Electricity Rate Hikes Aren’t a Problem When You Have Solar Power
Living in New York, the high cost of electricity is something that people begrudgingly come to expect. While New York is a wonderful place to be, the taxes, traffic, and utilities are hard to live with. In the last two years, there has been a gradual uptick in the cost of electricity. PSEG had a 25% rate hike approved last year, which will be spread over three years. Con Edison is implementing 15% electricity rate hikes over the same period.
In the past, you had no option but to accept the ever-increasing bills. Today, solar energy is an alternative. With solar panels on your rooftop, you can spend less on your utility bill and even get paid for some of the energy produced by your home.
Net Metering Solar in New York
When you have solar installed at home, you’ll be eligible to join a Net Metering program with your utility provider. This allows you to get paid for electricity that you send to the grid.
During the day when your panels are at their most efficient, you’ll often generate excess electricity. This will be sent out to the grid and your meter will spin in reverse. There are two major advantages to this system.
- When your meter spins in reverse it will help to cover some of the electricity that your home uses in the evenings.
- Months with high production will balance out those with low production when the weather is sub-par for solar.
Using solar during the day and getting compensated for what you send to the grid makes solar the most affordable way to power your home.
Solar Protects You from Electricity Rate Hikes
With increasing prices in New York, the cost of utilities can be a major strain on your household finances. Inflation and higher rates have sent prices skyrocketing over time.
Solar removes a significant burden by reducing what you owe to the utility company every month. Additionally, solar could potentially become more valuable over time, as it could offset standard electricity rate hikes.
This is why going solar is also known as becoming energy independent. You’ll still use some electricity from the grid, but you’ll enjoy significant savings with a strong return on your investment in solar panels.
You Won’t Pay Upfront with SMART Solar Financing
If you think solar is too expensive, we can tell you that it’s within reach. The cost of solar panels has come down massively in the last ten years. Solar panels are more efficient, so the savings are better than ever. It means you’ll get a better return on your investment than in the past.
You can also use SMART solar financing to pay for your panels. An interest-free period is available with no downpayment. The initial period will be based on the federal and state solar tax credits that you’re eligible for. Credits and incentives make solar even more affordable.
Most solar systems will pay back within ten years, meaning that the savings within that time will be equal to the cost of getting set up. You’ll get a cost/benefit report from New York Power Solutions, so you’ll see the potential savings before you commit to the installation.
Your Free Home Solar Estimate is Ready
You can get a free home solar estimate online. Initial ballpark estimates are based on satellite data. We’ll take you through a detailed home energy savings evaluation and will inspect your home and roof to provide a final estimate. You won’t pay anything until you’re ready to move ahead with the installation.
New York Power Solutions is the most experienced solar installer in New York. Claim your energy independence and protect your home from the continued electricity rate hikes in New York.