To illustrate the long-term savings from solar versus increasing electric costs, let’s run some numbers.
Say your current electric rate is 15 cents per kWh, costing $150 per month. If the utility raises rates just 3% annually, in 25 years your bill would balloon to over $300 per month! And after that, you’d be still subject to the same increases. And just to point out, 3% is nowhere near the 20-30% increase thousands of Florida homes had in 2023…
Instead, you could install a solar array and cover your typical usage for a fixed rate that is in the same range, but without increasing every year. That is how solar panels lock in low energy costs, by stopping their constant increase.
Solar tends to cost around 60% of the 25 year cost of the electric companies, and that’s without any of our other Home Efficiency Features. Financially speaking, it’s just not financially sensible to keep buying energy from the electric company.