Xcel Energy, MN Power, and Natural Gas Rates Increasing
Brace yourself, Minnesota—it’s time to prepare for rising energy prices. According to reports from Minnesota Public Radio, over the next three years Xcel plans to raise energy prices to transition towards more renewable options. This transition, which is expected to begin on January 1, 2022, will add approximately $18 to $20 more per month to your electricity bill.
Minnesotans will likely be heavily impacted by this increase because, as we all know too well, the winter season brings expensive heating bills, which are expected to “skyrocket” this winter due to rising gas prices. According to Xcel, the average person will pay $165 more this winter due to a predicted 49% increase in natural gas prices.
Xcel energy isn’t the only one though. According to the StarTribune, MN Power, based in Duluth, MN, is increasing rates by nearly 18%, adding significantly to your monthly electric bill. Utility company CenterPoint Energy is asking state regulators at the Public Utilities Commission (PUC), to increase natural gas rates by 6.05%, also increasing customer’s monthly bill. With inflation climbing, energy rates are extremely vulnerable.
Solar Panels Can Help You Save
This is where Cedar Creek Energy comes to the rescue to save you from your daunting energy bill. With Cedar Creek Energy’s solar options you will save money, guaranteed. It is no mystery that solar panels can help reduce your electricity bill substantially and even give you money back. In certain areas in Minneapolis, the estimated savings per year is $6,000 which gives you back nearly $100 per month! In fact, the snowy winter days could even give you a boost, as the reflection of snow generates even more energy for your household. Additionally, you will receive a federal Solar Investment Tax Credit when you install solar panels before 2023.
Not only will you save money, but you will also greatly reduce your carbon footprint. Solar panels and other renewable energy sources are a proven and consistent trend towards a greener and more cost effective source of energy. With energy rate increases showing no sign of slowing down, consider installing solar panels, to save in the long run.
Cedar Creek Energy is your local and environmentally conscious energy expert that prioritizes its clients, their needs, and sustainable energy options for the future. Connect with us today and get ahead of the game.