The Full House During Covid
The full house in a post-pandemic 2020 is fuller than it has ever been before. Not since the Great Depression have families seen more of their children moving back home. In face, according to a recent Pew Research survey, 52% of 18-29 year-olds in the US are living with at least one parent.
Seven in 10 seniors graduate in the red, owing about $30,000 per borrower, according to the Institute for College Access & Success. Broke kids are not usually the first ones to offer or pay rent to their parents. Young adults who were already in the workforce are more like to have lost their job during the pandemic or have taken a pay cut. In the short time of the pandemic, the share of young adults from 16 to 24 years old that are neither employed or enrolled in school has doubled.
The Cost to Power the Full House
Young adults are not just moving back home. Global Workplace Analytics estimates that 25%-30% of the workforce will be working-from-home multiple days a week by the end of 2021. With an additional 8-10 hours of adults at home working, a family will create more power than ever before. The biggest two energy hogs in a home are Air Conditioning and Hot Water. Think about two or more adults working full time at home. More Air Conditioning and more Hot Water. Add in more lights, more energy from electronic devices, more TV and the power bill will be more money than ever before.
Recent data from the Clean Energy Technology firm Arcadia shows that one-third of US Households will likely see power bills climb 10%-15% higher this summer. Consumers in Metro areas will see the most increases. With mounting electricity costs, there are things that consumers can do to reduce the costs, starting with Solar Energy. Going solar will not only let you create your own clean green energy, the costs to install residential Solar is at the lowest in history.
Solar Power to Save
Solar Power is generated by a home and not a utility company that can force fee and consumption increases on a regular basis. A solar loan stays the same for the time of the loan. Electricity costs will certainly not stay the same for the next five, ten or even twenty years. Residential electricity prices have risen consistently in the past ten years. According to the Energy Information Administration, residential electricity rates have increased nationally by around 15% in the last 10 years.
Go Solar Power will analyze the power that is consumed for a family to see real time savings from day one. There is never money down required and Solar loans are as low as 1.49% for a twenty year loan. There is no pre-payment penalty. Special offers can add up to twelve months of no payments to the existing no payment bonuses.
When you buy a Solar System from Go Solar Power (either with cash or a solar loan), your electricity bill will be greatly reduced or completely eliminated (except for minimum connection charge) soon after the system is connected to the grid. These monthly savings will eventually ‘pay off’ the original cost of the system. The typical payback period for a solar system in the US is in the range of 5-8 years. Fluctuations in your utility’s electricity rates will not affect this by much, and once the system is paid off, the electricity it produces is basically ‘free’. As the sun will now do all the work.
Millions of Americans are being impacted by the additional costs of a full house. Invest the time and speak to a Go Solar Power specialist. Create a game plan that will see thousands of dollars in savings over the lifetime of a Go Solar Power System.