FPL Energy Rates Have Gone Up
More increases approved through 2019.
The first rate increase occurred in January 2017 with most customers seeing an increase of about half a cent per kWh. The remaining increases will occur each year until 2019. Most customers can expect to see about a 7% increase this year, 3-4% in 2018, and a 1-2% increase in 2019.
This is an increase we know. It is on the books. Other rate hikes aren't off the table in coming years. With coal subsidies drying up and long-term power purchase agreements coming to term, other increases can and most likely will occur over the next 5-10 years.
Per the Department of Energy, over 30% of energy consumed in buildings throughout the United States is simply wasted. In Florida, most of that waste can be attributed to inefficient cooling systems and poor thermal envelopes.
If you live in Central Florida, take a look at your electric bill for February 2017 (Last Month) and compare it to February of last year? Increased? How much? Although some of this can be contributed to the .5 cents a kWh increase, most of this is because the average daily temperature for February 2017 was 8 Degrees warmer than last year. 8 Degrees! One study we reviewed showed a 39% increase in cost. That was after 10-25% decreases in energy costs were recorded for like temperature day/months after small upgrades. A well sealed and insulated home would have shielded this curve significantly.
So what can you do?
Larger investments such as a new roof, air conditioning system, or major appliances will save you the most money but also require a larger investment.
If you need a new roof, then spend a few extra dollars and get cool roof certified or solar reflective roofing materials. It pays back quickly! Choosing cooler colors such as light grey, and white also helps immensily. If your roof has a lot of life on it, then wait. But if its at its end of life, then make the investment.
Same goes for windows and doors, air conditioning, hot water heaters, appliances, and other major upgrades. If its time or if already in the market, then take the time to check the EnergyStar, SEER, and SRI ratings and compare. Spending a few extra dollars now will save you time and time again, each and every month.
Smaller investments such as CFL/LED light bulbs, smart thermostat and lighting technologies, insulation, and duct work seal and repair services provide you nickel and dime savings instantly. Other low-tech solutions such as our innovative Indow Window insert products can add comfort and savings and a fraction of the cost of other major repairs. Inefficient pool pumps and other ancillary equipment cost home owners thousands.
Once you've reduced energy waste, you can produce your own energy with Solar PV. With the current tax credits, a simple return on investment of 6-8 years is common.
Get started today. Contact Wave Energy for a free consultation. We can review your current demand and find ways to save you money. As a full service general contractor, we can manage and provide all the solutions listed above and many more. Our goal is to help you stop wasting energy, save money, while also increasing the value of your home. Call us today!