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High Energy Costs From Ukraine War

Quick Read

Read Time 4 Minutes

  • The overseas Russian invasion of Ukraine is leaving high energy costs in its wake everywhere.   
  • Utility Bills have gone up over 50%, pain at the gas pump with rising prices, and grocery costs getting higher.  
  • People wondering when or if this will stop. 
  • A few simple things can help alleviate the high energy costs from Russia’s invasion of Ukraine. 

Full Article

It’s no secret that energy costs are higher due to the Ukraine crisis. As soon as you opened your most recent utility bill, you noticed your costs have gone up.  You dread the moment you pull into the gas station to fill your vehicle.  The progressive increase on your weekly grocery bill is taking a toll on you.  Why is this happening? When will this stop?  More importantly, how can I get this under control?

One of the clear solutions is solar panels for your home.  We’ll explore that option, but also why is this happening, and what can we do about it?

What's Happening?

The news of Ukraine and Russia has left all of us heartbroken and scared.  Additionally,  the “fog of war” and the build up to the actual invasion has put our energy prices in rocket-like trajectory.  

Consequently, the fear and uncertainties around the world are impacting everything we buy and because of this, prices on everything are going up. One reason is because Ukraine has a large pipeline of Natural Gas and there is a worry of supply issues in Europe due to the Russian invasion.  These key factors are affecting current prices.   

As stated in an article in November, New York State Energy Rates to Skyrocket, and then in February, New York Energy Rates Still Surging prices have gone up and are continuing to rise.  

Thus, the situation of high demand for gas versus low supply, along with fear is impacting oil prices.  The barrel of oil trading is at 14 year highs and prices at the pumps have jumped.1 

Basically, the question becomes, if gas is so high, what’s going to happen to other prices like food, clothing, and everything else that needs to use oil for transportation? 

What Can Be Done?

 

It’s pretty clear that we are a solar company.  Our goal is to offer a simple and effective solution to rising costs.  The first step would be to “free” yourself as much as possible from the likes of natural gas, oil, and the utilities. Besides, protecting yourself against rate increases is more valuable today than it ever was because of high energy costs due to the Ukraine crisis.  The demand for solar energy is now higher and more relevant than it ever was.In taking this path, not only do you know what your solar system costs up front, you have a pretty good estimate to how much it will electricity it will make.    

In addition, the electric vehicle (EV) market  has surged recently as well.4  In some cases, ordering one online can be a 5 month wait. Although this can be a great solution as your gasoline costs will decrease, you should keep in mind that your electric will increase from it.  The average electric vehicle is estimated to get 3 miles per kilowatt hour (kWh).  If you drive 12,000 miles per year, expect about a 4,000 kWh increase in your electrical usage. If you use 8,000 kWh per year in electricity, that’s a 50% increase in electrical needs.  

Governor Hochul also has urged utilities to review their billing practices to ensure they aren’t taking advantage of the rate payers.3  As one can assume, there are many people out there who opened their bill, astonished by how high it was, and cannot afford it.  Governor Hochul recently released and highlighted programs that are available to help those who cannot afford their utility bills along with programs to help people become more energy efficient.2

This Russian War with Ukraine has increased all of our energy costs and they seem to continue to rise.6  Is there an end in sight?  Who knows?  The only thing we can do is prepare ourselves.  Make changes that can help reduce costs or even eliminate them.  Adding solar panels to your property will help protect you from rising costs, high fluctuations, and more importantly, ease the wallet.  Also if you go this route, be sure to plan ahead.  If an EV is something you’re seriously considering, plan for that with your solar project.   

Ultimately, is there any reason why you should have to decide between groceries, gas, and your lights because your energy costs are too high?

Take back control of your utility costs now and go solar today! 

David Tagliaferro

David Tagliaferro

David is the Director of Operations and Engineering for Kasselman Solar. With over 10 years experience within the Solar Industry, he prides himself on honesty and delivering well-sourced articles that are both practical and trustworthy. "We are in the middle of an energy revolution where trust and transparency are paramount."