Electricity Rates in Maryland
Average residential electricity cost, utility comparison, and solar savings potential for Maryland homeowners.
Maryland Electricity Cost Overview
The average residential electricity rate in Maryland is $0.16 per kWh, which is 0% below the national average of $0.16/kWh.Maryland homeowners pay an average of $123 per month for electricity, based on typical usage of 771 kWh per month.
Electricity rates in this state have been trending upward over the past decade, following national patterns of rising energy costs. As rates continue to increase, solar panels become an increasingly attractive way for homeowners to lock in their energy costs and achieve long-term savings.
Major Electric Utilities in Maryland
| Utility Company | Avg Rate ($/kWh) | Customers | Est. Monthly Bill |
|---|---|---|---|
| Baltimore Gas & Electric (BGE) | $0.16 | 1.3M | $123 |
| Pepco (Potomac Electric) | $0.15 | 600K | $116 |
| Delmarva Power | $0.14 | 210K | $108 |
Maryland has a deregulated electricity market, which means you can choose your electricity supplier. Shopping for a competitive rate can lower your bill.
How Solar Compares to Maryland Electricity Rates
Without Solar
- Monthly bill: $123
- Annual cost: $1,476
- 25-year cost: $36,900
- Rate trend: Rising 2-5% annually
With Solar
- Monthly savings: $103
- Annual savings: $1,236
- 25-year savings: $38,000
- Rate: Locked in for 25+ years
Electricity Rates FAQ - Maryland
The average residential electricity rate in Maryland is $0.16 per kilowatt-hour (kWh), which is 0% below the national average of $0.16/kWh. The average monthly electric bill is approximately $123.
With solar panels, Maryland homeowners can reduce their electricity costs by approximately 84%, saving around $103 per month or $38,000 over 25 years. The 30% federal tax credit further reduces the upfront cost.
The largest electric utilities in Maryland include Baltimore Gas & Electric (BGE), Pepco (Potomac Electric), Delmarva Power. Rates vary between utilities, so your exact cost depends on your provider and usage.
Yes, electricity rates in Maryland have been increasing over time, following national trends of 2-5% annual increases. This upward trend makes solar panels an increasingly attractive investment since they lock in your energy costs for 25+ years.
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