According to an article in Crain’s Detroit, DTE submitted a rate increase of 9.1% for residential customers and 4.3% for commercial customers. Industry professionals anticipate other electric companies in Michigan to follow suit. Coupled with the change from Net Metering to Distributive Generation, if you ever thought about going solar, now is the time to act.
What if I don’t make a change?
If you continue to get all of your electricity from the utility company, you will continue to pay them for 100% of your electricity. Every time there is a rate or fee increase, you will pay every cent, for the rest of your life. Next year it could be just as high. All the new electricity generation facilities are powered by natural gas (NG). NG is at a 14 year low because of excess supply. FedEx, UPS, the USPS and others are starting to use NG to power their fleets. Utility companies are starting to use it to generate all new power. The U.S. is starting to export excess NG to foreign countries. When NG goes back up to its historical norm, our rates will skyrocket. Remember, prices on everything else keep going up as well. Retirees with a fixed income will be hit the hardest. Do you have a plan to cope with these increases?
Make your own electricity!
Electricity has become so expensive and solar equipment prices have dropped so low, that it makes more sense than ever for you to buy your own electricity generating equipment, i.e. solar. How much solar equipment do you need? It depends on how much electricity you want to make. But the bottom line is that it is now cheaper to make your own electricity. There are new finance tools available that let you afford the equipment with payments that are approximately the same as your current monthly electric bill, with no down payment. Once you pay off the equipment, you generate your own electricity and save all those dollars you would have given to the electric company, annual increases and all. There is no maintenance on solar and the panels will continue to produce for an estimated 35 years or more.
Summary of Benefits of Going Solar NOW
- Make your own electricity
- Stops paying higher and higher bills from the electric company
- Qualify for a 30% federal tax credit
- Grandfathered in for ten (10) years on Net Metering
- Save tens of thousands of dollars over the life of the solar equipment (35 years or more)
- Option for electric car charger or emergency backup batteries
Written by Troy Bracke November 2018
Troy is a solar professional with Michigan Solar Solutions in Riverdale, MI