Texas is Ready for Solar
Retail electricity costs in The Lone Star State are expected to dramatically increase in anticipation of a hot summer, power shortages, and increasing wholesale prices.
Prices will be highest during the summer months, when Texans use the most electricity, meaning this perfect storm has the potential to spike Texans’ summer electricity bills significantly.
For Texas residents who want to avoid these high costs, take control of their electricity bills, and declare their energy independence, there has never been a better time to make the switch to solar.
Teaser Retail Rates are a Thing of the Past
While finding a good deal on a three-month contract becomes increasingly challenging, prices on long-term plans are also rising. According to an estimate from The Association of Electric Companies of Texas, a trade group, the rate on a one-year fixed price offer has increased more than 20 percent to an average of $0.111/kWh.
Surging Wholesale Prices
The increase in retail rates comes as power companies across Texas anticipate surges in wholesale market prices. Because prices are likely to rise rapidly in the coming months, Direct Energy is no longer offering its “Power-to-Go” plan to new customers this summer. The prepaid plan changed rates on a monthly basis in conjunction with wholesale prices.
By some estimates, wholesale prices in Texas may reach a 15-year high.
Texas has Quietly Become a Leader in Solar Energy
A state known for bold independence and ample sunshine, Texas has been experiencing dramatic solar industry growth. The state economy continues to grow overall, with higher energy consumption to go along with it. At the same time, older forms of power generation are going offline. Solar generation is here to meet the Texas market’s demand.
Texas’ increase in solar energy has been driven by a meaningful decrease in solar costs. In the last five years, solar prices have fallen 55%. Already, more than 210,000 Texans are benefitting from those savings, having made the switch to powering their homes with solar. And along the way, 8,873 solar industry jobs have been created.
Making the Switch to Solar is Easy
Malek Service Company makes the process of switching to solar incredibly simple, including handling everything from scheduling to permitting.
By installing a solar system on your home now, you can escape the roller coaster ride that is projected to dominate traditional energy prices for the foreseeable future, allowing you to gain control over energy production at this critical juncture and lock in low rates for the life of your solar panels.
November 18, 2020