Electricity Rates in Albany, NY
Average electricity cost, utility comparison, and solar savings potential for Albany homeowners.
Albany Electricity Cost Overview
The average residential electricity rate in Albany, NY is $0.21 per kWh, which is 31% above the national average of $0.16/kWh. Homeowners in Albany pay an average of $180 per month for electricity, based on typical usage of 859 kWh per month.
Electricity rates in Albany are determined by the local utility providers that serve the area. Rates can vary depending on your specific utility, usage level, and time of use. Since New York has a deregulated electricity market, Albany residents can shop for competitive rates from alternative suppliers.
Electric Utilities Serving Albany
| Utility Company | Avg Rate ($/kWh) | Est. Monthly Bill |
|---|---|---|
| Con Edison | $0.24 | $206 |
| National Grid | $0.20 | $172 |
| NYSEG | $0.18 | $155 |
How Solar Compares to Albany 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 - Albany, NY
The average residential electricity rate in Albany is $0.21 per kilowatt-hour (kWh), which is 31% above the national average of $0.16/kWh. The average monthly electric bill for Albany homeowners is approximately $180.
With solar panels, Albany 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 of going solar.
The major electric utilities serving the Albany area include Con Edison, National Grid, NYSEG. Rates vary between providers, so your exact cost depends on your utility and usage level.
Yes, electricity rates in Albany and across New York have been increasing, following national trends of 2-5% annual increases. This makes solar panels an increasingly attractive option since they lock in your energy costs for 25+ years.
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