We are fortunate in Southern California to be able to have a progressive utility like Southern California Edison serving us. While you may have had your issues with the utility, like people across the country have with theirs at one time or another, there is no disputing the fact that SoCal Edison is an innovative provider that is constantly looking to diversify the means that they generate electricity through renewable and sustainable forms of energy. And they continue to invest millions in smart grid technologies that will benefit everyone in the long term.
The downside, of course, is all of that investment costs a great deal of money, and SoCal Edison is a profit-driven enterprise, obviously. So that cost gets passed down to customers and makes your electricity bill rise.
Next year will be no exception, as rates will rise in 2012. But if you are considering a solar power installation for your home, this could be good news for you. We talk to scores of people on a regular basis about the benefits of turning to solar, and many times we point to ever-increasing electricity costs. These costs tend to rise gradually over time; the current rate increase will, according to how much power you use, raise your bill somewhere between $3 and $10 a month. And SoCal Edison is not alone, as several other utilities will be raising rates as well, including San Diego Gas and Electric and Pacific Gas and Electric. It’s simple economics – as demand for a product goes up, so does its’ price.
When you make an investment in solar power, your monthly electric bills are either reduced significantly or eliminated entirely. As soon as you receive your first bill after your installation, you begin to see return on investment. And one that investment has been paid back, then you will see even more substantial savings. And when rates increase, as they soon will, those savings only get better.