PG&E Declares Bankruptcy
Recent news has not been good for PG&E, California’s largest utility company. They were held liable for negligence that caused colossally devastating wildfires in Northern California – to the tune of over $30 billion dollars.
This week, homeowners’ fears came true as PG&E announced plans to file for chapter 11 bankruptcy protection. Electricity may soon become more limited and is certain to become more costly for consumers.
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This marks the second time in less than 20 years the electric company has filed for bankruptcy. Homeowners in California are still paying the drastic rate increases from their last bankruptcy, where homeowners typically saw up to $1600 per year in additional costs. This latest news means soon they will pay much more on monthly electric bills, as utility companies pass costs like these along to consumers.
Don’t Get Stung By Rate Increases – Switch to Solar Power
Luckily, PG&E customers have an option today that wasn’t as prevalent as in 2001. Switching your primary power source to solar energy means lower monthly bills instead of higher.
PG&E has been raising rates on customers for decades, with no signs of slowing down. This bankruptcy announcement means that will only accelerate.
In addition to paying more, customers have faced:
- Decaying infrastructure, leading to breakdowns and outages
- Unpredictable increases in rates and changes in billing models
- High-wind blackouts
…and, of course, bankruptcy. Anyone who invested money in PG&E stock now has junk in their portfolio, according to S&P.
The best solution for homeowner: switch to solar power.
Sungevity understands the challenges well. We’ve dealt with PG&E for a long time and we’ve heard many of the stories of frustration and anxiety from their customers. That’s why we work to help save money and become independent of the massive utility.
With solar power, homeowners get:
- Guaranteed Rate Protection – We offer complete safety from utility rate increases from utility companies for the next 20 years!
- Blackout Protection - Planned or unplanned, blackouts can literally leave families in the dark. This can become quite costly or even life-threatening. But blackouts from utility companies have very little impact on homes powered by solar.
- Free Electricity – Right now, Sungevity offers 12 months of free solar electricity to qualified homeowners. (This is a limited time promotion – if PG&E’s latest bankruptcy announcement wasn’t incentive enough, please take advantage of this promotion before it goes away!)
- Transparency and Support – Our team makes going solar as easy as possible, from handling the paperwork to maintaining the system and taking care of our customers for life.
If you’re a PG&E customer, you need to act fast. The faster you act, the sooner we can get solar installed so you can break away from those looming rate increases. The longer you wait, the longer the line gets, so reach out right away!
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