Why Solar Energy is Important to New Jersey [SPONSORED]
In 2013, it is essential to understand just how important solar energy is for our future, our environment and especially for our pockets. Getting the facts about increased electric rates and how these costs particularly affect New Jersey is a great start to understanding the significance of solar energy. We've partnered with Trinity Solar to show how important solar energy is to New Jersey.
Utility Rates are Increasing
There are several factors that affect the cost of electricity. Location along with state and federal environmental regulations all directly impact the price that customers pay for their electricity.
As federal and state environmental laws have become tougher, more power plants are being shut down. As a result, the operator of the nation’s largest power grid is authorizing more than $2.4 billion in new transmission projects, including many in New Jersey. According to njspotlight.com, these upgrades could "modestly increase electric bills for consumers, who already pay some of the highest energy bills in the nation."
Residents of New Jersey are generally hit with a higher cost of living compared to other US states. Not only do we have higher electric rates than the national average, but the rates in New Jersey are also increasing at a more rapid pace.
In 1990, the US average cost was $0.0783/kwh residential rate and in 2010, the rates increased by 47% to $0.1154/kwh residential rate.
In New Jersey, rates in 1990 were at $0.1036/kwh per residential rate and they hiked to $0.1657/kwh per residential rate in the year 2010. That’s a 60% increase over 20 years!
Plus, rates will increase more than usual due to storms like Super Storm Sandy and Hurricane Irene. The reason for this increase is that utility companies need a way to pay for damage sustained as well as upgrades to the grid to continue being able to service such a densely populated area with high energy demands.
Benefits of Solar Energy
Not only does solar energy save you from rising utility rates, but with a solar system at your home or business, you generate your own energy, thus saving you from the cost of every kilowatt hour of electricity your system generates.
Solar energy is clean and renewable. Choosing to "go solar" is smart and environmentally responsible!
Getting started is more simple than you may think. There are flexible options for transitioning to solar energy for your home - all of which reduce energy costs and protect you from rising utility costs.
For little to NO money out of pocket, you can have solar panels installed and
rather than pay for energy from the utility company, you purchase energy from
your solar panels. With today’s rate, there's no worry about rate increases. Plus, solar offers the option to lock in a lower rate for the next 20 years! Learn more about the Financial Benefits of Solar Energy.
Thanks to our partners Trinity Solar on this content.