Our Charlotte-area clients often ask, “How much are electricity prices going up in North and South Carolina in 2022?” Everyone notices the increasing cost of gas, groceries, and virtually everything else. What will happen with our power bills, which are regulated by the state and do not fluctuate daily like the cost of gas? It has many customers wondering if they should go solar.
Examining the Cost of Electricity
As of June 15, 2022, the average cost of electricity in North Carolina is 0.12 kWh. In South Carolina, it is 0.13 kWh. What does this mean for the average consumer in the Carolinas? Electricity is cheap! The national average is 0.15 kWh, with some states exceeding 0.20 kWh. One important thing to note is that in those states with the highest electricity rates, residential rooftop solar is much more common. Why? Because it is a lot cheaper than buying it from the grid.
Here in the Carolinas, with our cheap electricity, the deal isn’t quite as good… yet. For more information about the average cost of electricity in your state, visit the excellent EnergySage website, with tons of great informational content about solar, here.
The Future of Electricity Prices
So, what happens next? One thing seems clear; America has an inflation problem. Without knowing exactly what will happen with inflation over the next few years, we do know that electricity prices in the Carolinas are set to make a big jump in 2022. There are some reports that it could increase by as much as ten percent. And this isn’t just in the Carolinas. It’s happening all over the country. In New Hampshire, for instance, there are reports that some customers will see their power bills double this summer.
Unfortunately, it gets worse. While the cost of electricity in the Carolinas is currently “cheap,” we use a lot more electricity than the national average because of our hot and humid weather. This means that, when all is said and done, residents in North and South Carolina are much closer to the national average in terms of total cost. On average, electricity users in North Carolina spend about $149 per month on electricity. So, when electricity rates do go up, it’s going to be painful, just like filling the car up with gas these days.
Solar Could Be the Perfect Solution
Now, for the good news. Investing in solar now means you have locked in your cost of electricity (from the solar system), for the next 25 years! When you invest in a rooftop solar system, you know that no amount of inflation, or anything else, is going to increase the cost of your energy.
You will be your own power producer, and while your neighbors complain about $500 electricity bills during a hot Carolina summer, your solar system will be producing clean power and saving you dollars. It’s fun to watch how much energy your system produces and how much money you’re saving right from the system monitoring app, like the Enphase MyEnlighten platform.
And, while your solar system is saving you money, it can also protect you from blackouts! By adding a battery to your system, you will be in a position to protect yourself against rising energy costs and blackouts. (Should you be concerned about blackouts? You can learn more about their growing potential–from storms or otherwise–here.) That’s why many of our customers are choosing to go EV + solar + battery. With an electric vehicle, a solar system, and a backup battery, your family will be ready to weather any storm, from inflation to summer blackouts.
Go Solar Today!
Are you interested in learning more about the solar options that are available to you? Give us a call or contact us here to discuss how to go solar so you can start saving on your monthly electricity costs.