Electricity Rates in New York
Average residential electricity cost, utility comparison, and solar savings potential for New York homeowners.
New York Electricity Cost Overview
The average residential electricity rate in New York is $0.21 per kWh, which is 31% above the national average of $0.16/kWh.New York homeowners pay an average of $180 per month for electricity, based on typical usage of 859 kWh per month.
New York electricity rates are among the highest in the nation and continue to rise as the state pursues ambitious clean energy goals. Utility bills in NYC and Long Island are particularly high, driving strong solar demand.
Major Electric Utilities in New York
| Utility Company | Avg Rate ($/kWh) | Customers | Est. Monthly Bill |
|---|---|---|---|
| Con Edison | $0.24 | 3.5M | $206 |
| National Grid | $0.20 | 1.7M | $172 |
| NYSEG | $0.18 | 890K | $155 |
New York 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 New York Electricity Rates
Without Solar
- Monthly bill: $180
- Annual cost: $2,160
- 25-year cost: $54,000
- Rate trend: Rising 2-5% annually
With Solar
- Monthly savings: $142
- Annual savings: $1,704
- 25-year savings: $40,000
- Rate: Locked in for 25+ years
Electricity Rates FAQ - New York
The average residential electricity rate in New York is $0.21 per kilowatt-hour (kWh), which is 31% above the national average of $0.16/kWh. The average monthly electric bill is approximately $180.
With solar panels, New York homeowners can reduce their electricity costs by approximately 79%, saving around $142 per month or $40,000 over 25 years. The 30% federal tax credit further reduces the upfront cost.
The largest electric utilities in New York include Con Edison, National Grid, NYSEG. Rates vary between utilities, so your exact cost depends on your provider and usage.
Yes, electricity rates in New York 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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