The Time for Solar is Now
Spend energy and save money with solar panels.
As if utility costs aren’t expensive enough already, the recent reforms from Pacific Gas and Electric Co (PG&E) will result in customers throughout Northern California experiencing up to a 7% increase in their monthly bill. All of that adds up over a year and that’s a lot of extra cash being spent on energy. The California Public Utilities Commission (CPUC) sanctioned this decision clinging onto the claim made by the PG&E that the $2.37 billion of extra revenue will go directly towards paying for upgrades to the electricity grid and the natural gas pipeline network.
It’s true that PG&E have recognised that this is a huge price hike for its customers and they have offered discounted electricity and gas rates for low income families. However, the general statement is that residents need to find their own ways to save energy and therefore save money. However, saving energy doesn’t need to be your only option. It is possible to save yourself some cash and keep on spending as much as energy as you like, you just need a little help from that big bright thing in the sky.
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Strike while the iron’s hot. This is possibly one of the best times to invest in solar panels.
Here are two key reasons to jump on the solar bandwagon now.
Investment Tax Credit
The recent spending package details that solar and wind tax credits have been given multi-year extensions. The Investment Tax Credit (ITC) will stick at the current 30% rate for at least another three years. It is proposed that this will begin to gradually decline in the year 2021 and will start off the year 2022 at 10% where it will stay. Investing in solar now will allow you to get the best financial benefit.
CPUC Solar Rules
The current rules allow solar customers to pretty much pay nothing at all for their use of the grid, whether they are buying or selling. However, there are proposals in place that want to change this. Although it may be a while before these changes are in place and they might not even happen, if you can have your system fully functioning by then you won’t feel the extra cost thanks to the proposed flexibility of the Time of Use rates. If you have behind the meter resources that would allow you to manage the supply and demand of energy created via your solar panels, then you might actually end up being better off!
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