Electricity Rates in Maine
Average residential electricity cost, utility comparison, and solar savings potential for Maine homeowners.
Maine Electricity Cost Overview
The average residential electricity rate in Maine is $0.18 per kWh, which is 12% above the national average of $0.16/kWh.Maine homeowners pay an average of $155 per month for electricity, based on typical usage of 859 kWh per month.
Electricity rates in this state have been trending upward over the past decade, following national patterns of rising energy costs. As rates continue to increase, solar panels become an increasingly attractive way for homeowners to lock in their energy costs and achieve long-term savings.
Major Electric Utilities in Maine
| Utility Company | Avg Rate ($/kWh) | Customers | Est. Monthly Bill |
|---|---|---|---|
| Central Maine Power | $0.19 | 640K | $163 |
| Versant Power | $0.17 | 160K | $146 |
| Houlton Water Company | $0.15 | 5K | $129 |
Maine has a deregulated electricity market, which means you can choose your electricity supplier. Shopping for a competitive rate can lower your bill.
How Solar Compares to Maine Electricity Rates
Without Solar
- Monthly bill: $155
- Annual cost: $1,860
- 25-year cost: $46,500
- Rate trend: Rising 2-5% annually
With Solar
- Monthly savings: $124
- Annual savings: $1,488
- 25-year savings: $28,000
- