by DMK Real Estate, Fairfield County, Ct.
The U.S. Energy Information Administration (EIA) “Electric Power Monthly” reports released last month for May 2014 shows that Connecticut has the third highest residential electric rate nationwide at an average of 20.18 cents per Kilowatt hour. In contrast Washington State has the lowest rate at 8.93 cents per Kilowatt hour.
Year to year New England has had the highest price hike of 11.31% and the Pacific Contiguous (California, Oregon, Washington) has had the lowest increase of 1.69%.
Maybe it is time to consider Solar Photovoltaic to produce your electricity? The break-even point is still about 8 to 15 years (depending on rebates) but with systems estimated to last up to 25 years it might be a smart move for homeowners who are not moving.
At EnergizeCt.com you can find plenty of information about investing in Solar PV. There are plenty of Solar Contractors to choose from in Connecticut along with several ways to solar finance if you like:-
- Ct Solar Lease
- Ct Solar Loan
- Smart-E Loan
Note that your electric bill is broken up into two sections, delivery and supply (generation) which means if you are still hooked up to the electric grid and selling your electricity back to the utility company you will still be paying a monthly delivery cost (please check with your utility company in regards to this).
Out of the end-use sectors residential, commercial, industrial and transportation the residential sector accounts for the majority of sales and still pays the most cents per Kilowatt hour for electricity.
To read the full 222 page report by the EIA click here and additional information at Builder Housing Data Average residential electric bills.
