When it comes to owning a home, no one is excited to pay their bills. And you may have asked yourself a time or two, why is my electric bill so high?  

In January 2024, PG&E bills hit a record high with the latest rate increase request, now exceeding $400 for the average monthly bill.  

In the past year alone, PG&E bills have skyrocketed by more than 32%, confirming PG&E as the most expensive utility provider in the continental United States.

You might hardly get used to the new rate hike before the new ones land, as the most recent rate hike approved last month has bumped up monthly bills by an additional 7.2%.

Unfortunately, the challenges for ratepayers do not stop there. Be prepared for further increases in your electricity bills in 2024, as PG&E has already put forth a pending request to raise monthly rates by an additional $14/month for the average bill. 

To put this into perspective, PG&E's rate hikes are currently soaring at a rate nine times faster than the overall inflation.    

But why are PG&E bills so high right now, and what can you do to reduce your bill? 

In this blog post, we’ll explore:

• The reasons for PG&E's rate hikes
  
• The current and future challenges for consumers and businesses
• PG&E alternative strategies to help you save on your electric bill

Why your PG&E Bill Increased

PG&E does not seem eager to broadcast their rate increases. Surprisingly, PG&E revealed a staggering increase in profits for 2023, soaring to over $2.2 billion, marking a nearly 25% jump in earnings...

At Citadel, we strongly believe that consumers should have complete transparency regarding their energy consumption and expenses. 

Challenges Faced by Homeowners and Businesses 

The continuous surge in PG&E bills is starting to affect customers of all income levels.  

This ongoing rise in utility costs is forcing people to make tough decisions, such as cutting back on essentials like food, creating a challenging financial landscape for many. 

Businesses are also feeling the strain, with reports stating that some are running their operations without access to heating or air conditioning.

In response to the rising power expenses, businesses have been forced to increase their prices even further over the course of the past year. The growing burden of PG&E rate increases is pushing many residents and businesses to seek alternative solutions to secure their energy future.  

How can I Lower my Electricity Bill?  

There are a variety of strategies to lower your monthly PG&E bill, such as making lifestyle adjustments, enrolling in financial assistance programs, and more. You can read more about ways to save on your electricity bill in our blog post "A timeline of PG&E's rate increases."

And, for significant savings on your energy expenses, consider investing in solar panels and solar batteries/energy storage.

Collaborating with a professional solar installer to install photovoltaic panels on your rooftop together with a solar battery can help you generate your own electricity. 

Benefits of Solar + Battery 

Installing a solar panel system equipped with battery backup allows you to generate your electricity and store the excess to power your home during peak energy use hours, at night, or on cloudy or stormy days.  Installing solar panels coupled with battery backup storage systems presents an ideal solution for homeowners seeking to maximize savings, especially within states such as California operating under current net metering regulations.

By harnessing solar power during the day and storing excess energy in batteries for use during peak demand periods or at night, homeowners can significantly reduce their reliance on the grid, resulting in lower electricity bills. This innovative system not only allows homeowners to take advantage of solar energy generation but also helps offset the impact of fluctuating utility rates.

By storing surplus energy and using it when needed, homeowners can optimize their energy usage patterns, leading to increased overall savings in the long term. The result is meaningful energy savings for you and your household, and no more stress over when the next PG&E rate increase hits. 

By tapping into the power of solar energy and utilizing battery storage, homeowners can attain:

1) Independence from rising PG&E bills

By relying on your solar panels to meet a large portion of your electricity needs, your household gains a shield against PG&E's relentless rate hikes. This leads to more stable overall energy expenses.

For instance, if you opt for a 10-year loan to finance a solar energy system that covers 80% of your yearly electricity usage, the cost of that 80% remains constant throughout the entire decade. This stability protects you from inflation, PG&E's fluctuations, and global influences that drive up the prices of fossil fuels (which power most of the U.S. electricity grid).

2) Cost Savings

Investing in solar panels and energy storage requires an initial cost, whether through a cash purchase or a loan. However, a well-designed solar energy system has the potential to greatly reduce your PG&E bill, leading to substantial savings.

Furthermore, investing in solar panels offers the added benefit of potentially increasing the value of your property when you decide to sell. Studies have shown that solar installations have a positive impact on property values in California, allowing you to recoup a significant portion, if not all, of your initial solar investment.

3) Contribute to a Greener Future

A significant portion of PG&E's energy production relies on burning fossil fuels, resulting in the release of carbon emissions that contribute to environmental harm.  Moreover, by reducing dependence on traditional grid infrastructure, solar panels together with solar batteries contribute to a more sustainable and resilient energy future for both homeowners and communities alike.

In contrast, solar power offers a much cleaner solution. By harnessing the sunlight that falls on your rooftop each day, a solar system can generate electricity without producing greenhouse gases or other pollutants. This eco-friendly alternative not only reduces your carbon footprint but also promotes a sustainable energy future for you and your family.

Choosing a Trusted Solar and Battery Installer 

In the ever-evolving landscape of solar regulations in California, it is crucial to partner with a knowledgeable solar team that values transparent communication about your options. 

At Citadel, we take pride in being your trusted advisor, just as we have been for fellow Californians for over 30 years.  

Our team is dedicated to helping you discover the most advantageous solution tailored to your needs, whether it involves solar panels, solar batteries, or even a new roofing system. 

Taking Action: Securing Your Energy Future 

By investing in solar power and battery storage, homeowners and businesses can proactively combat the impact of rising utility costs and gain energy resilience.  We hope this blog provides insightful statistics and strategies to take control of your finances and energy journey for a sustainable future. 

Instead of waiting for the next rate hike, contact us to learn more about how Solar + Battery can protect your energy future. 

Request a free solar and battery backup estimate now: