Electricity Prices Rise Again!
2017 residential rates rose 2.8% after a brief decline the prior year, according to the latest data from EIA. The average US residential rate was 12.9 cents per kilowatt hour in 2017. While 5 states (including our home state of Maryland) saw rates decline – others (AL, DC, IA, HI, MI, NM, FL) saw rates increase more than 5%. Hawaii pays the highest rates in the country at 29.5 cents, and saw their rates increase 7.4% last year.
Solar continues to be an attractive option in an environment where electricity prices continue to rise.
Savenia Solar Ratings use this data and more to calculate the full value of solar systems nationwide for solar installers and home sellers.