Winter is coming. And this year, experts expect that higher energy bills will be a stark reality for most American households. 

What's happening?

The National Energy Assistance Directors Association estimated that homes with gas and electric heat will see average seasonal utility bill increases of $54 and $112, per CBS News.

"We had a period of relatively stable electric bills and then last year electricity went up twice the rate of inflation," NEADA Executive Director Mark Wolfe said in the story. 

In August, electricity prices jumped 6.2% compared to the same month last year. Natural gas prices are up 13.8% in 2024. The inflation rate is 2.9%, per CBS. 

Leading factors behind utility bill increases are costs needed to maintain and upgrade the grid, rising natural gas prices, and skyrocketing data center power demand, per CBS. 

It's a scenario that spotlights money-saving moves such as solar panel leasing from Palmetto. Home solar is a great way to lower or even eliminate your utility bill. 

Why are energy prices important?

Many customers have been struggling to pay their energy bills for years. Since the winter of 2023, unpaid utility bills have jumped by 31% to a total of $23 billion, according to NEADA data published by CBS. 

The Low Income Heating Assistance Program, or LIHEAP, that Wolfe's agency helps to monitor, has been on the government's chopping block since early this year. About six million Americans use the program to help heat and cool their homes, according to NPR. NEADA said in a news release that it expects the program to be funded in 2026, but analysts aren't sure about the amount. 

Homeowners who use heating oil and propane will see a drop of up to 5% in energy bills this year, per NEADA's data. But burning the dirty fuels is a leading contributor to Earth's overheating, linked by NASA to extreme weather such as severe heat waves. The overburdening temperatures could make some places uninhabitable, according to agency experts. The intensity contributes to greater energy demand for cooling, straining the grid even more.  

Palmetto's LightReach program lets you access solar panel technology with no upfront costs. Even on a large scale, Reuters reported that renewables are the cheapest energy sources to develop. 

How often do you worry about your energy bills? Every day 😥 A few times a week 😟 A few times a month 🙁 Only when I pay it 😬 Click your choice to see results and speak your mind.

What's being done to help?

Leasing solar panels removes the initial expense and all maintenance responsibility from the homeowner. Renters pay a set monthly fee and use all the electricity generated. But it's important to do some research before you decide between renting and buying. Palmetto has a guide to help you explore the pros and cons of each option. 

Federal tax breaks for buying panels expire at the end of the year, so there's still time to save up to $10,000 with help from EnergySage. Their reliable and free resource can compare quotes, find an installer, and help you lock in all applicable rebates. 

Staying informed about utility prices and why they are increasing is an important way for customers to vote with confidence by supporting candidates with energy policies that are better for household budgets and the planet. 

The rising cost of energy is a dire problem that's compounding each season, Wolfe told CBS. 

"Families just finished paying their high electric bills for the summer, and now they're looking at high bills for the winter," he said in the story. 

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