Sungevity locks in a 2.9% rate hike each year which if you research the other companies their rate hikes are much higher. One larger solar panel leasing/purchase company that interested me, before I picked Sungevity had a 4.7% rate increase each year. Another one was at 3.5%.
The predicted rate hike for Edison was 5% each year. I am in Tier one each month, while before solar I was in tier 3 or 4 each month. That means instead of a 12 cent per unit rate it would go up to 25 cents or more. I am saving so much.
Here is a letter I received today from a Sungevity advocate.
Gotta love SoCal Edison…our 2.9% escalator looks pretty nice now
If approved, monthly electricity bills would jump about 9.1% for the average residential customer, who uses 600 kilowatt-hours of power a month. Low-usage customers — below 300 kilowatt hours — would see rates climb about 5.9%, while customers who use 900 kilowatt-hours or more would see their bills increase 11.1%.
At a time when Californians are struggling in a weak economy, Edison’s request reflects “a stunning display of tone-deafness,” the Utility Reform Network said. The San Francisco consumer group said Edison was putting its hand out as “nearly every other state business and resident [is seeking] ways to tighten their financial belts.”