Turn on the news or open up any social media and you will surely hear about inflation. The prices of gas, bread, milk, and so much more are being tracked in real time, and the rising prices are worrying everyone. Supply chain issues and shortages are causing these pricing increases. Interest rates are being pulled up in an effort to curb demand and control these price spikes, which in turn scares the markets and drives down stock prices. This wipes out the cash of many companies already struggling to keep up with demand, pushing the economy towards recession. It is hard to find a safe investment anywhere when the economy itself is shrinking. Everyone is shouting from the rooftops that the investments everywhere will continue to collapse and prices will continue to hurt everyday Americans. This reporting and constant news coverage has potential to push this already difficult economic situation into a spiral and compound the issues. Everyone is spreading doubt and fear, which makes any purchasing decision a hard one. This is an anxiety-producing time for many homeowners. People are left wondering how they will keep up with rising prices when their income and demand for goods hasn’t changed. Others are looking for ways to make money back, watching their portfolios experience double digit percent losses. Watching your investment portfolio and savings disappear and lose value is never a fun way to spend your summer. So how do we get control of the situation?
There are plenty of arguments on how best to handle these challenging economic times. Whatever side of the fence you land on regarding what our elected officials should do, the unfortunate truth is there isn’t much a typical homeowner can actually control. Large scale world events like a war overseas and world-wide shut downs are out of the reach for most Americans. However, there is some good news! We can still make choices at an individual level that will help cope with the rising costs, if nothing else. Of all the choices you can make to help get control over your finances in a time of economic uncertainty, one stands out among the rest. This choice is a no-brainer that many Americans have yet to take advantage of. Installing solar on your home.
Your demand for electricity is very hard to curb. Our modern life requires us to stay turned on, especially if you are working from home. So if your utility company announces tomorrow that they will double the cost of the kilowatt-hours (kWh) being delivered to your home by their power lines, what would you do? I for one would try to conserve as much as possible. Wait a little longer to do the laundry, run the AC less, and so on. For many people, this is hardly an option, and they would opt to pay it. There is no other utility company you can call up to switch to. Even if you change suppliers in an attempt to save money, the reality is the same company owns all those transmission lines that deliver that electricity and still control the cost to homeowners. With rolling blackouts from heatwaves and ever-increasing demand for electricity, plus the pressure of inflation, many homeowners are seeing record breaking increases in their utility bills. But remember: I promised good news! There exists a group of American homeowners that aren’t worried about the bleak outlook of our electricity rates. That is the group of homeowners who decided to own their own power by installing solar!
Right now, millions of Americans are enjoying the benefits of energy ownership. The price of their kWh hasn't moved, and they aren’t overly reliant on their utility company to play fair. Installing solar panels on your home hedges against inflation and rising energy costs. Many homeowners have either paid in full for their solar and are enjoying low to zero dollar bills, or are taking advantage of fixed payment, low interest loans. Those homeowners have locked in their cost of energy to half of what their neighbors are paying! They are building equity in their energy. They are on the path to energy freedom, while investing in their most valuable asset: their homes. They are seeing a risk-free return on their investment far better than anything you can see in these market conditions. These people have made the right choice in their energy, and can sleep well at night with the AC turned as low as they want. Make the decision today to stop letting your money lose its value and to stop letting your utility stress you out during this already too stressful time. Own your energy future and reach out today to find a better, less stressful path forward.