or cash. However, the total cost of solar will be offset by solar incentives. There are both federal solar tax credits and Massachusetts solar incentives available. These programs will decrease the total cost of solar panels and increase your savings each month and over the lifetime of your solar panels. When leasing solar panels, homeowners do not qualify for these incentives or the ability to create credits which adds up to a lot of added money over the lifetime of your solar panel installation.
- How Much Do Solar Panels Cost?
- Every home solar panel installation is unique. There are a lot of factors that go into determining how much solar panels will cost you. The key factors are how much energy you use, how many panels your home can support, whether you lease vs buy solar panels and what solar incentives you qualify for. The only way to know the price you will pay to install solar panels will be to get a solar quote. At Isaksen Solar, we quote solar for your home at your consultation free of charge.
- Truth About Solar Panels
- We understand buying solar panels can be a major decision for homeowners. That is why the most important part of installing solar panels should be to find the best solar companies in MA and RI. A search of “solar companies near me” is a good starting point. The goal for every homeowner should be to find a solar company they trust. Whether its MA solar or RI solar panels, where to buy solar panels is an important question to answer. At Isaksen Solar, we aim to make the home solar panels process as simple as possible and answer all your questions.