The Nova Scotia Utility and Review Board (UARB) recently announced approval for Nova Scotia Power to move ahead with its planned 14% rate hike, despite pushback from the provincial government. The plan is to increase rates by 6.9% in 2023, followed by another 6.9% in 2024.
The board deemed the hike necessary to upkeep Nova Scotia Power’s financial health and maintain the quality of service for customers around the province. According to NSP, raising rates now will prevent bigger price jumps in the future as the province works toward decarbonization.
With electricity bills already on the higher side, Nova Scotians are understandably struggling to keep up with these soaring prices—and the uneased frustration is being felt across the province.
Lower Your Electricity Bills With Solar Energy
So, what can Nova Scotians realistically do to protect themselves from unpredictable rate increases? Although cutting back on usage is always an option, it might not be a feasible long-term solution. There’s a misconception that solar is an expensive upgrade, which can be nerve-racking to think about, especially if you’re already on a budget. However, there is a way you can enjoy all the benefits of solar without any large up-front payments.
Financing programs and government grants make going solar more affordable than ever. More importantly, your expenses don’t have to increase. We personally offer an exclusive 13-year 0% financing program for our customers in Nova Scotia.
Think of it this way. You’re producing and directly using your own clean energy, meaning you won’t have to take as much from your utility company. With programs like Net Metering available, any extra electricity you produce is sent to the grid in exchange for credits that can be used to offset future power bills at a 1:1 ratio. You effectively get to use the grid as a free storage system, all while significantly lowering your power bills.
Best of all, your savings should be enough to completely take care of your monthly solar financing payments. So, while electricity prices may continue to increase, your monthly payments are locked in for the entire financing term. After the panels are paid off, they’re 100% yours! That means no monthly payments or expensive power bills ever again.
Sounds too good to be true? Test it out yourself by getting a free quote from one of our solar specialists. We’ll lay out everything you need to know about your potential production and projected savings throughout the years. You can’t stop rates from rising, but you can save your money and stress levels by switching to solar energy.