California's electricity rates have historically increased by 6.7% per annum. Despite continued subsidies, electricity prices are soaring all over the world due to rising fuel prices, new environmental costs, upgrading of old and failing infrastructure, and broader inflation.
Experts believe electricity prices in California, as well as abroad, will only rise more to meet these escalating costs.
The US is running out of domestic sources of oil and gas, which will lead to escalating fuel prices and stretched importing infrastructure. The International Energy Agency, or IEA – the conservative world authority on energy - believes the world is facing an oil crunch within five years.
Any of these factors alone could mean a crunch in supply and a sharp increase in prices in the near future, which could significantly impact your household budget. Taken together, however, they represent a real risk that utility prices may increase at a greater rate than the historical rate of 6.7%.
While nobody can predict the future, a conservative assumption is to assume the historic rate of inflation in California when considering an investment in solar. We give you - our customer - the tool to determine that rate and see its impact on your investment. Enter your address above and learn how much you can save with a home solar system from Sungevity.