Rising food prices, increasing interest rates, and climbing utility bills — sound familiar? You’re not alone. Many people are feeling the pinch, as growing costs strain monthly budgets.
One concern is electricity bills, which increased by $5 a month in 2021, with an average cost of $122 a month or $1,464 a year, according to the U.S. Energy Information Administration.
“Higher retail electricity prices largely reflect an increase in wholesale power prices driven by rising natural gas prices,” according to the Energy Information Administration.
Additionally, non-renewable resources that traditionally power homes, such as petroleum and coal, are diminishing and are major contributors to pollution and climate change. These factors mean that electricity costs will continue to rise.
So, what can you do to stem the tide of inflation? You can toss your electricity bill to the wind by installing a home solar system.
“Solar power is energy converted from the sun to thermal or electrical energy,” according to World Population Review. “It is clean, renewable, and inexpensive, and is available anywhere in the world.”
Electricity costs
With solar panels powering your home, you will lower your utility costs and your reliance on public electricity. In fact, depending on how much electricity you generate and how much you use, you may not have to pay an electric bill at all.
Fortunately, you’re in the right place to generate plenty of power, as Arizona is the sunniest state in the nation, according to data analysis site Stacker. In fact, it has had an increase in sunlight of more than 12% since 1992.
“The top three sunniest states in the U.S. have large desert landscapes, so lots of sunshine should come as no surprise,” according to World Population Review. “The absence of water and moisture makes it difficult for clouds and rain to develop, resulting in very dry conditions and lots of sun.”
All that sunshine saves Arizona residents with solar panels an average of $1,057 every year, according to Energy Sage.
You’ll also be less affected by problems with the utility grid because, if your house produces more energy than you use, it can be saved for use at night, on cloudy days, and during power outages.
Value now and later
Solar panel systems will increase your home’s value if you choose to sell in the future. As for the present, you could get money back from the government when you file your taxes.
“In addition to federal tax credits, there are also state incentives that can reduce the financial burden of going solar in some cases,” according to local installer Fox Valley Electric and Solar.
For the optimal savings and benefits of solar, there are some important things to consider:
- The system must be properly sized and placed to achieve ideal performance.
- Some utility providers and rate plans may require integrated programmable storage to optimize savings.
- Storage can be helpful to keep power during a utility outage.
- Installers should be trained electricians.
Learn more about how you can save energy and money with a solar panel system by visiting Fox Valley Electric and Solar and scheduling a free estimate.
“We keep our commitment to you by sending our trained, certified and insured technicians to your home who will do the job right the first time,” according to the company. “Our background checked technicians have the skills, knowledge, and tools for all your solar installation needs.”
