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As the summer approaches, homeowners across the United States are preparing for the inevitable rise in 2024 summer electricity prices. The increased demand for air conditioning during the sweltering summer months often leads to higher utility bills.
At Concord Window Film, we believe in offering solutions that not only enhance the comfort of your home but also help you save money. In this blog post, we will explore the trends in 2024 summer electricity prices and explain how window film can be your best ally in keeping those costs down.
Every summer, electricity prices tend to spike due to the higher demand for cooling. In 2024, experts predict an even steeper increase. Factors contributing to the rise in 2024 summer electricity prices include:
As temperatures soar, the need for air conditioning becomes paramount. This heightened energy consumption puts a strain on power grids, leading to higher electricity prices.
Electricity prices have soared in recent years and are not forecasted to come down any time soon.
Source: U.S. Energy Information Administration
According to the U.S. Energy Information Administration (EIA), electricity demand is expected to grow by 2% in the summer of 2024 compared to the previous year.
They also note from the most recent Residential Energy Consumption Survey that 90% of U.S. households use air conditioning during the year. Of course, the biggest users are households in the hotter regions of the U.S..
Source: U.S. Energy Information Administration (EIA) Residential Energy Consumption Survey
Aging electricity grid infrastructure is compounding the rise in electricity consumption. Many parts of the United States are dealing with aging energy infrastructure that struggles to meet the growing demand.
According to a recent article in Fortune Magazine, “Most of the grid’s central infrastructure—the actual wires and electrical transformers that move electricity from point A to point B—is half a century old, and wholly unequipped to handle what’s shaping up to be a generational surge in power demand.”
Upgrading these systems requires significant investment, costs that are often passed down to consumers in the form of higher electricity rates.
Climate change has led to more extreme weather patterns, including hotter summers. This trend is likely to continue, making air conditioning a necessity rather than a luxury. As a result, utility companies are forced to increase prices to manage the demand.
And experts are predicting a very hot summer for 2024. Meteorologists at AccuWeather are forecasting temperatures to run at least 2 degrees higher than historical averages across most of the country.
Source: AccuWeather
While rising 2024 summer electricity prices may seem unavoidable, there are effective measures homeowners can take to mitigate these costs. One of the most efficient solutions is the installation of window film.
Here’s how window film can help you combat summer 2024 electricity prices:
Window film significantly reduces the amount of heat that enters your home. Our solar control ceramic window film, for example, can block up to 82% of the sun’s heat, keeping your interiors cooler.
Window films improve the overall energy efficiency of your home. By minimizing heat gain in the summer they create a more consistent indoor temperature. This means your air conditioning system doesn’t have to work as hard, leading to lower energy consumption and, consequently, lower electricity bills.
Apart from energy savings, window films also protect your home’s interiors from harmful UV rays. This protection prevents your furniture, flooring, and décor from fading, extending their lifespan and maintaining your home’s aesthetic appeal.
All Concord Window Films products block 99% of harmful UV rays in the 300-380nm spectrum when applied to glass.
Compared to other energy-saving home improvements, window film installation is relatively affordable and less invasive. It requires no major renovations or modifications to your home, making it a quick and effective solution to high electricity bills.
It is definitely more cost-effective to upgrade your windows with film than replace them with new ones.
Plus installing the film yourself helps you save money on installation costs.
The benefits of window film are not just theoretical. Many homeowners have experienced tangible savings on their electricity bills after installing window film. For instance, a study by the International Window Film Association (IWFA) found that homeowners could save up to 30% on cooling costs during the summer months by using window film.
That’s why the U.S. Department of Energy considers window film an energy-efficient window covering. And the majority of commercial buildings in the United States utilize window film to control HVAC costs.
The best way to lower your AC costs is to purchase the window film with the highest solar control. For window film, solar control is measured by Total Solar Energy Rejected or TSER and Solar Heat Gain Coefficient or SHGC.
Total Solar Energy Rejected is the percentage of incident solar energy rejected by a glazing system which is equal to solar reflectance plus the part of solar absorption which is re-radiated outward. Read more about TSER here.
SHGC is the sum of incident solar energy that is transmitted inside through the glazing system. It includes solar energy directly transmitted and the part of absorbed solar energy that is released inwards. SHGC is the fraction of incident solar radiation that actually enters the building through window glass. SHGC is expressed as a number between 0 and 1. The lower a window’s solar heat gain coefficient, the less solar heat it transmits. Read more about SHGC here.
Concord Window Film’s ComforTech™ Ceramic Series is our flagship film for homes and commercial buildings. ComforTech™ is a solar control film that comes in five shades from light to dark: 45, 35, 25, 15 and 05. When choosing a film, in general, the darker the film you choose, the better the solar control and, therefore, energy efficiency you will achieve.
As we brace for the summer of 2024 and the anticipated rise in electricity prices, it’s crucial to take proactive steps to manage energy consumption.
Window film is a practical, cost-effective solution that can help you maintain a comfortable home environment while keeping your utility bills in check. Concord Window Film offers a range of high-quality window films to meet your specific needs.
Don’t let the summer heat burn a hole in your pocket. Invest in window film today and enjoy a cooler, more energy-efficient home all year round.
For more information on our products and how they can help you save on your electricity bills, visit our website or contact us today. Let Concord Window Film be your partner in energy savings this summer – contact us to choose the right film for you.
