As Nova Scotia regulators approved a 14% electricity rate hike, residents of the province are facing a difficult reality. With rates expected to rise on average by 6.9% each year in 2023 and 2024, it’s time for Nova Scotians to start considering alternative sources of energy. Solar energy has been a popular choice for many families, businesses and communities, and with the recent rate hikes, it’s becoming a more appealing option. In this article, we will discuss the reasons why Nova Scotians should be investing in solar energy now more than ever.
The Recent Electricity Rate Hike
On Thursday, the Nova Scotia Utility and Review Board (UARB) approved a 14% electricity rate hike, despite calls from Premier Tim Houston to reject the increase. The board noted that the increase is “reasonable and appropriate” and in the public interest. However, Houston claimed that the settlement reached between Nova Scotia Power and customer groups breached his government’s legislation, known as Bill 212, which was intended to protect ratepayers. As a result of the rate hike, Nova Scotia residents can expect to pay more for electricity in the coming years.
The NS Government and NS Power have announced that residents should expect at least a 14% rate increase.
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The Benefits of Solar Energy
Investing in solar energy has become a popular choice for many families, businesses, and communities. With the recent rate hike, it’s becoming an even more appealing option. Solar energy provides many benefits, including cost savings, energy independence and environmental sustainability.
One of the biggest benefits of solar energy is cost savings. Solar panels can provide a source of clean, renewable energy that reduces or eliminates the need for electricity from the grid. By producing your own electricity, you can reduce or even eliminate your electricity bill, depending on your energy consumption and the size of your solar system. Over time, the investment in a solar system pays for itself, providing long-term cost savings.
Investing in solar energy also provides energy independence. With a solar system, you are no longer reliant on the traditional energy grid, which can be subject to power outages and price increases. Solar panels provide a reliable source of energy, ensuring that you and your family have access to electricity even in the event of a power outage.
Finally, investing in solar energy provides environmental sustainability. Solar panels produce clean, renewable energy, reducing your carbon footprint and contributing to a greener future. By reducing the demand for fossil fuels, you are helping to reduce greenhouse gas emissions and mitigate the effects of climate change.
Jump Into Solar!
The recent electricity rate hike in Nova Scotia is just another reminder of the importance of investing in alternative sources of energy. Solar energy provides cost savings, energy independence, and environmental sustainability, making it a smart investment for any Nova Scotian. With the cost of electricity expected to rise in the coming years, now is the time to start considering solar energy for your home or business. Whether you’re a homeowner, business owner, or community leader, investing in solar energy is an investment in your future and the future of our planet.