On March 1, 2023, PG&E implemented more sweeping rate hikes across California, totalling a nearly 17% uptick in just three months. On top of already high utility costs, this increase is undoubtedly causing financial strain and stress for many. As utility rates continue to soar and changes to Net Energy Metering (NEM) loom on the horizon, savvy home and business owners are taking control by going solar.
Here is a breakdown of why PG&E is raising rates and how you can avoid the price gouging by signing up with A.M. Sun Solar before regulations change.
Why is PG&E raising utility rates?
PG&E spokesperson Paul Doherty cites several reasons for the rate hike, including:
- The cost of maintaining infrastructure
- Paying off debt accrued during prior energy crises
- Investing in safety and grid upgrades
- A reduction in hydroelectric generation due to the drought
- Higher natural gas and wholesale energy prices
- Federal fines due to faulty equipment that caused several wildfires
All PG&E customers will see bigger numbers on their electricity bills, with the amount depending on the plan they choose. The average residential customer can expect to pay $14 more per month. By PG&E’s estimate, this equates to 9.2% more than what they’re currently paying. Those under the CARE program are facing a larger leap of 11.7% or around $10.66 a month.
How will installing a solar system save me money?
Installing a solar system with a backup battery is the best way to offset your rising electricity costs. Solar panels convert the sun’s energy into electricity, providing you and your family with a free source of power. This free source of power can decrease the amount of electricity you have to purchase from the utility company, thus saving money for years to come.
Solar systems provide additional savings by increasing your home’s property value. Prospective homebuyers are always looking for properties with sustainable features. By investing in a solar system, you can attract motivated buyers and increase the value of your home.
Of course, solar systems are dependent on the sun. So when the sun goes down, the system’s production stops. By installing a solar system with a battery, you’ll be able to use stored energy during peak usage hours, at night, and during emergencies.
Sign up now to avoid NEM 3.0
California’s (NEM) 3.0 is taking effect next month, significantly reducing the rates homeowners get for sending energy back to the grid. To get grandfathered in with the current beneficial rate structure, customers must have their systems correctly submitted for grid interconnection by April 14, 2023. So sign up with A.M. Sun Solar now to receive three times the credit for your excess solar energy sent to the grid. This will maximize your savings over the lifespan of your solar system for 20 years!
Our team of friendly, local solar experts are here to help. Fill out the form below to get started with A.M. Sun Solar today or connect with us at hello@amsunsolar.com or (805) 772-6786.