Navigating the Illinois Electricity Hike: Why Now Is the Time to Go Solar
Illinois electricity prices are on the rise, driven by inflation, supply chain issues, and increasing demand. Learn how switching to solar energy can help you save on your utility bills, protect your finances from future price hikes, and contribute to a greener environment. Discover why now is the perfect time to make the switch and secure your energy future.
Ryan Cook
8/21/20241 min read
Illinois Electricity Market Update: Rising Prices and the Urgency of Going Solar Before Year-End
As we approach the end of 2024, Illinois residents are not only facing rising electricity costs but also a significant change in solar energy policy. Ameren Illinois has announced that its dollar-for-dollar net metering program will end on December 31, 2024. This means that any solar systems not installed and commissioned by that date will not be grandfathered into the current net metering program, leading to reduced financial benefits for future solar adopters.
Why Are Electricity Prices Rising?
Several factors are driving up electricity costs in Illinois:
Inflation: The rising cost of raw materials, transportation, and labor has pushed up prices across the board, including in the energy sector.
Supply Chain Disruptions: Ongoing global supply chain issues have increased the costs of maintaining and upgrading the electricity grid.
Increased Demand: With more people working from home and the rise of electric vehicles, electricity demand has surged, leading to higher prices.
Investor Owned Utilities: Investor owned utilities are always going for more profit each year and that can ultimately come from one place, higher rates for the user.
The Urgency of Going Solar Before December 31, 2024
With the end of Ameren Illinois' net metering program approaching, there’s a limited window to maximize your savings. Solar energy offers a powerful solution to combat rising electricity costs by allowing you to generate your own power and reduce your reliance on the grid. But to take full advantage of the current financial incentives, your system needs to be installed and commissioned before the year-end deadline.
Act Now to Lock in Savings
If you’ve been considering solar, now is the time to act. By starting your solar project today, you can ensure that your system is in place and fully operational before the December 31 deadline, locking in the most favorable financial returns under the current net metering program.
Contact us today for a free consultation and quote. Don’t miss out on this crucial opportunity to save—secure your energy future with solar before the deadline.
Author-Ryan Cook-Owner Ltd Consulting