Renewable Rides Ep 79: What is Happening with Energy Rates? Recent Increases and State Comparisons
Electricity rates are rising faster than ever, but what does this mean for businesses? In this episode, we break down the shifting economics of onsite energy solutions. With electricity rates surging—especially in states like California—many businesses that previously dismissed onsite energy are now reconsidering their options. We’ll explore why these rates are climbing, the role of investor-owned utilities, and how businesses can take control of their energy costs.
We also discuss the aging U.S. power grid, its reliability challenges, and the policy shifts shaping the future of energy. Listen in to learn the advantages of behind-the-meter solutions like solar, battery storage, and micro gas turbines, along with key government incentives that could make these investments more affordable.
What You’ll Learn in Today’s Episode:
- Why electricity rates have surged in the last four years.
- The key differences between investor-owned and municipal utilities.
- How deferred grid investments are driving up energy costs.
- The risks of an aging power grid and how it impacts reliability.
- How businesses can offset rising costs with onsite energy solutions.
- The financial benefits of solar, battery storage, and micro gas turbines.
- How tax incentives like the Inflation Reduction Act can lower investment costs.
- Why Power Purchase Agreements (PPAs) can stabilize energy expenses.
- Actionable steps businesses can take to future-proof their energy strategy.
Resources In Today's Episode:
You can view a video of the conversation on VECKTA's website here: https://tinyurl.com/bdhb346y