Electricity prices are rapidly rising.
With rising prices, and the worldwide push for renewable energy, solar has become a popular solution.
Over-reliance on natural gas caused electricity prices to spike again last Fall. Now the outbreak of war in Europe has pushed prices of natural gas, oil, and electricity even higher this Spring. The EIA expects prices to rise further this summer.
Current electric prices in Massachusetts and Rhode island are much higher than most other regions in the country. Colder New England winters put a strain on natural gas supplies, causing higher prices. Solar energy provides a fixed cost alternative that is more affordable than ever.
“Starting November 1st, 2021, National Grid will increase its electricity supply rate, from 9.707¢ per kilowatt-hour (kWh) to 14.8¢ per kWh. This is a 52% increase!” – The Boston Globe
“The retail price for electricity in the United States stood at an average of 11.18 U.S. cents per kilowatt hour in 2021. This is the highest figure reported in the indicated period, and represents a year-over-year growth of over five percent” – Statista.com
New England states have the highest electric rates, behind only Alaska and Hawaii.
Below is a graph of the historical growth of electric prices in Massachusetts and Rhode Island.
Rising electric prices are nothing new. Across all sectors in MA and RI, there has historically been a 4-5% average annual electricity cost increase. With today’s tax incentives plus regional rebates, current international affairs, higher prices of electricity, and increased affordability of solar panels, there’s never been a better time to go solar.
A solar installation can stabilize your future electricity costs. Solar enables you to pre-purchase your electricity for the next 40+ years at a low affordable cost, avoiding unexpected and unknown utility price hikes. Once paid off, your electric bill could be nearly eliminated.
Modern commercial installations are warranted for 25 years of power created by the sun. Reasonable lifespan expectancies on quality systems are more than 40 years.
With financing packages that cover 100% of the cost of your solar investment, there’s never been an easier time to go solar.
At US SolarWorks we guide you through every step of the process to make the best possible investment for your business.