3 Great Alternative Energy Sources for Your Home

If you haven't heard, deregulated energy markets are currently sweeping the nation, affording homeowners and businesses the option to choose how they get their power and where it comes from. The deregulation of electricity markets has eliminated the monopoly of municipal entities, giving you more freedom than ever when it comes to your power suppliers. 

The average American home currently used 903 kilowatt hours per month, which results in a bill of $107. You can drastically reduce these monthly  costs by switching to alternative energy sources that both save you money as well as reduce your environmental footprint. Here are three of the best alternative energy sources that you should be considering for your home or business: 

• Solar power. U.S. electricity use in 2013 was a whopping 13 times greater than it was in 1950, and the introduction of solar energy is one of the major reasons that statistic is falling by the year. Alternative electricity companies that offer solar power now have the means to provide affordable solar panels for both homes and businesses due to the decreased costs of the materials used to create them. Since the market was deregulated, you can now even finance or lease solar panels. There has never been a better time to invest in this revolutionary technology. 

• Wind power. One of the oldest and most trusted alternative energy sources on the planet, wind power is making a major comeback since deregulated energy markets began to surface. If you live on at least one acre of land with strong wind resources, you absolutely must consider the benefits of wind power for your home. Conservation groups across the nation continue to support initiatives that lower the cost of wind power systems, and you can save about 90% on your monthly bills once your system is correctly installed. 

• Hydropower. Many homes and businesses are already located in an area that supports hydropower, and the recent deregulation of electricity has now made it possible to utilize this natural resource. One of the largest sources of hydropower in the U.S., the Hoover Dam, is a perfect example of just how inexpensive this technology is. The electricity generated from the Hoover Dam sells as a wholesale price of just 1.6 cents per kilowatt hour, which is exponentially cheaper than most other energy sources. As an added bonus, hydropower is naturally-produced and has almost zero effect on the environment.

Get in touch with alternative electricity suppliers in your area to see what types of alternative energy sources are available for your home or business. The way electricity is used in the U.S. will continue to evolve with each passing year, and you can be one of the first to take advantage of these breakthrough technologies.

What You Should Know About Your Energy Options

Electricity deregulation is a powerful concept that allows consumers to buy their energy from alternative electricity suppliers and still have their power delivered through the regular utility company. More and more areas have deregulated their electrical energy markets in the past two decades (primarily in the Northeast, Mid-Atlantic and Texas), and some states have partial or suspended deregulation (such as California). One of the most powerful arguments for deregulation is that energy rates in many deregulated markets have fallen significantly more than rates in regulated markets since 2008. A benefit consumers get from a deregulated system is that they can choose suppliers that share their values in terms of green electricity generation. But in order to make good choices, it’s important to know what the major sources of electricity in the United States are. Here’s a simple summary of some of the most important players: Coal PowerA significant amount of power generation in the U.S. comes from the burning of coal; as of 2013, coal made up about 39% of the country’s electricity production, and 90% of domestically mined coal is purchased by utility companies for this purpose. However, there are numerous environmental concerns regarding coal, and the Environmental Protection Agency has placed restrictions on coal plants due to their carbon emissions and mercury pollution. Nuclear PowerAs of 2013, nuclear power plants generated 19.4% of the country’s electricity, and the U.S. is the largest supplier of commercial nuclear power worldwide. The environmental impact of nuclear energy is generally considered to be mixed; nuclear power plants are low in emissions, but nuclear waste can cause serious problems if not properly disposed of. Wind PowerWind power accounts for a much smaller portion of the current energy market, but is rapidly growing. In the year preceding August 2014, wind energy made up 4.33% of generated electrical energy. The greatest upside of wind-generated electricity, of course, is that wind is a renewable energy source. The only major environmental concern associated with it is unintentional bird and bat deaths caused by wind turbines. Solar PowerSome homeowners may be embracing solar panels on their properties, but the implementation of utility-scale solar power is much lower in profile. In the year leading up to October 2014, only 0.43% of the country’s energy was produced in utility-scale solar power plants. How would you prefer to have your power produced? Share your thoughts on these energy options in the comments.

New Study Finds Customers Prefer Deregulated Energy Markets

According to EnergyManagerToday.com, the study, which was released on March 2nd, found that consumers in deregulated energy environments are significantly more engaged, and ultimately more satisfied, with their energy suppliers. One of the recurring themes was that electricity and energy suppliers in deregulated market “had a far better reputation than those in regulated markets.” 

In a study that surveyed over 1,000 U.S. utility ratepayers, about 68% of those in deregulated markets said they were satisfied with their providers, compared to just 51% in regulated markets. 

Similarly, if predictability and consistency are important to you, then deregulation is right for you, too. Approximately 62% of consumers whose energy suppliers competed in a deregulated environment knew exactly how much their electricity cost last month. 54% of consumers in regulated markets could say the same. 

Finally, if that isn't proof enough for you, one look at the reputation of these kinds of companies is really all you need to know. The majority of deregulated market consumers (62%) thought their supplier had a good reputation. Consumers in regulated markets were not so thrilled, as only 42% said the same about their energy suppliers. 

It's easy for people to tune out, calls for competition and free market policies as industry propaganda, but when you look at the numbers, it's clear that the people actually experiencing this kind of choice are saying the exact same things. 

The deregulation of electricity markets began in the 1970s and today, many states have accepted the idea, along with the deregulation of power companies too. The rising demand for these resources is one of the primary factors behind these recent trends. In fact, electricity use was more than 13 times greater in 2013 than in 1950. The industry has been forced to innovate as a result. According to the Edison Electric Institute, the cost of generating electrons currently accounts for less than half of the price of electricity, compared to accounting for two-thirds of that cost in 1995.