These costs can and regularly do increase because there is limited price security in fossil fuels. Their price is both volatile and ever-increasing; their price rises as the cost of extraction goes up, as geopolitics change, and they become more scarce. Because most of our electricity comes from the burning of fossil fuels, as they become more expensive, electricity rates in Rhode Island go up. If you depend 100% upon the electric utility for your electricity needs, then your electricity bill is going to continue to increase.
In our analyses, we estimate that electricity costs increase by about 3.0% per year. Many energy experts agree that this is a conservative estimate; over the last 10 years, electricity costs have gone up about 5% per year.
With Rhode Island having one of the highest costs of electricity in the US, producing your electricity using the abundant and free power of the sun is a powerful investment that will keep your electricity bill low and stable.