This is probably just the beginning of an upward trend in electric rates as utilities face more environmental restrictions on fossil fuel-fired power plants
Washington, DC (Vocus) February 3, 2010
The dramatic increase in PPL electricity rates that kicked in on January 1, 2010 will make investments in renewable energy solutions more appealing and cost-effective than ever, according to Greenspring Energy, a solar electric Pennsylvania systems provider. As of January 1, 2010, PPL uncapped its artificially low electricity rates, causing electric bills to rise by almost 30% - about $400 for the average Pennsylvania home. All this comes at a time when many Pennsylvanians are out of work and struggling to make ends meet.
However, the dramatic rate increase makes reducing energy consumption via solar electric technologies and other energy-saving measures more financially rewarding than ever – with return on Investment coming even faster. Greenspring Energy estimates that solar electric and solar hot water Pennsylvania systems can pay for themselves in as little as three to seven 3-7 years and provide significant protection from PPL rate increases that are likely to continue.
“This is probably just the beginning of an upward trend in electric rates as utilities face more environmental restrictions on fossil fuel-fired power plants,” says Paul Wittemann, President at Greenspring Energy.” The more consumers can reduce their energy usage and utilize readily available energy sources, such as solar,, the better off they’ll be from a rate-paying and environmental perspective. The cost benefits are even stronger with these higher uncapped rates.”
Especially in Pennsylvania, consumers have multiple economic incentives to invest in renewable technologies such as solar electric and hot water. The Pennsylvania Sunshine Solar Program provides incentives of up to 35% of the total cost of certain solar electric and solar hot water Pennsylvania installations and can be combined with Federal grants for overall rebates of as much as 65%. Those incentives, combined with the sharp PPL rate increases of 2010, make investments in energy-saving technologies and systems more compelling than ever for the average home- or business-owner.
“These rate increases – coming at a time of economic crisis and high unemployment – are going to be very hard to absorb for many individuals,” adds Paul Wittemann “They will drive many consumers to cut their energy usage in every way possible, and to protect themselves from future increases by turning to renewable sources of electric power.”
Already, the company is seeing an increase in requests for energy audits and solar site analyzes as homeowners look for immediate ways to reduce their electric bills. “Whether by installing energy-efficient technologies, switching electricity providers or simply insulating, these PPL rate increases give Pennsylvania electricity consumers real financial motivation to make changes,” concludes Wittemann. “The changes are a good idea in the long run, but this is certainly a painful time for it to happen.”
About Greenspring Energy:
Greenspring Energy LLC is focused on helping homeowners and businesses reduce their energy costs through a full line of solar energy systems and innovative energy saving products and services. The company performs objective professional energy audits and site surveys and installs residential and commercial solar energy systems.http://www.greenspringenergy.com.
Greenspring Energy was founded in 2007 to permanently and cost- effectively combine solar energy systems and energy saving products and services. Greenspring Energy covers a large portion of the Mid-Atlantic region with sales, installations, and service.