Tips for Choosing a Commercial Electricity Rate

December 21, 2022

Shopping for commercial electricity rates can be a daunting task, but it is an important part of managing a business’s finances. Here are a few things to consider when comparing rates:

Tariff structure: Electricity rates can vary depending on the type of tariff structure that is used. Some common types of tariffs include fixed rate, variable rate, and time-of-use tariffs. It is important to understand the differences between these types of tariffs and how they may impact your business’s electricity costs.
Contract length: Commercial electricity contracts typically range from one to three years in length. It is important to consider the length of the contract and whether it aligns with your business’s needs. A shorter contract may offer more flexibility, but a longer contract may offer more stable rates.
Usage patterns: The amount of electricity that your business uses can have a significant impact on your rates. Be sure to consider your business’s usage patterns, such as peak and off-peak hours, when shopping for rates.
Renewable energy options: Many businesses are looking for ways to reduce their carbon footprint and support renewable energy sources. If this is a priority for your business, be sure to consider electricity providers that offer renewable energy options.
Customer service: It is important to consider the level of customer service that an electricity provider offers. Look for providers that have a good track record of responding to customer inquiries and addressing any issues that may arise.

By considering these factors, you can find an electricity rate that meets the needs of your business and helps to control costs. Don’t be afraid to ask questions and do your research to ensure that you are getting the best deal possible.

From Soil to Sales: Starting and Growing a Profitable Small Farm

June 30, 2025

Image: Freepik

Starting a small farm can feel like both a bold dream and a risky leap, especially if you’re trading the hum of the city for the hum of insects and early mornings. But with clear steps, grounded expectations, and a real strategy, it’s more than possible to transform a patch of land into a thriving, profitable business. This isn’t just about planting seeds and hoping something grows—it’s about building a business that happens to be rooted in the earth. If you’re serious about getting your hands dirty and turning that passion into profit, there’s a path forward that starts with smart planning and ends with harvest season feeling like payday.

Start With a Real Plan

Most folks are eager to get their boots in the dirt, but without a solid plan, a farm is just a very expensive backyard. Before you plant a single thing, get clear on what kind of farm you want to run—produce, livestock, dairy, specialty crops, or a mix. You’ll need to look at local markets, zoning laws, startup costs, and what skills you bring to the table versus what you’ll need to learn. A solid business plan doesn’t just keep you focused—it makes it easier to get financing, build partnerships, and avoid costly surprises.

Choose the Right Land With Purpose

Your land will make or break your farm’s potential, so don’t rush this step. Think beyond just fertile soil—look at access to water, how close you are to markets or delivery routes, the lay of the land, and the local climate’s quirks. If you’re not buying outright and are leasing instead, make sure you have long-term security to protect your investment. And don’t overlook the unseen stuff—get soil tested, double-check water rights, and walk the land enough times that you understand how it breathes across seasons.

Grow What the Market Wants, Not Just What You Like

There’s a big difference between growing your favorite crops and growing what people will actually buy. You might love heirloom tomatoes, but if the local restaurants are clamoring for microgreens or pastured eggs, you’ll need to pivot to meet demand. Do the legwork and talk to local chefs, grocers, co-ops, and farmers market vendors to get a pulse on what’s in demand and where there are gaps. That early research can make the difference between overgrown zucchini and consistent cash flow.

Sharpen Your Business Smarts with an Online Degree

Farming may start in the soil, but turning it into a profitable operation takes real business savvy. Taking the time to earn an online business degree can deepen your understanding of marketing, finance, and strategy. A business management degree in particular helps you build practical skills in leadership, operations, and project management that directly apply to the daily grind of farming life. And with flexible online degree programs, you can keep your full-time responsibilities on the farm while still making steady progress toward your education—go here for further details.

