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Electric Rates Rise Again

Pennsylvania Electric Rates Up 34%

November 24, 2021 By Dan Seitz In Market Updates, News No Comments

Business owners continue to see the cost of energy increase above inflation rates ahead of a cold winter. Pennsylvania clients electricity supply rates are increasing up to 34% this winter. For high energy consumers, this means a significant increase to their operating budget in an economy already facing multiple challenges. There are a few things business owners should be thinking about: 1. Looking at fixed energy contracts 2. Examining solar as a long term hedge against rising energy costs 3. Finding ways to conserve energy. What will your business do?

Electric Rates Rise Again

Business owners continue to see the cost of energy increase above inflation rates ahead of a cold winter.

At Met-Ed, the tariffed commercial PTC-Default rate will increase 26% to $0.08707 per kWh effective December 1, versus the current $0.06914 per kWh
At Penelec, the tariffed commercial PTC-Default rate will increase 31% to $0.08636 per kWh effective December 1, versus the current $0.06585 per kWh
At Penn Power, the tariffed commercial PTC-Default rate will increase 18% to $0.10065 per kWh effective December 1, versus the current $0.08495 per kWh
At West Penn Power, the tariffed commercial PTC-Default rate will increase 34% to $0.07609 per kWh effective December 1, versus the current $0.05660 per kWh
All of the new PTC-Default rates for the FirstEnergy Pennsylvania EDCs are to be in effect for the period December 1, 2021 through February 28, 2022.

Tags: commercial electricity, commercial solar, electric costs, electricity rates, Pennsylvania, Solar

Genie Energy Ltd., (NYSE: GNE, GNEPRA) is a global energy solutions company. We supply customers in the US and Europe with electricity, including electricity generated from renewable resources and with natural gas. Through Genie Solar Energy and Prism Solar, we design, construct and install commercial solar energy solutions. We provide commercial and industrial clients with energy brokerage and consultative services through our Diversegy brand.

Wiley Property Management Case Study
The installation of the solar array on the roof of storage facility is leveraging a limited regulation called “Group Hosting”. Group hosting is a method where a group of businesses or individuals share the installation and use of a larger solar array on a single property.
Bake Crafters Food Company
Bake Crafters’ commercial solar array is a remarkable example of sustainability in action. With an output capacity of 800 kW and predictions of offsetting 770 metric tons of CO2 emissions.
Integra Biosciences
Integra Biosciences’ Commercial Solar project achieves 22% IRR and aligns with the company’s global sustainability goals and commitments. The two installations total 572-kW and generate enough power to offset 844,000 kWh.
Commercial Solar Case Study – Kraft Power Power
Kraft Power utilized American made solar panels to install a 57.5 kW system on their roof. The new rooftop solar system, will help Kraft Power offset 100% of the electricity usage every year.

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Learn what community solar and solar land leases are and the benefits they bring to both the landowners and their communities.
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Commercial Solar partners can integrate solar solutions into their existing services, offering comprehensive packages for all energy needs.
It’s Time for Businesses to Stop Leasing Their Energy
By embracing commercial solar, businesses claim authority over their energy costs, insulated from the unpredictable utility rate changes.
Limited Grid Capacity for Commercial Solar
Some states are struggling with limited grid capacity for commercial solar projects. See what business owners can do about it.

Convinced to go solar by the New Jersey incentives, PCS Wireless looked at several solar companies to provide the best overall value. Genie Solar was able to design a unique system to offset the largest portion of their electricity usage. Additionally, we combine it with an exclusive financial product which minimized the cash out of pocket and maximized the return on investment. The 494 kW system was constructed in minimal time, with no impact on the businesses operations.

PCS Wireless

A provider of engine-generator systems, Kraft Power was a pioneer of “Total Energy” (Combined Heat and Power). After seeing the financial and green benefits of solar at their headquarters in Massachusetts, Kraft wanted to capitalize on the lucrative state incentives in New Jersey at a distribution center. By installing a 57.5 kW system on the roof they were able to offset 100% of their electricity usage, take advantage of the Investment Tax Credit, accelerated depreciation, and collect revenue from the New Jersey SREC program. Genie Solar made it a smooth process and limited the need for internal resources to manage the project.

Kraft Power

A premier provider of water treatment in the New York and New Jersey area, Tower wanted to go solar to save money and generate clean energy. Upon reviewing the financial benefits available in New Jersey with the SREC program and the federal Investment Tax Credit, they wanted to safe harbor the project in 2019 and construct in 2020. Buying American Made panels was an important component of the project, and by utilizing their white roof, Genie Solar was able to leverage Prism Solar’s bifacial panels to minimize the square footage needed and maximize the electricity generated. Genie Solar helped them achieve all of their goals in an efficient manner with a 44.6 kW system.

Tower Water

Cardoza had both a showroom and a distribution center with exorbitant electricity costs in New Hampshire. As a legacy business, it was important to reduce costs and protect the business from increasing expenses prior to passing it on to the owner’s children. The show room’s roof and location made it a less than ideal location for solar; but the vast roof and direct sunlight on the distribution center could generate enough solar to power both facilities, plus the owner’s house. Leveraging New Hampshire’s group host program, Genie Solar built one 99.7 kW solar array to power all three locations. The owner is now considering converting more equipment to solar and building a second array.

Cardoza Flooring

A destination nursery in rural New Hampshire, HBTSR was a long standing customer of Genie Solar’s sister company, Diversegy. After helping the business reduce electricity expenses for the past number of years, HBTSR turned to Genie Solar to reduce their rising electricity expenses over the long run. “Between the federal and NH state incentives, I was paid $8,000 to install my solar array. On top of getting money back, I am going to realize over $300,000 in savings during the 25 year warranty period of the solar array.”

House By The Side of the Road