Electricity prices are going up, and up, and up!
The chart shows PG&E’s actual rates since 2008. Since 2015 PG&E has increased rates by 4.3% per year. This means that in only 10 years your PG&E bill will go up over 60% — an increase of $1000 a year or more for most Rossmoor residents.
This trend is only going to be made worse as PG&E tries to recover from its recent bankruptcy and has to pay off all its wildfire liabilities.
Going solar insulates you from PG&E’s rate increases
Having your own solar means that on sunny days, you are actually selling power to PG&E. Because of California law, PG&E is obligated to buy that power from you at the same price as they sell power to you. At nights and on cloudy days the situation is reversed; you are buying power from PG&E. Over the course of a calendar year you will sell about the same amount of power to PG&E as you buy from PG&E, so your net annual cost will be close to $0. This is called Net Energy Metering. This means it doesn’t matter how much PG&E increases the price of electricity — the increased price you pay them will be balanced by the increased price they have to pay you.
You receive a 26% Federal Income Tax Credit
If you install a solar system in 2021, you will get a Federal tax credit equal to 26% of the total cost of the system — saving about you about $2500-$2500 on a typical system
Lock in the most favorable tariff
As described in detail in this article in the Rossmoor News the favorable rates you receive for selling your excess solar power to PG&E will be changed late this year. If you install your system before September 2021 you will lock in this very favorable tariff that enables you to pay for your system in 6 or 7 years.
Going solar not only saves you money, it helps save the planet
Going solar means not just that you are using clean energy, but that you are bringing California closer to a completely renewable, emissions-free future. Your solar panels mean we are one step closer to retiring yet another fossil-fuel burning plant.
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