The National Energy Assistance Directors Association predicts a significant rise in home heating costs this winter because of climbing electricity and natural gas prices.

What's causing higher energy costs?

"The cost of home heating with electricity is primarily rising due to continued high cost of maintaining and upgrading the grid, rising natural gas prices — a primary feeder fuel for generating electricity — and increasing demand from data centers," according to the NEADA. A Consumer Price Index report revealed that electricity and natural gas prices have risen by nearly double the rate of inflation over the last year.

Home heating costs are expected to increase by nearly 8%, from $907 to $976, compared to wintertime last year, for those using fuel. For families who rely on electricity for heating, those costs are predicted to increase by over 10%, from $1,093 to $1,205.

One way to save big on energy bills is to invest in solar panels, and TCD's Solar Explorer is a one-stop shop for all your solar needs when you're ready to start your search. These options include buying and leasing solar panels, and you can save up to $10,000 if you purchase panels.

Why is this concerning?

In the NEADA report, researchers noted that around 21 million households, or 1 in 6, are falling behind on energy bills. Four million could have their lights shut off by utilities, a dangerous possibility in low temperatures. 

Meanwhile, many utilities are raising electricity rates to cover the cost of infrastructure upgrades needed to keep up with data center demand. But many families, especially those living at or near the poverty line, cannot afford spikes in energy bills. 

"Without reform, energy insecurity will deepen, and utility debt will rise," the report explained. It added, "Utilities must include substantial affordability discounts as part of any proposal to increase rates for upgrading the grid and other improvements."

How going solar can help with energy bills

Leasing solar panels through Palmetto's LightReach program is one great option, as the company will take care of all maintenance and help you lock in low energy rates without upfront costs. TCD's Solar Explorer partners, including EnergySage, also offer great resources, connecting you with qualified installers who will get you set up with the right system for your needs.

Palmetto offers $0 down subscription plans that can cut your utility rate by 20%. You can also use the free Palmetto Home app to unlock $5,000 in rewards to use on home upgrades by completing challenges such as cutting down on energy use. 

And you can save even more by pairing a home solar system with an energy-efficient heat pump, which is where TCD's HVAC Explorer comes in handy. Depending on the model you choose, you could slash your heating costs in half and enjoy free service calls.

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