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.