June 1, 2016March 18, 2019 by David Bar

PSEG LI Solar – Loan, Lease or Purchase Solar Panels – Why Now?

PSEG LI Solar – Loan, Lease or Purchase Solar Panels and take control of your energy costs now.
PSEG Long Island is trying to increase the costs of electricity overall while touting lower overall electrical costs. By taking advantage of cheaper fuel costs, PSEG can reduce overall electricity costs while increasing the costs of delivery.

“The only way to avoid these tactics is to go solar and take control over your energy costs”

said Long Island Solar Contractor Executive David Bar, VP of Grid City Electric.

Prospective solar customers can control costs better if it is produced right on their roof

Getting a solar estimate is as easy as giving Grid City Electric a call or submitting your contact information HERE.
This Chart by Bloomberg has shows that cost of electricity goes up while the cost of solar goes down.

“People who have been on the fence about going solar can take advantage of a sweet spot in solar where low costs coupled with great government solar incentives make a compelling case for solar adoption.” – David Bar of Grid City Electric

Grid City Electric has been installing systems in Long Island and New York City to help alleviate customers concerns about both the PSEG and Coned rising electricity costs. Incentives are on the Federal, State, Local, and sometimes the utility level.

Every customer’s PSEG LI electrical bill is made up of two portions

Delivery: A strange cost which the utility charges to deliver the power through the electric lines and to keep maintenance.
Supply: Is the cost to buy the actual power from various power suppliers which relies on the cost of fuels.

Supply Costs (Number 2) relies heavily on the cost of fuel which right now is at a historic low. As costs for fuel go down, utilities can maintain profits while reducing pricing to customers. Delivery Costs (Number 1) is determined by the utilities and the board.

More detailed information about the PSEG rate hike can be found HERE.

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Current Scheduled PSEG LI Rate Hike

2016	2017	2018	2019
3%	3.20%	3.40%	More

Utilities will take advantage of lower supply charges to soften the blow to customers from increasing delivery charges, allowing them to increase profit margins under the nose of their customers. If the cost of fuel were to rise, the customer would suffer the brunt of both higher supply and delivery costs.

Although the total cost of electricity may be lower, PSEG LI is not the cause. It is because of market forces pushing down the cost of fuels making costs appear to be cheaper. Delivery costs are still up and are scheduled to increase consistently get full PSEG LI rate hike coverage conducted by Grid City Electric.

PSEG Long Island is doing nothing to reduce energy costs internally.

Rather they are simply sending out notices on ways to reduce your consumption while increasing their internal costs.

Power outages at the same time are scheduled to increase due to a newly automated safety procedure increasing customer outages by 5% a year. Increasing rates do not always result in more reliable service. “For those who are not happy with power-outages, battery back up systems supplied are becoming very common for residential and commercial customers to own” Says David Bar

Newsday also reports that PSEG Long Island is recommending an increase to the fixed monthly service fee incurred by PSEG LI customers. This is a sneaky way of increasing revenues while touting overall lower energy costs. Utility customers will always end up “carrying the bag” should fuel costs increase where there would be higher, delivery, supply, and monthly service fees. David Bar states that “the solar customers who are most susceptible to long term harm are the solar leasing customers who justified their purchase based on marginal savings. They take the biggest risk of being upside down on their investment.” He continues, “The smartest thing to do is to finance the solar energy systems which typically have a higher savings, higher flexibility with respect to market changes, and ultimately a bigger benefit at the end once full ownership is achieved.” Get a quote today for a financed solar energy system in Long Island and New York City. Or simply read more about the topic at our blog post Cost of Solar