As energy prices continue to rise, switching to solar is the perfect way to regain control of your budget and start saving on your electric bill.
With each electricity price increase, it’s becoming more and more appealing for customers to switch to solar. Between 2020 and 2021, average U.S. electricity prices raised from 10.59 to 11.18 cents per kilowatt-hour. In Pennsylvania alone, prices are increasing up to 44.6%. In central Pennsylvania every provider has increased its’ rates in the last year. PPL increased its rate in December 2021 and another increase in June 2022.
Solar energy is a reliable, effective energy solution that can help you protect your finances and take control of your energy bills.
Reasons to Switch to Solar in 2022
Should you go solar now? Start by looking at the benefits. Choosing solar gives you several advantages:
- Control over your budget: Solar panels are one of the best answers for how to lower your electric bill. Instead of reworking your budget to account for energy prices going up, you’ll be able to bank credit from your power production. Depending on how much energy you produce, the power company might even need to write you a check by the end of the year!
- Incentives: Pennsylvania solar panel programs give you even more ways to save on your electric bill. Investing in solar panels will let you take advantage of a number of Pennsylvania solar incentives from tax credits to loans to rebates.
- Sustainability: The importance of using sustainable products is more apparent now than ever. Solar panels use renewable energy to power homes and buildings, part of a sustainable process that will last long into the future.
As you can see, there are plenty of reasons to make the switch to solar in 2022. Whether you’re looking for financial savings, control over your budget or a sustainable energy source, now is the time to make the switch.
Commercial Benefits
Running a business means finding new ways to innovate while focusing on the bottom line. Solar power gives you more stable electricity prices, making it easier to budget and plan for the future. When you switch to solar, you can also take advantage of other benefits like:
- Increased property value: Switching to solar is an investment in your business and property. As solar continues to become more popular, a solar energy system will help you stand out from the crowd and entice buyers when you want to sell your facilities. If you’re going to expand or make improvements, a higher property value can help you secure a mortgage at a competitive rate.
- Better brand image: Sustainability has become increasingly important in recent years. People see solar as an answer to fluctuations in the global supply chain and a responsible way to help the environment. Switching to solar tells your customers that you care about your company’s impact and that you’re committed to reducing your carbon footprint. Demonstrating a commitment to sustainability sends a strong message that will resonate with many customers.
- Low maintenance requirements: Once you’ve installed your solar panels, they’re very easy to maintain. You’ll be able to rely on them to do the job for a long time.
- High return on investment: Your investment in solar power will give you high returns. Commercial solar installations pay for themselves in an average of 5-6 years and with the present PPL rebate, it could be a quicker payoff.
- Cut costs and sustain your bottom line: By switching to solar, you can avoid the electric rate increases and save money. Presently there is a rebate available for PPL customers, which, when combined with tax incentives, could cover 75% of the installation cost. Businesses are quickly realizing that going solar is an investment with continuous financial returns.
Residential Benefits
Solar energy is also an excellent option for homeowners. With all the other costs you need to take care of — groceries, gas, mortgages, repairs — it can be helpful to avoid future electricity rate hikes and eliminate an electricity bill. For those who choose to finance their solar, KC Green’s financing rates are usually lower than the current electricity bill. Converting to solar power in 2022 will let you:
- Boost your home value: Solar panels help you boost the value of your home. With their promise of energy savings, they’ll help your home stand out from the rest. The sustainability of solar energy will also appeal to younger buyers who may be interested in the environmental benefits.
- Control your finances: It can be challenging to plan for fluctuating prices throughout the year. It can also be very frustrating given the electric rate increases. Products that are affordable today may cost more just a couple of weeks from now. Figuring out how to lower utility bills is much easier when you have a reliably constant energy source. When you invest in solar, you have a leg up on taking control of your finances and avoiding future electric rate increases.
- Take advantage of incentives: If you are interested in switching to solar, 2022 is the time to do so. The incentives available now may be phased out once target sustainability levels are reached. Getting in early will let you make the most of the benefits.
Cost of Solar Panels Over Time
The cost of solar panels has dropped drastically since their creation. Solar power cost over time will depend on a few different factors:
- Innovation: The U.S. Department of Energy Solar Technologies Office funds research and development in several categories of solar technology. As a result, solar panels have become highly efficient and offer customers more value for their purchases than ever before. If this trend continues, solar technology will continue to evolve and become even more effective for its price.
- Market growth: The demand for solar has grown steadily over the past decade. This trend is likely to continue since solar offers a stable way to get energy. The demand and market growth for solar will dictate its overall cost.
- Cost of raw materials: As with most products, solar technology will also rely on the cost of raw materials for construction. These costs may change with impacts on the global supply chain.
There is some uncertainty in all these factors — that’s why it’s best to take advantage of current prices and invest in solar now.
Start Saving Today With KC Green
At KC Green Energy, we provide residential and commercial customers with easy and effective solar innovation. We’re a family-owned local Lancaster company with both roofing, solar and electrical expertise. We will answer any questions you may have and give you confidence during the installation process. Contact us today for your free estimate!
