Time to Read: 3 minutes
Date: February 24, 2023
Electricity bills have been a primary point of concern for Texans over the last few years. It seems like every year it gets a little more expensive, and Texas isn’t immune to inflation. During the seasonal peaks when it’s blisteringly hot or mercilessly cold, electricity bills make a massive jump. But one big thing that could put things into perspective is to look at just how much the price for electricity changed over the last year or two. In this article, we’ll take a look at some of the changes in electricity prices in 2022.
How Much Did the Price for Electricity Increase Last Year?
The short answer? Much more, especially compared to previous years. On average, customers ended up paying 14.3% more for their electricity than they did in 2021. For perspective, that’s more than twice the rise in prices according to the U.S. Bureau of Labor Statistics.
To make matters worse, the price of electricity is expected to be bigger this year. Experts from the National Energy Assistance Directors’ Association predict that the cost to heat homes using electricity will be 10.2% higher than it was in 2022.
What can you do About it?
There are a few things that you can do if you are paying more for electricity over a larger span of time.
- You can check out your electric bill to see how much you’ve been paying for electricity along with how much you’ve been using. You may consider switching your lights to more energy efficient bulbs or even unplug or turn off certain things in your house that you aren’t using. This may not eliminate a large portion of your electrical usage, but it can help you out in the long run.
- Ask your utility provider if they offer averaged or budget billing. These billing programs allow you to pay an averaged amount every month. This helps you pay a consistent price for your power, meaning that you won’t be surprised by sudden price spikes on your bill. These plans tend to vary between utility companies.
- You can install a solar power system. Switching to solar power with backup batteries can help you reduce your electric bill. This includes periods of time when there are seasonal price spikes or increases during severe storms! Some of our customers have saved hundreds of dollars on a single bill!
IES Texas Solar Can Help
No matter how electricity prices fluctuate, IES Texas Solar has the energy solutions to help! By installing a solar power system with backup batteries, you can reduce your electricity bills! You also never need to worry about power outages whenever you install backup batteries and a generac home standby generator for the perfect “bulletproof system”. When you make the switch to solar, you can also take advantage of several things that will also help ease the burden of electric bills. Net metering and averaged billing programs can help keep more money in your pocket while managing your finances. Additionally, the tax incentives you get from the IRA bill let you claim a huge deduction from your taxes!
We have made it our mission to be a source of truth in renewable energy. Our team believes that accurate solar and backup power education is the foundation for making the best decision when choosing a system that fits your needs. If you are considering installing a backup generator or switching to solar for your home or business, reach out to us by going to our website, iestxsolar.com, or by giving us a call at (855) 447-6527.
If you are considering installing a backup generator or switching to solar for your home or business, reach out to us by going to our website, iestxsolar.com, or by giving us a call at (855) 447-6527.
Sources:
https://www.bls.gov/opub/ted/2022/consumer-prices-up-9-1-percent-over-the-year-ended-june-2022-largest-increase-in-40-years.htm#:~:text=Consumer%20prices%20up%209.1%20percent,U.S.%20Bureau%20of%20Labor%20Statistics&text=The%20.,gov%20means%20it’s%20official.
