If you are interested in saving money and saving the environment, one option that you may want to consider is installing a solar system or a net metering. A solar system will allow you to receive retail credit for the energy that you generate and use when you’re not generating retail power yourself. You may be familiar with net metering. Net metering is when you have an arrangement with your electricity suppliers that allows you to receive retail credit only for the portion of your electricity that you consume. For instance, if you’re using three units of electricity per day, you only receive retail credit for two of those units. You can then sell the excess electricity back to the power supply company for a profit.
In order to be eligible to participate in a net metering arrangement with your electricity suppliers, you need to be a residential customer with an approved rating. The rating you choose will depend on your electricity usage and your personal financial situation. It is recommended that you choose an approved provider so you don’t create more demand by choosing a provider that is not financially stable. This can create a negative impact on your credit rating and reduce your eligibility for federal programs such as financial aid for students or grant money for home improvements.
If you prefer a fixed rate with a predictable monthly payment amount, you should choose a supplier that offers you a variable rate contract. A variable rate contract will allow you to have up to four rate choices. Your electricity suppliers can increase your rates up to four times over the course of the contract. If you are concerned about rising fuel costs, you should look for a supplier that offers you a fixed rate that cannot be affected by fluctuating fuel prices.
If you are interested in receiving no retail credits at all, one of your options may be to choose a deregulated supplier. Deregulated electricity suppliers are not regulated by the government. This means that you can go to any number of companies and ask them to supply you with electricity at a wholesale price. Depending on the size of your home, there are likely to be several different companies that you can contact to provide you with power at a price that is suitable for your budget. You won’t be eligible to receive retail credits from these companies, so you won’t have to pay taxes on any energy you purchase, but you can still save if you shop around for the lowest price.
Another benefit of shopping online for your energy is that you can compare prices before switching electric companies. Comparing prices and terms can be a very effective way to find the best deal. Many people who make the switch to cheaper electricity suppliers never pay retail prices again!
Once you have chosen the electricity supplier that you think offers the lowest cost, you should request a copy of your current utility invoice. This will tell you the basic cost of using your energy supplier each month. You will then want to request three additional bills to compare with your initial document. These bills will provide you with more information about the price per kilowatt hour that your utility charges you, along with their reputation for service. When comparing prices between your three utility companies it is important to note the difference in the price per kwh. This will allow you to choose a provider whose price per kilowatt hour falls within your budget.