Diversify Your Revenue Streams

One crop, one income stream—that’s a risky way to live. The most successful small farms usually don’t just rely on one thing. You can sell at local farmers markets, do community-supported agriculture (CSA) subscriptions, host workshops, raise animals, or rent part of your space for events. Think like a small business, not a hobbyist—when one thing underperforms, the others help carry the weight and keep things steady.

Get the Right Equipment Without Breaking the Bank

It’s easy to go overboard buying gear, especially with how tempting shiny new equipment can be. Start small, borrow what you can, and buy used when it makes sense. There are farm co-ops, loan programs, and even neighbors willing to share equipment in many rural areas if you’re willing to ask. Grow your tool collection as your farm grows, and focus on items that make the biggest dent in labor first—like a good tiller or walk-behind tractor.

Cut Energy Costs Early and Often

Running a farm isn’t just about feed, seed, and labor—utilities can eat into your profits fast if you’re not careful. Whether it’s greenhouse heating, irrigation pumps, or cold storage, these systems need power, and the bill adds up quickly. Take a hard look at solar options, off-peak usage plans, and energy-efficient upgrades that pay for themselves over time. You can also visit Firewheel Power to compare electricity rates and make sure you’re not overspending before your harvest even hits the truck.

Make It About Community, Not Just Commerce

If you want your farm to last, make yourself part of the local ecosystem—not just the agricultural one. Offer school tours, collaborate with local food banks, or invite neighbors to pick their own produce during surplus weeks. People are more likely to support a farm when they feel like they know the farmer. Building those relationships creates loyalty, spreads word-of-mouth, and makes your farm feel less like a business and more like a vital piece of the community.

Stay Flexible and Keep Learning

Nature doesn’t care about your plans—and neither does the market—so the ability to adapt is what separates the dreamers from the doers. Weather shifts, pest outbreaks, market changes, and supply hiccups are going to happen, so don’t panic—pivot. Take workshops, talk to other farmers, and stay plugged into the wider conversation around agriculture and food trends. The most profitable small farms aren’t the ones that never hit a bump; they’re the ones that don’t break stride when they do.

Starting a small farm isn’t a shortcut to peace and quiet—it’s a full-on hustle that comes with mud, mistakes, and moments of magic. But with the right steps, a grounded strategy, and a bit of grit, you can grow more than just crops—you can grow a sustainable, thriving business. From choosing the right crops to keeping energy costs low, every decision shapes your path from fresh dirt to financial success. And once you find your rhythm, there’s nothing quite like watching your hard work come to life under an open sky.

Discover budget-friendly energy rates and make the switch to savings with Firewheel Power today!

Foundations of Green Building: From Startup to Growth

July 23, 2024

Image: Freepik

Starting a green building business presents a golden opportunity to impact environmental sustainability positively and capitalize on an expanding sector. By adopting eco-friendly construction practices, your business can cater to the increasing demand for sustainable buildings. This guide provides essential steps and strategies to help you successfully launch and expand your green building venture. Dive into the world of green construction and set your business up for a prosperous and sustainable future.

Research and Find Your Niche

To successfully navigate the green building industry, thorough research is essential. Delve into current trends, market demands, and technological advancements to stay ahead. Identify high-demand areas such as residential green buildings, commercial eco-friendly spaces, or green renovations. Select a niche that not only showcases your expertise but also ignites your passion, enabling you to offer specialized and tailored services. This strategic focus allows you to stand out, catering to specific market needs with precision. By positioning your business in a well-defined niche, you enhance your ability to attract targeted clients and projects.

Partner with Suppliers of Sustainable Building Materials

Constructing a robust network of dependable suppliers is crucial for sustained success. Forge partnerships with local suppliers who focus on sustainable building materials to support community businesses and minimize the environmental impact of transportation. These alliances are vital for ensuring a consistent supply of eco-friendly materials. By prioritizing sustainability in your supply chain, you can attract clients who are conscious of their environmental footprint. Establishing long-term relationships with these suppliers enhances your business’s stability and reputation in the market as a committed advocate of sustainability.

