Electricity Rates in Springfield, IL
Average electricity cost, utility comparison, and solar savings potential for Springfield homeowners.
Springfield Electricity Cost Overview
The average residential electricity rate in Springfield, IL is $0.16 per kWh, which is 0% below the national average of $0.16/kWh. Homeowners in Springfield pay an average of $133 per month for electricity, based on typical usage of 833 kWh per month.
Electricity rates in Springfield are determined by the local utility providers that serve the area. Rates can vary depending on your specific utility, usage level, and time of use. Since Illinois has a deregulated electricity market, Springfield residents can shop for competitive rates from alternative suppliers.
Electric Utilities Serving Springfield
| Utility Company | Avg Rate ($/kWh) | Est. Monthly Bill |
|---|---|---|
| ComEd (Commonwealth Edison) | $0.16 | $133 |
| Ameren Illinois | $0.14 | $117 |
| MidAmerican Energy | $0.13 | $108 |
How Solar Compares to Springfield 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 - Springfield, IL
The average residential electricity rate in Springfield is $0.16 per kilowatt-hour (kWh), which is 0% below the national average of $0.16/kWh. The average monthly electric bill for Springfield homeowners is approximately $133.
With solar panels, Springfield 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 Springfield 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 Springfield 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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