Energy bill costs are rising more quickly than the costs of groceries and rent, as reported by Newsweek, and experts believe this trend will continue.
Data tech company Arbor analyzed government data and determined that, from 2004 to 2025, the cost for electricity in the average household went from approximately 9 cents per kilowatt-hour to 19 cents per kilowatt-hour, equaling an increase of roughly 111%.
Why have energy costs risen so much? Electricity prices have been primarily driven up by the growing number of nationwide data centers, which consume massive amounts of energy and impact the grid. The U.S. Department of Energy released a report in December 2025 that determined data centers were responsible for 4% of U.S. electricity consumption in 2023.
The founder of Arbor, Andrew Meyer, explained to Newsweek, "We are entering the steepest electricity growth curve since World War II. If we don't modernize the grid now, power bills will be volatile, unpredictable, and unaffordable."
The good news is that homeowners can save money on their energy bills (sometimes lowering them to $0 per month) with the ultimate home energy hack — solar panel installation. For those ready to make the switch, EnergySage offers a free online service that finds and compares quotes from vetted local installers, and it can even save homeowners up to $10,000 on installation.
Additionally, switching your HVAC to a heat pump can save you roughly $400 per year on energy costs. Affordable heat pumps are simple to find with the help of Mitsubishi and well worth it for the potential savings.
Besides being one of the best ways for homeowners to save a significant amount on home energy, switching to solar energy also helps lower planet-heating pollution. By reducing pollution, homeowners benefit from cleaner air and aid the planet in achieving a cooler future.
However, for many, the cost of installation can be a barrier to switching to solar energy. Luckily, homeowners can access the benefits of solar panels without the sometimes massive upfront costs via leasing.
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. |
Palmetto's leasing option, LightReach, allows homeowners to explore solar panel installation while minimizing the upfront costs (including some plans with no money down). However, for homeowners who check out Palmetto's leasing option and decide it isn't for them, EnergySage's free tool is still available to help.
Still can't decide whether leasing or buying solar panels is best for you? Check out the pros and cons of each to determine the best option to meet your energy needs while reducing your monthly bills.
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