Enhance Your Business Skills Through Education

Pursuing further education by going back to school can significantly sharpen your business acumen, essential for thriving in the green building industry. Earning a business degree teaches crucial skills in areas like accounting, communications, and management. Thanks to the flexibility of online degree programs, you can continue working full-time while expanding your knowledge. Increasing expertise from business degrees equips business owners with the tools and confidence needed to manage the complexities of their business effectively.

Develop a Green Building Retrofit Program

Expanding into retrofitting services offers a lucrative avenue by making existing buildings more energy-efficient. Create a program that evaluates buildings’ current energy usage and outlines improvements such as enhanced insulation, energy-efficient windows, and smart technology integration. By offering retrofitting services, you can appeal to clients eager to lower their energy costs and environmental impact. This move not only attracts a new client segment but also cements your position as a forward-thinking leader in sustainable building practices.

Seek Government Grants and Incentives

Many governments offer grants and incentives to promote green building practices. Research available programs and apply for relevant grants. These can provide financial support for your projects and make sustainable building more affordable for your clients. Staying informed about new incentives and regulations can give you a competitive edge. It also demonstrates your commitment to environmental sustainability, which can attract more clients and partners to your business.

Starting and growing a green building business requires dedication, knowledge, and strategic planning. By researching the industry, partnering with local suppliers, enhancing your business skills with a degree, developing retrofit programs, offering diverse green services, and seeking government incentives, you can establish a successful and sustainable enterprise. Embrace the opportunity to make a positive impact on the environment while building a thriving business. Your commitment to green building will not only benefit your clients but also contribute to a more sustainable future for all.

Unlock the best energy rates with Firewheel Power! Enter your zip code now to compare top electricity and natural gas offers and start saving today.

All You Need To Know About Starting A Successful Home Services Business

June 1, 2023

Image Source: Pexels

The home services industry is worth a whopping $506 billion, according to research by Angi. Even during the pandemic, when business closures were frequent in most industries, the home services industry stayed strong, as homeowners chose to focus on improving their properties either themselves or by hiring experts. For you to be successful in the home services industry, not only will you need to find the right idea, but market it well and provide customers with better service than competitors. In this article by Firewheel Power, we’ll explore a host of useful strategies you can use to start and run a profitable home services business.

Find The Right Business Idea

As with any business, your first step will be to hone in on the best idea that you’ll be able to sustain for the long term and make a profit doing so. Here are some popular home services business ideas:

Landscaping: This will entail providing the gamut of landscaping and gardening services such as mowing lawns, planting shrubs, trees, and flowers, and helping homeowners keep their outdoor spaces clean and aesthetic.

Home Organization: While everyone wants a clean home, some homeowners prefer to pay others to keep it clean and organized for them. As a home organizer, your responsibility will be to help clients declutter their homes and create an organization plan for their belongings.

Handyman Services: The most popular category in this niche, handyman services can include plumbing, carpentry, welding, and a host of other services. If you’re interested in this idea, but lack the expertise and understanding to conduct repairs, consider enrolling in a trade school to earn a degree and hands-on experience.

Create A Sound Business Plan

A business plan serves as the founding document for your business, according to Info Entrepreneurs. It will include details on all the core components of your home services business such as:

Customer Profile: Based on market research, you’ll create your ideal customer profile which explores the needs, wants, and expectations of clients you plan to cater to. With your customer profile in hand, you’ll be able to better craft your services and pricing strategy.

Marketing Strategy: Having a sound marketing strategy is one of the keys to success for any business in 2023. Given that there is a plethora of promotional mediums (digital and traditional) to choose from, you’ll need to hone into the best medium(s) to use based on budget, customer profile, and short/long-term goals.

Competitor Analysis: Given the sheer size of the home services industry, it’s not surprising that it is competitive. Before you start reaching out to clients, you’ll need to understand your competitor’s advantages and weaknesses, use it to develop your unique selling proposition (USP), and differentiate yourself from the rest.

