Cost of Electricity in our Homes Florida and other states

Real Estate Agent with energreen

Residential Electricity cost varies greatly from state to state.  Prices can range from a  low of $.073/ kwhr to over $.20 kwhr in Connecticut.  It is $.24 in Hawaii.             

Here in Florida the avg. cost is about $.124/kwhr

So a home that uses 20,000 kwhr/year would spend from $1400 - $4800 annually on electricity for that same quanity.  Here in Florida that 20,000 kwhr would cost about $2800/year (depending on where you live).  Many evaluations on the cost / benefit of energy saving improvements are based on saving on these electricity cost both today and very often for many years.  An important part of trying to determine ROI of any of the many energy savings improvements a home could use is to try to look at what those energy cost will be in the future to evaluate savings.  If electricity cost increase at say 4% a year, our electricity cost will double in 16 years.  If cost go up 7% a year cost would double in ten years.  So if I install a Solar (6-8kw) PV system today that produces (saves)10,000 kwh per year , and expected life of that solar pv system is 25 plus years, what will my system be saving in years 10-25+.  Will it be saving $1400/ year (todays rate) or a number like $4800/savings per year ( 6% annual increase would have electricity cost at approx. $.48/kwhr.  Here are some graphs that speak to electricity price increases.  The one graph is denoted as provided by FP&L.  The other 2 graphs are produced by the Energy Information Administration (EIA).  FP&L is currently seeking a rate increase.


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