Weekly Tech Article #9 Trends in Energy Costs: Utility Companies Will Raise Rates

Good Evening my Brothers and Sisters of Steemit!

It's time for another addition of my weekly tech articles sharing knowledge of new technologies that I believe will bring abundance for humanity. This week I ran across some interesting information from Jack Rickard and his YouTube channel. He recently built a 100kW mobile battery bank for a customer in Costa Rica using used tesla car battery packs. I highly recommend checking out the video below.

TLDW: In the video he explains how the utility companies have made the assumption that power consumption will continue to grow year after year. This is not the current trend however, the efficiencies of Air conditioning systems and lighting alone have dropped power consumption and it is now on a downtrend and increasing rapidly due to the lower cost of led lighting.

The Utility companies have to pay back money invested for power generation and will need to make their money back somehow. The only option the utility company will have is raising the rates on their customers. See an excerpt from the video below for a visual on the U.S. total electricity consumption.

Sauce

As you can see the total power consumed has stagnated and is now on the decline.

This is mostly due to the improvement in electrical device efficiencies. To stay ahead of the curve on the rise of utility rates, it's never looked better to make the investment in producing your own power.

Thank you for your time if you gave this a read!