Southern California Edison (SCE), one of California’s big utilities, is implementing significant increases to their bundled electric rates. Starting April 13, 2020, SCE has raised rates by an average of roughly 7%, which will affect all categories of ratepayers. As stated in SCE’s recently filed Advice Letter 4172-E-B, the rate increases are targeted to increase SCE’s revenue requirement by $477.6 million dollars.
These rate increases were previously approved as part of SCE’s 2018 General Rate Case (GRC) settlement agreement, so the changes were previously known to be coming. But the timing for implementation is obviously not ideal considering that this comes during the heart of the COVID-19 pandemic.
Thanks to Solar energy storage + net metering, project owners are credited for the energy that their solar panels generate at the same rate that they would pay to their utility. As a result, you can save tens of thousands of dollars on electricity costs over the lifetime of your solar energy system.
Solar power is becoming more affordable and more efficient at turning the sun’s energy into usable electricity. People can also profit from solar energy by having solar panels installed on their own homes or businesses in order to take advantage of net metering to reduce utility bills. And as our article above articulates, installing on your irrigation ponds is a viable option too.