Do you live in one of the 15 states where energy is now deregulated? Then we have good news. You could be saving as much as 20 percent on your total electricity costs by switching to a different energy supplier. While it may be a bit overwhelming to think about switching from the usual energy provider that you have been with for years, making the
switch is actually very simple, and there are more people doing it than you think.
One way to ensure that switching providers will save you even more money each month is by switching from an electric company to a solar energy company such as SolarCity.
All You Need to Know About SolarCity
SolarCity is a company that is based in San Mateo, CA. It provides a variety of energy services to local customers, including designing, financing, and the installation of new solar
power systems for residential homes and commercial businesses.
The current CEO and chairman of SolarCity is Elon Musk, who is known for starting the aerospace company SpaceX and Tesla Motors. Musk is currently the largest SolarCity shareholder. He owns 22 percent of the company, which is actually run by his cousin, Lyndon Rive.
Although the company’s shares have dropped as much as 60 percent this year, SolarCity is continuing to focus less on their installation growth and more on creating loan programs for
homeowners who are interested in making the switch to solar panels.
Musk’s electric car company Tesla Motors recently purchased SolarCity for $2.6 billion. The two companies have joined together in hopes of improving their battery and solar energy
operations. Musk hopes that in the future, SolarCity will be able to reveal a ‘Solar Roof” and plans to take Tesla/SolarCity into the roofing business. The entire roof would be solar powered instead of having smaller solar panels.
How to Choose the Right Energy Supplier
Switching from our electric company over to SolarCity may sound like an innovative and money-saving opportunity, but is it really the best move for you? Here are a few things to keep in mind and ask yourself when it is time to choose a new energy supplier. Doing so will help you make the best possible decision for you, your family, and your budget.
When choosing an energy supplier, there are three important factors that you will want to look at the most. Those are the supplier’s reputation, their rate, and their length of their plan.
The Supplier’s Reputation
There are many energy suppliers out there for you to choose from, and it can be a difficult decision to choose the right one. That is especially true since many of today’s energy providers are engaging in deceptive marketing schemes to get more customers.
They may offer you a low rate at first and then they will make the rate go up within the following months, or they will disclose information regarding a fee or additional charges. Since energy deregulation is still in its early stages, there have been many shady people taking advantage of this new opportunity and trying to trick consumers into one of their schemes.
Therefore, when choosing a new energy provider, you need to check their reputation and go with one that other people in your community have trusted. Read up on their reviews online and ask if they have any references that you can get in touch with.
Do everything you can to find out more information on the company before you make a final decision. Since there are many new energy providers around, it can be hard to find one that has managed to build up a solid reputation. But if you are able to do so, you should definitely consider going with an energy supplier who already has several satisfied customers that rely on them.
Learn All That You Can About Their Rates
The next thing that you will need to take into consideration is the energy supplier’s rates. You will also need to decide if you want to go with a variable rate or a fixed rate.
Fixed Rate Plan
When you choose a fixed rate, you will always pay the same price for every kilowatt hour that is used throughout the life of your plan. This is usually a better plan option if you use a lot of energy during the peak hours. When you have this type of rate plan, you will have a stable bill that you will be able to predict each month. This makes it easier for you to budget your monthly costs no matter how much you have used your electricity throughout the month. And because your energy rate is locked in, you will be protected if there is an increase in energy due to hot or cold weather.
Variable Rate Plan
When you have a variable rate, your rate per kilowatt hour will change every month based on the market price. While it is possible that you will pay more if your energy prices go up, you could also end up paying much less if the prices go down. You can also save by choosing a variable plan if you use less energy throughout the peak hours. Large commercial customers who operate a business will usually choose a variable rate plan because it helps to save them money over time. It also allows them to schedule when to use the highest amount of energy during the time of day when rates are at their lowest.
Deciding on the Plan Length
The final factor that you will need to consider when it comes to choosing an energy supplier is the plan length. It can be difficult to choose between a 6, 12 and 24-month plan. And it
doesn’t matter if you choose a short or a long term plan – you may still be putting yourself at risk.
Every time you sign up for a fixed rate plan with an energy provider, you agree to pay whatever the current rate is for that entire length of that agreement period. If the prices have gone down then it would be in your best interest to go with a longer plan. However
if the market prices are up higher than they usually are, you will want to go with a much shorter plan in hopes that the market rates will change before it is time to choose another plan period.
What Do Customers Have to Say About SolarCity?
Many homeowners have wondered if it is worth making the switch to SolarCity. While solar panels seem to be much more affordable that electricity costs, there are a few concerns that people have that have prevented them from making the switch.
One of the main issues that many homeowners have with SolarCity is the warranty for the solar panels. Solar panels require routine maintenance and will often have a warranty that lasts between 20 to 25 years. Understanding the warranty period and all that comes along with it is an important part of having solar panels installed.
For some, a 25-year warranty for all of their solar panel systems is part of SolarCity’s appeal. That is probably the best warranty period that you can get from any solar panel
provider. But do they always back up their warranty terms?
The Top Complaints About SolarCity
Unfortunately, one of the main complaints that we have seen regarding SolarCity is their lack of customer service and support. While most fast-growing companies go through their issues and criticism regarding their customer support teams, it seems to be an ongoing
issue with the solar energy provider.
With a new company, it can obviously be difficult for customer service representatives to know everything that is going on with the company in such as short time. But that is a great
disadvantage when a customer calls in wanting information about their solar panel warranty and are unable to receive a straight answer.
Another complaint that is common with SolarCity is that their salesmen want to pressure you into making the switch to their company. They have been described as pushy or relentless, and sometimes even harassing. Many potential customers have complained about the multiple phone calls that they received from the company which only made many of those homeowners to want to take their business elsewhere.
Is SolarCity the Right Energy Supplier for You and Your Family?
It is impossible for a brand new company to build up a good reputation overnight. But you can read up on customer reviews to learn more about an unknown company, which will help you make a better overall decision for your family and your budget.
SolarCity is an up-and-coming company that has a lot of good things going for it. We can all hope that their merger with Tesla can only mean good things for their brand as well as for the solar panel and solar energy industries as well. If you are interested in making the
switch to solar energy for your residential home or commercial business, it would be in your best interest to get in touch with a SolarCity representative today.