The Democrats’ Green New Deal is a walking disaster that will upend the economy of the USA. It will force power companies to make abrupt changes to switch to non-carbon sources of energy, creating sweeping regulations that will put the ones of the Obama era to shame. Ironically, one way to insulate yourself from the looming electricity hike (in the chance the Democrats win in 2020) is to go green yourself. (Image Credit: Maklay62/Pixabay)
Under the Trump presidency, corporate federal tax rates were fixed to a maximum of 21 percent. This led to massive savings for power companies, which in turn passed their savings to consumers. PacifiCorp and Dominion Energy have a combined savings of close to $80 million — most of which is used to lower the electricity costs of Utah residents. The Green New Deal will do away with Trump’s tax cuts, even promising higher tax rates for corporations. The Green New Deal will also force power corporations to adopt renewable and non-carbon sources of energy, forcing them to abandon existing plants and to invest in new technology and infrastructure. Both of these policies will increase the spending of power companies, causing your electricity bills to skyrocket.
Go Green Now to Avoid the Looming Price Hike
The Democrats aren’t waiting for 2020. Even now, House Budget Chairman John Yarmuth is proposing a measure to raise corporate taxes by 33 percent. Chances are, electricity rates will only go up soon. One way to avoid this price hike is to go green yourself. You won’t be paying sky-high electricity bills if you’re not consuming electricity. The price of solar panels has dropped down to affordable levels — a 6-kilowatt solar power system, which can power your whole household, now costs around $16,000-$20,000. The 30 percent federal tax credit on solar installations as well as Utah’s own solar incentive (which can reach up to $2,000) will drop those prices even further down to $9,200-$12,000. With proper financing, your monthly payment would probably cost around the same as what you would pay for your current electric bill. Even if electricity rates go up in the future, those solar panels would be providing most — if not all — of your electricity needs.
Get Paid for Going Green
The average Utah home uses around 750 kWh per month. A 6-kilowatt solar power system can provide 900 kWh per month, which means your house will be supplying more electricity to the grid than taking from it. You can further reduce your power consumption and raise your income by insulating your house and switching to energy-saving appliances like air conditioners and refrigerators that use inverter technology. Both these measures can cut your consumption by 30-60 percent, lowering your consumption to 525-300 kWh per month. Of course, you won’t be earning at a 1-for-1 rate, but since you already have free electricity, that’s just a bonus.
Going green protects you from the disaster the Green New Deal will have on electricity rates. You’ll be unaffected by whatever hikes that happen, and you can earn a few dollars in the process.