There is a lot of uncertainty that comes along with PG&E filling for Chapter 11, again. Homeowners are wondering how this may affect them in regards to going solar.
Though we can not be certain, we can learn from the past.
On April 6 2001, PG&E filed for Chapter 11, which translated into increased rates for PG&E customers. For three years, PG&E was under U.S. Bankruptcy Court protection. The rehabilitation cost PG&E’s 4.8 million electricity customers $6.2 billion to $8.2 billion in above-market prices through 2012! A cost of about $1,300 to $1,700 per customer!
Thus, we can presume that PG&E’s most recent fallout is likely to add to power bills for years to come.
Serval analysts including James Kelly, former SVP of SoCal Edison voice the same message: “All of what is going on with PG&E is almost inevitably going to raise the cost of power from PG&E to it’s customers, which means solar becomes a more attractive economic deal for those customers.”
When utility costs rise, the value of self generating power will increase. The sooner homeowners go solar, the sooner homeowners can reap the benefits.
Unnervingly, there is also talk about a potential interruption in PG&E’s non-essential services such as Net Metering services; which would prolong any new requests for solar interconnection.
Conclusion: Now is a crucial time to go solar.
There is no reason to wait. Rates will increase and PG&E cannot insure grid stability. Plus, the 30% Federal Tax Credit phases out this year. Which means, this is the last year you can get back 30% of the cost of your solar system.
Green Stock Solar can help you get the ball rolling today, to help you ensure the lowest rates.
Get ahead! Invest in your future today.