If you’ve glanced at any financial headlines or economic forecasts lately, you probably weren’t left feeling particularly optimistic. Inflation has continued to surge toward its highest level in more than 30 years, with spiking energy prices leading the way. What’s more, rumbling concerns of a recession have begun emerging, with experts anticipating action from the Federal Reserve in an effort to stave off even higher rates of inflation.
In scenarios like these, the Fed will hike interest rates in an effort to slow business and consumer investments, decreasing demand and causing prices to drop. There’s one big caveat: Moves like these are an imprecise science at best, so an over-adjustment of interest rates could easily happen, slowing the economy too far and sending us into a downturn.
While a recession is far from a certainty - and something we all hope to avoid - economists agree that some pains will likely be felt across the country during the next 12 to 18 months. If you happen to own a business, drive a car, enjoy visiting restaurants, make use of the lightbulbs in your home, and/or find yourself shopping at stores of any kind, you may be in for a bumpy ride. (That’s… all of us. We’re all in for a bumpy ride.)
This level of financial unpredictability stretched over a year or more can make it pretty difficult to plan for the future. While it may not be the most optimistic conversation, we’re not saying this just to make you (more) worried about what’s ahead. In fact, it’s quite the opposite: We’re going to cover some ways you can reduce costs in essential areas and stabilize your expenses regardless of what the coming months have to offer.
Accessing Lower, More Predictable Energy Rates
Boom or bust, rain or shine - you’ll never escape spending money each month on energy. That’s why establishing a more cost-effective way to obtain your power is one of the smartest decisions you can make to set your business up for success in any economic climate.
By bringing a Connected Microgrid to your property, you’ll be taking control of your energy use in an entirely new way. As we’ve said before, leveraging the opportunity to generate solar power right on your own property means you’ll be taking a big step away from a reliance on commercial energy providers and their unpredictable, market-driven prices.
A Connected Microgrid brings solar panels right to your property. By signing a Power Purchase Agreement (PPA) with Catalyst Power, you’ll lock in fixed rates for the energy produced by your Connected Microgrid, ensuring ongoing savings and long-term pricing reliability. Your Connected Microgrid will also be built and operated at no cost to you - very simply, it’ll be all savings and no spending.
Once you make the decision to sign a PPA, you’ll often be able to start accessing energy from your new Connected Microgrid within 6 to 12 months. With current economic forecasts in mind, you’re reading this at just the right time (nice work!) to take the first steps toward insulating your operations against any future volatility the markets may bring.
Another way to access energy savings: Get plugged into a Community Solar project. By connecting to a solar farm in your area, you’ll be supporting a project that consistently adds solar energy to the larger grid. Your participation will be reflected through solar credits on your energy bill, translating directly into reliable savings every month.
Regardless of which option you choose, making a move toward solar power will guarantee a reduction in your energy costs and bring reliability to your monthly spending. By turning to renewable energy sources, you’ll also be doing your part to reduce demand on the traditional grid and lower overall power prices.
Recent years have brought business owners more than a few challenges, and there may be more economic uncertainties ahead. Fortunately, turning to renewable energy can ensure you know what costs to expect, regardless of how the markets are behaving on any given day. Plus, you’ll be spending less with lower energy prices from the very first day.
Guaranteed savings in an unpredictable economy? That’s a strategy you can rely on to keep your future looking bright.
