The short answer is no. Although wholesale electricity prices have fallen, residential prices are not expected to go down anytime soon. In fact, in the first half of 2023 alone, electricity prices rose by 10%, bringing a kWh to 17 cents.
Wholesale electricity prices are great for businesses because they are expected to drop in 2023— they drop frequently compared to consumer energy prices. The lower electricity bills of solar companies mean more affordable solar products, however utility companies do not share their extra earnings with customers. Unfortunately, utility companies also pose considerable time lags in adjusting prices. The recent rise in natural disasters, including recurrent hurricanes on Florida’s coast and forest fires in California’s forests, have severely contributed to climate change. Such natural calamities are by-products of fossil fuels because their consumption is one of the biggest polluters in the world. The price of energy is heavily influenced by global events. Currently, Europe imports Liquid Natural Gas (LNG) from the US after it stopped importing from Russia. So, the supply in America’s local markets dipped, but the price rose. COVID-19 is another major cause of ever-increasing electricity prices, as supply chains were cut off when the world went into shutdown. Earlier, we mentioned the energy price cap, which is a hot topic that is set 4 times a year. It is the maximum price utility companies can charge for 1 kWh— if you’re on a standard or default tariff. Typically, it is practiced in the UK. Given the disproportionate rise in the world’s population, factors mentioned above, and a 40+ year trend of soaring energy prices, consumer energy prices are not expected to go down anytime soon. So, time for speculation is over because the future for electricity prices seems bleak. Albeit, solar electricity solutions have never been more popular in human history. Obviously, you can not control the global energy crisis single-handedly. So, it’s wise to stop worrying about things that aren’t in our control, and start devoting our entire mind towards controlling what’s in our control. In this case, how and what we do with our electricity is in our control, so optimizing it is a must if you want to be successful in life— there are plenty of savings on the way.
Nowadays, the popularity and demand of solar panels have significantly decreased the demand for fossil fuels, such as LNG, petroleum, diesel, etc. So, it’s the best time to jump this sinking ship, and go for off-grid living; self-reliance. With affordable home battery backups, you can turn your home into a ‘hybrid solar system.’ But, before getting fancy, innovative appliances, you should first identify the power requirements of all appliances. Once you identify them, add them up to understand your whole house requirements. Every appliance has a running wattage, but do you know about a surge? A surge is the energy required by a heavy appliance to start, such as a refrigerator. So, surge should be given its due diligence too. The below is a simple example of calculating your home appliances’ power requirements. But, you should individually look at each appliance, instead of searching for every value on the internet. Once you’ve identified your total consumption, go for a home battery backup that gives you the same or more— the latter is preferred. Basic changes in appliances, such as LED bulbs, can go a long way in saving you the stacks. However, if you want substantial results and complete independence from the grid, go solar with BLUETTI AC500 + B300S, which is an affordable, efficient, and practical option. Household Appliance Related Watts Starting Watts Light Bulb 25-100 0 Ceiling Fan 75 0 Television 80 0 Microwave 600-1,000 0 Refrigerator 700 2,200 Air Conditioner 1,500 2,200 Washing Machine 1,200 2,300 Indeed, a hybrid solar system will give you complete independence from the grid, meaning you’ll never have to pay a hefty utility bill again. You will also continue your grind, live your normal life when the world is plunged into a backout, which are expected to get more frequent. A battery backup system, such as AC500, is all you need to fulfill your household needs along with camping. This $4,799 battery pack offers the best value for money in its class with its excellent performance features. Talking about efficiency, the 5,000 W Pure Sine Wave Inverter delivers consistent and optimal output with up to a whopping 10 kW surge protection, so plug-in with no worries. AC500 also boasts the best current battery technology with a LiFePO4, which drops to 80% battery capacity after running 3,500+ life cycles. If you combine two AC500s together, your home battery backup will easily support 240V appliances. But, it’s all about the practicality on offer. For starters, BLUETTI AC500 has everything the best battery backup will have, but at a lower price. Like the best battery backups, AC500 is 100% modular, which means you can expand your system’s capacity as you like by additional AC500 units. Each AC500 can operate up to 6 B300s, which are 3,072 Wh each. Consequently, connecting the sixth will increase your system’s total capacity to 18,432 Wh. For the ultimate experience, combine 2 AC500s and 12 B3000s for a mind-blowing 36,864 Wh total capacity. Apart from sheer customizability, this backup system can also be charged in a variety of ways, 7, to be exact: This outstanding feature makes this system perfect for RV owners and outdoor lovers. Another feature for adventurers is its 16 different types of sockets that cater 99% devices. The practicality features don’t seem to end, do they? The BLUETTI Smart App allows users to monitor and control their ‘hybrid solar system’ with their fingertips. Also, a 24/7 UPS connection will ensure all your devices are protected from surge and degradation from frequent blackouts.
So, with a four-year warranty, easy installment options, and a market-competitive price point, AC500 looks like a solid deal. Energy planning isn’t about installing an entire solar backup system tomorrow and going completely off the grid, it is taking simple lifestyle-based steps that prevent energy loss, saving you your hard-earned dollars. There are a thousand things you can do in your everyday life that will champion your energy consciousness, we will talk about a few. You don’t need to put your soaking plates in the dishwasher to dry, let them air-dry and lower your dishwasher’s cumulative energy use by 15% to 50%. Use a fan instead of an air conditioner; a fan uses 10% of energy that an air conditioner does. Adopting innovatively new technologies, such as the smart plug, which automatically turns your devices on and off through a timer, is the need of the hour given the rapid plunge in the country’s state of affairs. With fossil fuels burning and producing unimaginable amounts of toxic gasses into the air, you’ve got to stay away from it. That’s why conventional generators are kept outside. However, with its 66.2 lbs weight, you can easily transport it. With immense turbulence in electricity prices, frequent blackouts, aging infrastructure, intense environmental degradation, and whatnot, ties with the grid should be severed immediately for your, and the environment’s, benefit. Since your energy habits are in your control, you can change them by adopting smart and clean habits in your day-to-day lifestyle, for example using LED bulbs, and going solar by converting your house into a ‘solar hybrid system,’ which is self-reliant. You Might Also Like:
Why are Consumer Energy Prices so High?
What is the Energy Price Cap and is it Effective?
When Will Electricity Prices Go Down
Here’s What You Can Do to Lower Your Energy Bill
Go for Modern, Innovative Appliances
A Hybrid Solar System is the Way to Go
Energy Planning
Adopt an Eco-Friendly Lifestyle
Final Thoughts
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