According to figures outlined in a recent general rate case request by Southern California Edison, the utility seeks approval of $2.1 billion – yes, that’s billion – to modernize the grid. The reason: the seismic shift in the market place to distributed energy resources – like rooftop solar. And guess how the utility plans to pay for a large chunk of that investment? Rate increases to customers like you.
On the surface, the percentage hikes might seem relatively insignificant. The application to the California Public Utilities Commission (CPUC) requests a 2.7% increase for 2018, followed by a 2019 boost of 4.2% and 5.2% in 2020.
This Increase Isn’t Peanuts
Make no mistake about it, the dollars involved are HUGE. If the request is granted, the rate hikes over the next three years will produce annual revenue increases of $222M, $533M and $570M. Oh, and if you’re wondering about the likelihood of success, the CPUC has approved anywhere from 81%-92% of revenues requested by Edison in prior rate cases over the past decade.
Is there a better time than now to get off the utility merry go-round and go solar? We can’t think of one.
To be clear, we aren’t here to judge the relative merits of the Edison request. We’ll leave that to the policy experts. A pitched battle is already underway, with solar advocates calling the rate proposal nothing more than gold-plating the grid, while the utility points to the huge investment it has already committed to accommodate the shift to distributed energy.
It’s Your Choice
In the end, here’s what matters: You have a choice. You can continue to dig deeper into your pockets every year to pay utility bills that are outpacing the rate of inflation (as measured by the consumer price index). Or, you can take advantage of financial incentives that substantially lower the cost of converting to solar and lock in savings for years to come.
Take Action Today
SolarMax has enabled thousands of homeowners to make the switch – easily and affordably. In fact, for a limited time, we’re offering a complete solar system with a 10-year power production guarantee for only $69/month. Just Request a Free Consultation and your SolarMax representative will calculate the potential savings you can enjoy by going solar BEFORE any SCE rate increases.
And the best part is that with the excess power you generate and return to the grid, Southern California Edison pays you!