Many Americans are finding themselves struggling to stay afloat financially in the wake of the recent pandemic, and now, with the ongoing conflict in Ukraine, gasoline, energy, vehicle and food prices have all increased significantly within the last year.
While the current disruptions to the supply chain and after effects of the pandemic won’t last indefinitely, there’s no guarantee that prices will return to something resembling normal, anytime soon. It may seem as if there’s nothing any of us can do to counteract the effects of inflation, but you might be surprised to learn that investing in alternative forms of energy, such as solar, could help you battle against rising utility rate inflation.
Solar energy and its role in battling inflation
While most American citizens recognize that having solar panels installed can significantly reduce their monthly energy bills – and in some instances, eliminate them altogether – it’s perhaps more important to recognize that it’s a sound hedge against the rising rate of utilities inflation.
With a professionally installed solar panel system lasting for as long as thirty years, a homeowner with panels on their roof need not be concerned with utility rate inflation for many, many years to come.
If you’ve got an electrical vehicle, being able to charge your car from your own solar power supply means that rising gas prices won’t affect you either!
Other advantages of switching to solar
While inflation and electricity bills need no longer be of concern to home and business owners with solar systems installed, there are also two additional benefits: tax incentives and net metering.
Taxpayers can claim a Federal Income Tax Credit (FITC) of 26 percent for qualified expenditures on a solar energy system that provides electricity to their home (provided they own and live in it). Extending through 2022, it’s scheduled to drop to 22 percent in 2023, and expire at the end of that year.
Net metering laws are a real plus for solar energy customers living in certain states. For solar panels connected to a public utility power grid, surplus power generated is transferred to the grid, allowing customers to offset the cost of power drawn from the utility.
So, if utility inflation increases are making your life hell, why not talk to a local provider about the possibility of having a solar system installed at your home? Your investment will give you a decrease in your electricity bills for the entire lifespan of your system (which is up to thirty years, and could even see you eliminate your bills altogether), and make inflation rises a thing of the past. Treat yourself to energy freedom and have a solar panel system installed today!
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