Changes in federal policy and market forces are accelerating the increase in your monthly electric bill. This grid-tied utility expense is likely one of the largest portions of your business operating costs. Why is this happening?
We already knew demand for electricity was increasing nationwide, and this trend is accelerating with the rise of data centers, artificial intelligence and more electrification. Grid-tied electricity is about 40% dependent on natural gas, which is sharply increasing in cost, while anticipated new nuclear technology costs this nation a premium on a long timetable to build, and fossil fuels remain costly. Renewables like solar, your lowest-cost choice to create electricity, are a small percentage of resources feeding the grid. Predicted higher electricity costs come from multiple sources, including the Energy Information Administration, Energy Innovation, Resources for the Future, Tableau Public, Berkeley Lab, and Deloitte, which predicts wholesale electricity prices will rise 19% by 2028.
How can you take back control of your growing electric bill to better manage your bottom line when policy and market forces are making it harder to stay in business? Stabilize and predict the cost of energy you can produce on site. This is called distributed generation, and it is possible with a solar photovoltaic system you own and operate on excess space you already have on your rooftop. You can start lowering your bill today, while stabilizing your cost of energy, building equity in a renewable energy future and getting a conservative return on your PV system that actively saves you money.
If your business is in a rural area or is a farm business, you may be eligible for grant support for a future renewable energy system. More details here about the latest application window opening October 1 for Rural Energy for America program grants.
Anne Brock is marketing coordinator for Solar Alliance, which designs solar projects for manufacturers, offices, small businesses, farms and nonprofits. She’s at abrock@solaralliance.com or 865-221-8349.
