American energy bills have increased 10% since President Donald Trump took office, a new report found.
What's causing higher energy prices?
As The Guardian reported, advocacy group Climate Power shows that household energy prices increased from $0.1595 per kilowatt-hour in January to $0.1747 in May.
Trump and his administration maintain they will bring down energy prices, but others aren't so sure. Another report showed that tariffs, combined with policies that promote fossil fuels while eliminating green-energy programs, could cause prices to soar by $400 a year in many states.
Rising energy demand also plays a role in higher prices. That demand will likely continue to increase because of rising global temperatures and the proliferation of artificial intelligence.
Renewable energy sources such as solar can bring down those monthly bills. By using solar panels to generate and store your own energy, you can reduce your reliance on dirty energy sources while significantly reducing the amount you spend on electricity.
With that said, solar panels can be prohibitively expensive, and purchasing them is not within everyone's budget. Palmetto offers a leasing program known as LightReach that allows homeowners to go solar with little to no upfront costs.
Why are energy prices important?
Simply put, energy bills are one of the biggest expenses each household incurs, and any increase means less money in your pocket.
Certain families are disproportionately impacted by energy costs. The Department of Energy reports that low-income households face an energy burden — the percentage of income spent on energy — that is three times higher than other households'.
Save $10,000 on solar panels — or get them on your roof without paying for purchase or installation Whatever your solar budget, Palmetto can help you save. If you want to buy your own panels, Palmetto's concierge advisors can help you save up to $10,000 on installation through a network of preferred installers. And if you'd rather get solar savings without upfront costs, Palmetto's revolutionary LightReach subscription program can deliver. LightReach lets you lease solar panels with no money down, making it painless to lock in long-term savings. Palmetto covers a 25-year warranty for the panels, which means you'll get reliable performance without unforeseen costs. To get started, just answer a few basic questions about your home and connect with Palmetto's experts to find the option that's right for you. |
"Republicans are fueling an energy crisis and inflicting a massive utility bill hike on Americans across the country," said Climate Power senior adviser Jesse Lee, per The Guardian.
How solar helps with energy prices
Renewable energy can bring energy prices down because they take advantage of free, abundant sources such as the sun and wind. It helps the environment, too, because every time someone uses renewable energy, it cuts the burning of oil, natural gas, or another fossil fuel, which releases toxic heat-trapping gases into the atmosphere.
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Every day 😥 That's why getting solar panels is one of the most environmentally friendly upgrades any homeowner can make — and why Palmetto wants to help as many homeowners as possible make the switch to solar.
If buying solar panels sounds more appealing than leasing, EnergySage offers free tools that allow homeowners to get estimates from verified, local installers, making it easy to compare quotes. And if you're unsure about whether leasing or buying is right for you, check out the pros and cons of each option.
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