December 4, 2022

Energy Prices Are On The Rise Across The U.S.

Solar Energy

Across the U.S., energy prices are on the rise. From oil to natural gas to coal, the fuel we use to generate electricity, heat our homes and power our automobiles is going up with no end in sight. The result is that you, as a customer, will be paying more for these services than usual and that change could be permanent.

According to an article by Axios, Americans are now paying and average of $3.30 per gallon of gasoline, a dollar higher than a year ago and a seven-year high. In addition, The New York Times is reporting that natural gas prices are up over 150% over the same time last year, pushing up the price you will pay to heat your home this coming winter. Although not as pronounced in the U.S. as it is in Europe and China, energy prices are hitting Americans’ pocketbooks.

So, what’s behind this surge in prices? A big part of it is the result of the pandemic and its effects on supply and demand. The pandemic has also created a lot of uncertainty in the market making suppliers hesitant to increase supplies for fear they will bottom out again as they did when the pandemic first hit. Also, bottlenecks in the global supply chain are causing shortages in goods and services and causing inflation. In addition, according to articles in Fox Business News and Forbes, the meager investment returns of energy suppliers are creating even more market uncertainty.  These factors combined create the perfect storm for rising energy prices and some experts are predicting that they may not return to normal for a while.

So, what can you do to help mitigate these price increases? If you haven’t already, consider installing a solar panel system for your home or business. This is the best way to escape the volatile “boom and bust” disruptions of the energy industry. In addition, there are many other great benefits to owning a solar panels system and plenty of incentives to help you pay for it. Take a look at what Shine Solar has to offer.

Table of Contents:

Federal Income Tax Credit for Solar Panel Installation

Right now, the federal government is offering a 26% federal income tax credit for you to install a solar panel system on your home or business. This means you can deduct 26% of the total cost of purchase and installation off your federal income tax. For most Shine customers, this averages between $6,000-$7,000, which is money you can use to help offset the cost of your solar panel system.

Zero Down, Zero Payments and Zero Interest for 12 Months

In addition to the 26% federal tax credit, Shine makes it easier than ever to install solar on your home by offering zero down, zero payments and zero interest financing for the first 12 months you own your system. This allows you to enjoy the benefits of owning your own power right away without having to worry about a loan payment. Use the savings to take a vacation, make home repairs, or use it to help further offset the cost of your solar panel system.  

Solar Panels Add Value To Your Home

solar panels rising energy prices
Residential Solar Panel Installation | Shine Solar

Did you know that adding a solar panel system actually increases the value of your home? According to a recent study by Zillow, homes with solar panels sell for 3%-4% more than those without. That’s because homebuyers value the low utility bills and energy efficiency that comes with owing a home solar system. In fact, a 2020 survey conducted by the National Association of Realtors showed that, “69% of REALTORS® said energy efficiency promotion in listings was very or somewhat valuable, and 77% said a home’s utility bills and operation costs were either very or somewhat important to clients.”  

So, not only will a home solar panel system virtually eliminate your electric bill, it’s also a good investment.

Shine Home

At Shine, we take a whole home approach to energy efficiency. That’s why in addition to solar panel installation, we also offer our customers home energy efficiency upgrades. We call this our Shine Home program and it’s all about saving you money and making you more comfortable.

Unfortunately, most homes in the U.S., even new homes, only contain the minimum amount of insulation that building codes require. This, combined with air leaks in your roofline and other places, create a giant vacuum that sucks much of the conditioned air out of your home.

By adding the right amount of insulation and properly air sealing, it can eliminate the air leaks in your attic and greatly reduce your home’s energy requirements year-round all while making you more comfortable.

Shine Air

As a complement to our other energy services, Shine Air also provides professional installation, repair, and service of energy-efficient HVAC systems. This is the perfect complement to the energy efficiency upgrades provided by our Shine Home program because heating and cooling makes up the biggest part of your home’s energy use. In fact, installing an energy efficient HVAC system can lower your utility bills by 30%-40%.

Backup Home Battery Systems

Shine offers many different battery systems for use as a backup power source. Whether you want several batteries to operate major appliances or just one to provide only essential power during a blackout, Shine has you covered.

Total Solar Savings and Energy Independence

So, if you are interested in avoiding the fluctuation of energy prices by installing solar energy, let us know! Find out how you can become energy independent while increasing the comfort of your home, all for one affordable price. Call us today at 844-80-SHINE or visit our website at Shine Solar.

For more information regarding the current energy crunch, check out these online news articles:

Time Magazine: Gas Prices and Energy Bills Are Going Up

CNN Business: Energy Costs Rise Amid Global Crunch

Fox News: What’s Causing Energy Prices To Spike?

Reuters: Oil remains near multi-year highs as energy crunch persists

Associated Press: Energy crunch hits global recovery as winter approaches

New York Times: Energy Prices Spike as Producers Worry Over Pandemic and Climate

Washington Post: An energy crisis is gripping the world, with potentially grave consequences

BBC: BP profits rise amid soaring energy prices

The Guardian: Energy crisis reignites demand for oil, threatening climate targets, says IEA

CNBC: Consumer prices rise more than expected as energy costs surge

Bloomberg: Oil Hits $85 a Barrel With Global Energy Costs Soaring

Forbes: Energy Crisis 2021: How Bad Is It, And How Long Will It Last?

ABC News: Energy crunch hits global recovery as winter approaches

NBC News: Spiking energy prices mean more than just pain at the pump

CBS News: Spike in fuel prices could lead to an energy crisis this winter, expert warns

Is solar a good fit for your home?

Find out now!

If you are considering going solar, the first step is to get a solar savings report to determine if solar is right for you and your home. Click the button below to get your solar savings report now!

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Nick Gorden

Nick Gorden is the Co-founder and CEO of Shine Solar. Nick’s energy, enthusiasm, and leadership is contagious and has contributed to attracting a talented and successful executive team. His time is focused on strategic growth, maintaining profitability and creating the optimal customer experience. Nick has started, managed and sold companies within the communications, mortgage lending, insurance and real estate industries resulting in tens of millions of dollars of market value to investors.

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