Leverage The Power of Networking

Building and nurturing relationships with potential clients, and industry professionals and gaining referrals can significantly improve your chances of organically landing clients and building long-term business relationships.

In addition to reaching out to your personal networking for referrals, consider attending local networking events. These gatherings serve as excellent opportunities to meet like-minded professionals, gain insights from professionals and learn what it takes to be successful in the home services niche.

Invest in Business Cards

Business cards serve as a tangible representation of your brand and help you stand out from the rest in today’s digital-first world. Sharing personalized business cards with prospects increases the chances of recalling and securing their business. Even if you have never designed business cards before, give this a try. A free online business card generator can help you create a card quickly and professionally. Remember to keep the design clean and clearly mention your business name and content information.

By finding the right business idea, creating a comprehensive business plan, and investing in business cards, you can set yourself up for success in the thriving home services industry. Additionally, leveraging the power of networking will help you grow the business organically, make important professional connections and help sustain yourself for the long term.

Get Ready for Home Renovations: 6 Essential Steps

March 22, 2023

You’re gearing up to renovate your home – or maybe you’re still in the market for a new home, and you’re daydreaming about potential renovations. Either way, there are a lot of exciting things to consider. Here, HomeownerBliss.info presents how to kick off the renovation process, from coming up with multiple uses for certain rooms to learning the ins and outs of contractor software.

Plan for Renovations

Deciding on the specific renovations you want to invest in should be your first step. From remodeling your entire home to finishing your basement, you’ll want to nail down the details. If you’re planning on selling your home after renovating it, it’s wise to view recently sold homes to determine which types of amenities buyers most desire. You may even be able to transform certain rooms into multi-use spaces to get more out of your renovation investment. For example, you can add a home office that doubles as a

guest room by purchasing a sleeper sofa, storing bedding in an ottoman or wall cabinets, and even putting up a full-length mirror.

Although it’s not an official part of the renovation process, be prepared to deal with a lot of noise and dust. Look into some carcinogen-free cleaning products to help you keep your living spaces clean and functional during the construction process. You may be surprised to learn how many common household cleaning products contain toxic chemicals, like Phthalates and formaldehyde.

Research Contractor Software

Renovations can get complicated. Brushing up on the software that your contractors are likely to use can clear things up for you. Your contractors will definitely utilize bookkeeping software, and they may use separate invoicing software. Furthermore, if you’re hiring a landscaping contractor for outdoor work, by selecting landscape design software, they can create accurate estimates and easily manage timelines.

Outline Your Budget

If you’re still not sure how much your project will cost, it’s time to break down the numbers. To get the most accurate assessment, start reaching out to local friends who have undertaken similar projects and find out how much they ultimately paid. You’ll also want to ask potential contractors for estimates, but be aware that the final costs are generally inflated. Include the costs of any permits you might need.

Look into the projects that promise the highest ROI (return on investment). Usually bathrooms and kitchens are key selling and appraisal points. If you choose to renovate your kitchen, do it right. Don’t just add new flooring over the old stuff or new countertops over old cabinets. You will end up spending lots of money and getting a lower ROI.

Use this opportunity to also look into alternative energy options that could save you money for home or business use. Check out Firewheel Power for reliable energy options at a fraction of the big name competitors’ prices.

Choose Contractors

In addition to considering estimates from different contractors, you’ll also need to think about a few other factors before you decide who to hire. House Method recommends checking their licenses, reading their reviews online, verifying that they are bonded and insured, and viewing examples of their previous projects in their portfolios.

Communicating With Contractors

As your project begins, you’ll need to communicate with your contractors frequently. It’s important to be responsive so that you can check in on how the project is going and deal with any problems as they arise. ACP Construction Elevator recommends establishing a mode of communication first, whether you’d prefer to text, call, or email each other to discuss updates. When you talk to contractors, ask specific questions rather than just requesting general updates.

