2017 is coming to an end and New Year’s resolutions are in full swing, bringing to light new ways to save and plan for future investments. Energy companies are also planning for 2018, which means significant rate hikes for loyal customers. So, how do you plan to save your hard-earned money when your utility companies are planning rate hikes without disclosing when or how much? It’s not possible. If you are a customer of traditional energy companies, you don’t have any control over the cost of your energy or the rate at which these costs will increase. However, do solar panels save money?
Adding Solar panels to your home in 2018 will allow you to “invest in your nest”, so you can save money that otherwise would have been spent with your energy company. in 2018, PG&E is expected in increase its revenue requirements by 5.7% or $469 Million (http://ora.ca.gov), which will be generated by passing rate hikes onto loyal customers. Getting out from under your energy company allows you to save money rather than continuing to pay ever-increasing rate hikes and protect yourself from energy cost inflation.
The idea is the same as buying a home. Renters have little control over paying for rental increases handed down by landlords whereas homeowners can rest assured that their home costs will remain stable and will also result in increased home equity. It’s a win.