Electricity Rates in Chicago, IL
Average electricity cost, utility comparison, and solar savings potential for Chicago homeowners.
Chicago Electricity Cost Overview
The average residential electricity rate in Chicago, IL is $0.16 per kWh, which is 0% below the national average of $0.16/kWh. Homeowners in Chicago pay an average of $133 per month for electricity, based on typical usage of 833 kWh per month.
Electricity rates in Chicago are determined by the local utility providers that serve the area. Rates can vary depending on your specific utility, usage level, and time of use. Since Illinois has a deregulated electricity market, Chicago residents can shop for competitive rates from alternative suppliers.
Electric Utilities Serving Chicago
| Utility Company | Avg Rate ($/kWh) | Est. Monthly Bill |
|---|---|---|
| ComEd (Commonwealth Edison) | $0.16 | $133 |
| Ameren Illinois | $0.14 | $117 |
| MidAmerican Energy | $0.13 | $108 |
How Solar Compares to Chicago Electricity Rates
Without Solar
- Monthly bill: $133
- Annual cost: $1,596
- 25-year cost: $39,900
- Rate trend: Rising 2-5% annually
With Solar
- Monthly savings: $109
- Annual savings: $1,308
- 25-year savings: $35,000
- Rate: Locked in for 25+ years
Electricity Rates FAQ - Chicago, IL
The average residential electricity rate in Chicago is $0.16 per kilowatt-hour (kWh), which is 0% below the national average of $0.16/kWh. The average monthly electric bill for Chicago homeowners is approximately $133.
With solar panels, Chicago homeowners can reduce their electricity costs by approximately 82%, saving around $109 per month or $35,000 over 25 years. The 30% federal tax credit further reduces the upfront cost of going solar.
The major electric utilities serving the Chicago area include ComEd (Commonwealth Edison), Ameren Illinois, MidAmerican Energy. Rates vary between providers, so your exact cost depends on your utility and usage level.
Yes, electricity rates in Chicago and across Illinois 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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