Be Considerate to Your Neighbors

Have you ever lived next door to a property where ongoing construction was taking place? If you’ve been in this position before, you know just how noisy it can get. Perhaps you live far away from your nearest neighbors, so you’re not too worried about anyone hearing construction noise from your home. But if you live right next door or share a wall, it’s courteous to give your neighbors a heads-up that you’ll be starting renovations soon. If they work from home or have young children at home, they may want to get out of the house while things are noisy next door. By letting them know about your plans, they will be able to prepare accordingly.

Create a Plan to Manage Your Home Reno Project

If you’re feeling stressed about your renovation project, take a deep breath. As long as you research each step in advance, you’ll be able to handle the process with ease. These tips will show you the value of multi-use spaces, the purpose of construction software, and the importance of budgeting.

Photo via Pexels

How an Energy Broker Can Help Your Business Control Costs

January 12, 2023

As a business owner, one of your top priorities is to keep your costs low while still providing the best products and services to your customers. One area where you can make a significant impact on your bottom line is in your energy costs. The price of electricity and natural gas can fluctuate greatly depending on a variety of factors, and without proper knowledge and resources, it can be difficult to navigate the market and find the best rates. That’s where an energy broker comes in.

An energy broker is a professional who specializes in helping businesses find the best electricity and natural gas rates. They have the knowledge and resources to understand the market and can provide you with a variety of options, so you can make an informed decision about the best plan for your business.

One of the biggest advantages of working with an energy broker is that they have access to a wide range of options. They can provide you with multiple quotes from different energy providers, so you can compare and choose the best plan for your business. This can save you time and effort, as you don’t have to spend hours researching different providers and plans.

Another advantage of using an energy broker is that they can help you understand the different terms and conditions of each plan, so you can make sure you’re getting the best deal. They can also help you understand the different regulations and policies in your area, so you can make sure you’re in compliance.

In addition, energy brokers can help you negotiate with energy providers to get the best rates. They have experience in the industry and they know how to communicate with providers and understand their policies, which can help you to get better deals.

Finally, an energy broker can help you to keep track of your energy costs over time, and they can help you to make adjustments as needed. This can help you to save money in the long run, and ensure that your business is running as efficiently as possible.

In conclusion, working with an energy broker can provide a great benefit for business owners. They can help you to find the best electricity and natural gas rates, understand the terms and conditions of each plan, negotiate with energy providers, stay in compliance with regulations, and keep track of your energy costs over time. These advantages can save you time, money and a lot of stress, so it is worth considering hiring an energy broker when shopping for electricity or natural gas rates.

Give Your Kids the Gift of a Financially Stable Future

July 10, 2022

Without financial literacy, your kids may become lost adults. They may make poor money decisions or find it challenging to live a comfortable life. To ensure your kids have a stable future, start teaching them about financial literacy while they are still young.

Start With Practical Knowledge

No matter their age, all kids can start learning the importance of money. As toddlers, introduce them to coins and dollar bills. Play coin identification games or play store to help introduce them to exchanging money for goods.

For older kids, start with an allowance. Allowances are good ways to introduce your kids to saving their own money. Likewise, it helps motivate them to help around the house. Once your kid receives an allowance, talk about where you can put the money. Instead of a piggy bank, consider setting up a savings account for your child. Savings accounts not only give your kid a way to save their money, but it also provides them with a way to learn about interest and money management.

Allow your kids to accompany you while shopping and if you ever have to say no to something your kids want, explain why you have to say no. Involve your kids in financial decisions and talk to them about your finances. Some parents hide their finances for fear that it may stress their kids. If you are in the process of cleaning up your finances, talk to your kids about it. Show your kids how you weigh out your financial decisions and how to limit what you buy to save up for essential purchases.

Explain Homeownership and Its Importance

Homeownership and owning property are crucial to building assets and creating financial security. Explain to your kids how to navigate the market, from house-hunting to obtaining approval for a mortgage. According to the experts, there are various home buying programs available. Teach your kids about the different types of loans and funding available for potential homeowners. The more you talk to your kids about the process, the less stress they may feel as adults entering the housing market.

