How to Reduce Your Electric Bills in Excelsior EM&C Power

As a resident of Excelsior, Minnesota, understanding how your electric bills work is essential to making informed decisions about your energy consumption. In this article, we'll explore two ways to reduce your bills: by either fixed or variable charges.

Fixed charges, such as monthly customer charges, remain the same from month to month, while variable charges, like the cost per kilowatt-hour (kWh) you use, change based on your consumption. These costs are rolled into both fixed and variable charges, making it crucial to understand how they impact your bill.

The average monthly electric bill for residential customers in Excelsior is $133, calculated by multiplying average monthly consumption (831 kWh) by the average electric rate (16 ¢/kWh). Your electric bills cover all costs associated with producing electricity, maintaining the grid, and supporting public benefit funds that promote renewable energy and energy efficiency.

To put it simply, your monthly bill is a product of how much electricity you use per month and your electric rate. Understanding this relationship can help you make informed decisions about reducing your energy consumption and saving money on your bills.

One way to reduce your bills is by installing solar panels. Over the lifetime of your system, you'll save more by financing your solar panel system with a cash purchase, although you won't start seeing savings in year one. According to our calculations, you can expect to save $8,400 over five years, $17,700 over 10 years, and $39,600 over 20 years on electric bills in Excelsior.

You can also expect to save $1,600 in the first year alone by offsetting 100% of your electric bill with solar. Assuming an annual increase of 2.2% in electricity prices and a $0-down loan, you'll see significant savings over time.

On the EnergySage Marketplace, solar shoppers in Excelsior pay an average of $18,000 for a 7.2 kW solar panel system prior to installation. The amount you can save with solar depends on two factors: how much you spend on electricity now and how much of your bill you can offset with solar.

Based on the intensity and amount of sunlight hours in Excelsior, we recommend a 7.2 kilowatt (kW) solar panel system to offset 100% of your annual electricity consumption (9,972 kWh per year). By installing solar panels, you'll save money by reducing or eliminating your monthly electric bill.

In conclusion, understanding how your electric bills work and exploring ways to reduce them can help you save money and make informed decisions about your energy consumption. Whether you choose to offset 100% of your bill with solar or explore other options, our experts at Excelsior EM&C Power are here to guide you every step of the way. Contact us today to learn more about how we can help you reduce your electric bills in Excelsior, MN!

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