The utility company is already petitioning the California Public Utilities Commission to allow it to shift expenses away from high-end users to low-use customers.
But an SDG&E rate increase in 2014 is hardly the beginning.
Last year, the electricity company increased its prices by 40% for many of its users. And who knows what 2015 and beyond will bring? But if history is any guide, utility rates will keep going up as global oil reserves continue to dwindle.
But you know who isn’t really concerned about all of these electricity price hikes?
Anyone and everyone who has already installed solar panels on their property.
Why an SDG&E Rate Increase in 2014 Means So Little to Solar Customers
When you install solar photovoltaic (PV) panels on your rooftop, you instantly and immediately reduce your reliance on the local utility grid.
- Some customers are able to reduce their monthly electricity bills to $0.
- Others actually receive negative electricity bills (it’s true).
It’s impossible to describe this feeling of liberation. Being able to opt out of a system that harms the planet and drains your bank account.
But probably the best part – the total indifference you feel every time utility rates go up. Solar customers simply don’t care. These price hikes don’t affect them.
Actually. That’s not entirely true.
As electricity prices continue to skyrocket, the payback period of your solar installation becomes shorter and shorter. Think about it like this:
- Before installing solar panels on your rooftop, your monthly electricity bill is $200.
- You install enough solar capacity to reduce your monthly electricity bill to $0 (this isn’t simply possible, it happens all the time – largely thanks to San Diego’s net metering program).
- You now enjoy monthly savings of $200.
- When the price of grid utility jumps up 24%, your solar panels protect you from that price hike. You now enjoy monthly savings of $248 (instead of $200).
- Because you’re saving even more money every month, you’re able to recoup your solar installation costs that much sooner.
This is why many solar installers throughout San Diego (including Sunline Energy) actually applaud these price hikes. They make our job easier:
- Those who have already gone solar are extremely happy they did
- Those who haven’t gone solar yet begin exploring their options
If you fall into this latter group, we’re here to help you get started. Simply request your free Sunline Energy solar quote today, and we’ll walk you through the entire installation process – from start to finish.