Electricity Rates in Covington, KY

The average residential electricity rate in Covington is $0.11 per kilowatt-hour (kWh), which is 31% below the national average of $0.16/kWh. The average monthly electric bill for Covington homeowners is approximately $89.

With solar panels, Covington homeowners can reduce their electricity costs by approximately 72%, saving around $64 per month or $24,000 over 25 years. The 30% federal tax credit further reduces the upfront cost of going solar.

The major electric utilities serving the Covington area include Kentucky Utilities (LG&E/KU), Louisville Gas & Electric, Duke Energy Kentucky. Rates vary between providers, so your exact cost depends on your utility and usage level.

Yes, electricity rates in Covington and across Kentucky 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.