Explain to your kids how the housing market favors sellers or buyers and that you may have difficulty selling a house if you live in an area with a struggling economy. Likewise, if you have a large inventory of houses on the market that favors buyers, you can have a more challenging time selling the home.

Kids may also benefit from learning the importance of being environmentally friendly. Start eco-friendly habits around your house and explain how being green can not only save money but can save the planet.

Discuss Income and Financial Literacy

Did you know that most kids have money habits by seven? They model their practices after you. Do not be afraid to discuss your income with your kids. If they want a big-ticket item or if you need to shop for a car or something expensive, explain the value of that item and why you cannot afford something like that all of the time.

Teach them how to start their own business to earn an income, even if they do not have capital. There are a variety of loans available for business owners. Talk to them about microloans, crowdfunding, and angel investors.

Financial literacy is vital for all people to understand. The younger you start teaching your kids about money, the more likely they will have financial stability in their future.

Going Green: Embrace Responsible Homeownership with These Easy Tips

August 18, 2018

Going Green: Embrace Responsible Homeownership with These Easy Tips

Being more “green” is a hot topic these days, but for some homeowners it sounds like a complex or expensive proposition. Thankfully, you can embrace more eco-friendly living without scientific equations or significant outlays of time or money. Here are some simple tips for being a more efficient, responsible homeowner.

Image courtesy of Pixabay

Living green now

Are you in a home that reasonably meets your needs, but you want to tidy up your ecological footprint? There are a number of cost-effective ways to make your house more eco-friendly.

Lighten up

Simply changing your light bulbs can pack a wallop. Switching from an incandescent to a compact fluorescent light bulb (CFL) reduces energy usage by 66 percent and lowers greenhouse gas emissions by 400 pounds. Another great option is light emitting diode (LED) bulbs. Some studies show that LED bulbs release very little heat, while incandescent bulbs release 90 percent of their energy as heat, and CFL bulbs release about 80 percent of their energy as heat. Also, LED bulbs use a bit less energy than CFL bulbs. LED bulbs typically last 15-25 years, while CFL bulbs last about 10 years.

Warm fuzzies

One way many homeowners stay warm is snuggling with the cat or dog. No pets? No problem! Add layers of clothes and throw on a lap quilt for warmth. Also, putting a throw rug on your bare floors not only feels good under your bare feet, it can save 4-6 percent on your energy bill.

Don’t be a drip

Save water by watering your landscaping with recycled water. Some professionals suggest gathering rain water in a barrel for your lawn and plants. And when you warm the water for your shower or bath, collect it for use. You can pour it into a watering can for potted plants.

Water wisdom

Several simple fixes around your home can also help you save water. Repair leaking toilets and faucets, install a low-flow toilet and shower head, rinse all your dishes at once instead of turning water on and off, and wash full loads when you run your dishwasher or laundry machine.

Go paperless

Are you still receiving hard copies of statements and invoices in your mailbox? According to GreenBiz, e-billing is probably the most overlooked way to go green. Switch from snail mail to electronic billing and payments, and save big time. It saves the company that is billing you on both paper and time, it saves your bank when it sends the payment, it saves the energy, products and time used by the postal service for delivery, and think of the greenhouse gas emissions saved throughout the process. You can even set up automated payments for many bills to ease your mind and effort. It’s a winning solution all the way around!

Home shopping and building

If you’re in the market to build or buy a home that is eco-friendly, consider construction with recycled materials whenever possible. For instance, HGTV suggests composite decking made from wood waste and plastic. It’s durable, long-lasting and low maintenance. Also look for sustainable materials, such as paper-based or bamboo countertops, Kirei board paneling, and bamboo or cork flooring. Other great flooring options include hemp and wool carpeting, which is natural, strong and biodegradable, and natural linoleum made from all raw materials. Remember to look for key items like energy-efficient windows and appliances as well. If you’re buying an existing home and planning to add eco-friendly options, budget carefully. Use an online calculator to estimate how much house you can afford, get some estimates for what you want to replace, and crunch the numbers to budget for your changes.

