What a 15-Minute Call With a Solar Expert Taught Me About Energy Costs in Portland
What a 15-Minute Call With a Solar Expert Taught Me About Energy Costs in Portland
I recently had a quick 15-minute call with Spencer over at Elemental Energy, and honestly, it was one of those conversations that leaves you with a lot to think about.
If you've been on the fence about solar — or just curious what's actually happening with energy costs right now — here's the download.
PGE Rates Are Going Up. That's Not Changing.
This year, PGE rates only increased about 1%. That sounds like good news, but Spencer put it in context: public sentiment toward utilities is low right now, and there's been significant pushback that slowed the increase. Zoom out a little and the picture looks different — rates went up 19% in 2023, and over the last five years, they've gone up 50%. That trajectory isn't reversing anytime soon.
Solar Rates Dipped — But May Not Stay There
Solar financing rates recently dropped from 8% to 7%, which is a meaningful improvement for buyers. The catch? With recent geopolitical tensions, there's a real possibility those rates nudge back up — similar to what we're seeing in real estate, where mortgage rates climbed from just under 6% back up to around 6.5%. Timing matters.
What Makes Elemental Energy Different
Spencer educated me. Elemental Energy is primarily a referral-based business, and they also work closely with Energy Trust of Oregon to connect with homeowners who are ready to explore their options. They're a no-knock company. No door-to-door pressure.
When I asked what their biggest differentiator was, the answer surprised me: the two owners are engineers. This isn't a sales-first organization — it's a systems-first one. They care deeply about how the install actually performs long-term, which is why they back their work with a 25-year equipment warranty and a 10-year installation warranty.
What About Balcony Solar?
I've been seeing this pop up on social media and had to ask. Spencer explained that the complexity there comes down to grid back-feeding — when you have rooftop solar, there's a contract in place with the utility that governs how excess energy flows back to the grid. Balcony setups don't have that infrastructure figured out yet, so requirements are still a moving target. Something to watch.
Curious About Solar?
I'm not a solar expert — but I know one. If you have questions, reach out to me directly, or better yet:
📖 Check out the Elemental Energy blog: elementalenergy.net/blog 📞 Book a free consultation with Spencer: elementalenergy.net/consultant/spencer
UPDATE from Spencer:
Just an FYI, I looked back at same historical data and articles. It seems I misspoke, the rate increase was in 2024. It was announced in 2023. And it was just a smidge less at 18% per this article: https://www.kptv.com/
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