As I debated how to couch the comment that “I don’t need to worry about my electricity in the future”, I wanted to address the reality that our country’s power generation plants are old and face retirement. When things get old, they cost money to repair, renovate or even demolish.The average electric bill for US residents rose from $1,172 to $1,419 from 2009 to 2011 (USA Today). That 17% increase is not expected to decrease; in fact, Duke Energy, one of the largest energy providers in the south has noted that the “rate increase is needed to pay for replacing old power plants and making the transmission system more reliable.” Many coal plants are not meeting federal emissions guidelines, so somebody has to absorb that cost to address what will be an increasing problem. Plants that are relatively “new” (10 years old) will continue to age and need servicing then they reach their expected retirement age of 45-55 years. That means continual costs to keep these energy machines up and running.
The alternative is worth considering when we take time to look at the situation from 10,000 ft. What if you locked in your electric rates and didn’t have to worry about those rate hikes? And, what if that decision positively benefited the environment? Solar is worth considering when you look at the blatent facts surrounding the future of energy.
Give us a call- we’d love to talk more about how you can address those concerns.