Simple and green

Embracing a more green lifestyle is easy. Make some simple changes in how you handle resources. Your home will leave a smaller footprint, and you’ll enjoy peace of mind knowing you’re being a more responsible homeowner.

Author

Suzie Wilson is an interior designer with more than 20 years experience. What started as a hobby (and often, a favor to friends) turned into a passion for creating soothing spaces in homes of every size and style. While her goal always includes making homes look beautiful, her true focus is on fashioning them into serene, stress-free environments that inspire tranquility in all who enter. The Ultimate Guide to Prepping Your Home for an Open House is filled with tips, tricks and other advice based on Suzie’s years of experience in interior home design that will set you up for success.

Power Grids Can’t Handle Heatwave : Forbes

August 1, 2018

A recent report in Forbes says America’s power grids are incapable of handling the heatwaves that are hammering the country.

Of course, peak demand in Texas occurs during the summer months and the Electric Reliability Council of Texas, also known as ERCOT, expects demand in August 1028 will exceed the record levels of 71,000 megawatts already surpassed in July.

In order to meet consumer demand, energy providers are often forced to reactivate aging, inefficient coal and nuclear power plants. In many areas, this causes electricity prices to surge and high demand can even lead to blackouts such as those that have cropped up on the West Coast.

Still, despite the push for renewable solutions, generation capacity cannot fully meet the demand.

Today, the continued closure of legacy coal and nuclear generators, along with the lack of incentives for building new baseload generators, have pushed systems in the U.S. to the breaking point. Los Angeles has learned it. Other markets may well face it before the summer is over.

So, what does this mean for Texas? Typically, consumers in the Lone Star state are not subject to the same types of energy challenges facing the rest of the country because ERCOT has done a good job maintaining, forecasting, and improving the power grid infrastructure. Still, consumers are encouraged to save energy when they can because it not only lowers stress on the power grid, it can also result in lower electricity prices.

If you are looking for electricity rates in Dallas or Houston or anywhere in between, be sure to check out the competitive offers from the various Retail Electricity Providers available at FirewheelPower.com.

Cryptocurrency Miners Thrashing Electric Grid and May Cause Higher Electricity Prices

June 17, 2018

Wow, how about this story out of Chelan County, Washington!

The Seattle Times is reporting that Chelan County and its neighbors have become ground-zero for cryptocurrency mining since 2012 because of the low rates afforded by the region’s hydropower resources.

Unfortunately, some of these “mining” efforts are taking place in the garages, basements, and bedrooms of residential neighborhoods, stressing the electrical grid. In one case, a home mining operation overloaded a transformer causing it to overheat and start a small grass fire nearby.

“[It’s] a very different kind of problem than anything we have addressed before.”

— Steven Wright, GM of Chelan County Public Utility District

Typically, the county and its 73,000 residents account for roughly 210 megawatts of power in a given year with a growth rate of roughly 4,500 megawatts per year.

But miners are requesting an additional 210 megawatts in order to conduct the trillions of computer calculations needed to process cryptocurrency.

As a point of reference, the story points out that a typical fruit warehouse uses about 2.5 megawatts in a six month period. During the same timeframe, cryptocurrency miners have requested approximately 50 megawatts.

Energy authorities have asked for a 3-month moratorium on new mining operations for the purpose of researching how to better-respond to increasing demands.

Ultimately, it could mean higher rates for area consumers. The more electricity is sold to local, large mining outfits, the less the utility is able to export. Those exports are the factor that keep residential rates low for subscribers. In order to meet the demand, the utility may be forced into investing in more infrastructure, such as substations and power lines. Those actions will have a significant effect on utility rates, too.

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