EIA | Suntility Electric LLC

Electricity Rates Are Rising Sharply This Year, Further Highlighting The Value Of Solar

Following the sharp rise in natural gas prices in 2021, electricity supply rates have climbed markedly entering 2022. Eversource’s residential electricity ‘supply’ rates, also known as ‘Basic Service’, or ‘generation’ rates, increased from $0.10753 at the end of December ’21 to $0.15764 at the beginning of January ’22. That represents a 47% increase. National Grid’s residential electricity ‘supply’ rates, also known as ‘Basic Service’, or ‘generation’ rates, increased from $0.09707 at the end of October ’21 to $0.14821 at the beginning of November ’21. This equals an increase of 53%. Higher rates from Eversource and National Grid, highlight the value of solar in both the higher producing warmer months and in winter.

A Natural Gas (Methane) Stove

Strong international demand for natural gas, and continued retirements of coal and nuclear power plants, have increased many regions reliance on the methane fuel. At the same time wind and solar capacity continues to lead new additions to the grid in the United States. For example, the Energy Information Administration (EIA) forecasts that 63% of all utility-scale electric generating capacity additions in 2022 will be solar (46%) and wind (17%).

In this environment, consistent solar production only becomes more important, and more valuable. To learn more about how Suntility can work with you to optimize your clean energy facility contact Suntility through the website or by phone at 508-538-4Sun.

Suntility is your trusted partner in success. Suntility provides renewable energy maintenance services, net metering credit services, owner’s agent services and consulting solutions to optimize facility reliability, performance and value.

Clean Energy Is Increasingly Central To The Nation’s Energy Mix

Once dubbed as alternative energy, solar and wind have truly gone mainstream, and are now central and growing pieces of the energy mix. 2020 only accelerated that shift. According to new data from the U.S. Energy Information Administration (EIA), U.S. energy consumption in 2020 increased for renewables, and fell for all other energy sources. Renewables share of U.S. energy consumption also meaningfully exceeded coal and nuclear in 2020.

At a time when global temperatures are rising and the effects of climate change are disrupting tens of millions of lives; when the dangers of air pollution are becoming clearer with every new study; and when the oldest and least efficient electric power plants are rapidly retiring; clean energy is more important than ever.

Suntility’s laser focus on helping to ensure the success of clean energy projects is critical. Tailored solutions offered from dedicated monitoring; to net metering credit services; to owner’s agent services; and more; advance clean energy owners’ interests. Suntility clients know that they’re receiving expert support only from clean energy industry veterans that have worked on hundreds of clean energy projects, and have decades of experience managing utility-scale and commercial solar projects.

To learn more about how Suntility can work with you to optimize your clean energy facility contact Suntility through the website or by phone at 508-538-4Sun.