As a family-owned solar installation company based in Ohio, Kokosing Solar knows you pay attention to your energy bills. With the recent announcement of First Energy of Ohio rate increases doubling electricity rate prices for customers in Northeast Ohio, we have heard from more and more of our Cleveland and Northeast Ohio neighbors who are thinking about making the switch to solar. This news is alarming for many households and businesses in the region, who will undoubtedly feel the financial strain of higher energy bills.
What are First Energy or Ohio Rate Payers paying?
First Energy provides electricity to Ohio Edison, The Illuminating Company, and Toledo Edison customers in Ohio.
If you’re a customer of Ohio Edison, The Illuminating Company, and Toledo Edison, you may wonder why your electricity bill went up this year.
After a competitive auction, the costs for Northeast Ohio energy customers are listed below.
- Ohio Edison: 12.39 cents/kilowatt hour
- Illuminating Co.: 12.40 cents/ kilowatt hour
- Toledo Edison: 12.41 cents/ kilowatt hour
Why has my First Energy bill gone up?
For more details about the electricity rate increases across Ohio, check out this recent blogpost.
In short, various factors play into the increasing cost of electricity. The war in Ukraine, Climate Change, and changes in global oil production all play big parts in the price we pay at home for electricity.
What can I do to lower my electricity bill?
If you’re looking into solar, you’re already thinking about alternatives to reduce your reliance on historic energy sources. Solar power is a renewable and affordable option that can help reduce that reliance on monthly electricity rates.
At Kokosing Solar, we have been installing solar for over 20 years, and we believe that investing in solar energy is a smart long-term solution for both homeowners and businesses. By switching to solar, you not only save money on your energy bills, but you can also reduce your carbon footprint and contribute to a more sustainable future.
Additional reasons to consider solar
- Compare this with the prices listed above: Solar power comes in at roughly $0.05 – $0.07 per kWh over the system’s lifetime.
- This year we saw electricity prices double, and there’s no guarantee that won’t happen again next year
- This rise is far beyond the 3% electricity inflation rate we have historically modeled for our customers.
- Net Metering and The Federal Tax Credit for solar make solar an affordable option for many homeowners
- The cost to install solar has decreased 80% in the past 5 years
If you want to learn more about how solar power can benefit you, we encourage you to contact us for a consultation. Our team of experts can help you determine the best solar solution for your needs and budget and guide you through the entire process from first consultation, through permitting, and financing all the way to installation.
In conclusion, if the news of rising electricity rates is worrying you, remember that alternatives are available to help alleviate the financial strain. Solar power is a smart investment that can save you money in the long run, and Kokosing Solar is here to help make the transition to solar as educational and effortless as possible.