At a recent public hearing, Ameren Missouri asked Missouri utility regulators to approve a 15% increase in electricity rates.

When asked why the utility company requested to increase electricity rates, it was reported that Ameren Missouri’s regulatory vice president, Warren Wood said, “We’re hardening the grid, replacing old power lines, strengthening poles, upgrading substations, and you’re receiving some energy from new energy resources… We’re also installing some switches that can automatically detect and restore outages.”

While electricity rate increases are never fun, they are to be expected over time. Whether it’s hotter summers, repairing damage to transmission equipment from severe weather, or the increased costs of doing business, we can all expect our utility bills to routinely rise.

According to USInflationCalculator.com, the cost of electricity climbed from an average of 8.1 cents per kilowatt hour in 1985 to 13.5 cents in 2020, marking a 66.7% rate of increase in 35 years.

One of the best ways to battle rising electricity rates is solar energy.  By installing solar panels for your home or business, you lessen your reliance on utilities and reduce your energy costs every month. While solar panels come with an upfront cost, once you own them, the energy they produce is essentially free. Unlike Ameren’s power grid, the maintenance costs for your solar system is very low and predictable, giving you more financial stability. With solar, you protect yourself from future inflation or rate hikes since you’ll rely less, or even not at all, on utility-provided electricity.

You can create even more stability and self-reliance by adding a battery to your solar panel system. Batteries allow you to keep the essential electronics and appliances in your home or business powered, even when the grid goes down. That can come in handy when snow storms in winter or blackouts in summer unexpectedly cut power to your property. If you depend on energy to power your home office or run life-saving medical equipment, reliable electricity becomes far more valuable.

If you don’t have the cash to purchase a solar installation outright, several loan programs are available that make your monthly costs as much or lower than what you would normally pay for your monthly electricity from your utility company.

Now is an excellent time to go solar. The federal government offers a 30% tax credit to help further offset your upfront costs.

Offset Missouri electricity rate hikes for years to come with solar and energy storage solutions. If you would like to know if your home or business is a good candidate for solar, our consultants can quickly audit your utility bills and the layout of your property to determine your savings for free.