Don’t Expect Relief Any Time Soon In the Cost of Your Electricity

Electric Bills Will Continue to Rise You heard it here: Your electricity bills will continue to increase. But don’t take our word for it. The electricity industry “experts” have spoken. At least 90% of them attest to higher energy costs, with half of that 90% indicating that bills will rise “significantly.” The term “significantly” refers to a ballpark of around 10%, fyi.

But why oh why, you must surely be asking? Well, the answer is bittersweet. There is mounting pressure to decrease our reliance on fossil fuels, in favor of renewable energy that is more environmentally-conscious, such as hydropower, solar, wind, etc. That’s a bit of a no-brainer. We absolutely need to take strides to improve industry practices so as not to continue to destroy our environment. We don’t want our kids to end up playing in a wasteland. With renewable resources, unfortunately, come higher costs for production in the short to medium term, as renewable energy is less common, the technology is newer, and the infrastructure has not yet been built up adequately. These innovations take time and money, but they will offer critical benefits for our planet over the long term.

Paying the Piper

It may be difficult to look that far ahead and see the positives of such a scenario, though there may be other, more tangible benefits that arise in the short term. Ideally, the rising costs of energy will be offset by lower healthcare costs related to asthma, cancer, and heart disease, etc. — the likely byproducts of fossil fuel consumption. We’ll not only feel better physically, but also mentally and emotionally, knowing that we are taking the proper steps to tend to our environment and secure a future for generations to come. Evidently, being responsible comes with a price, though it will never be greater than the environmental costs of continuing down the path we’re currently on.

Source: CNN Money

Alexa Hughes is blogger extraordinaire for Power2Switch, a comparison-shopping site for consumers seeking lower electric rates, based out of Chicago. You can find Alexa on Twitter.

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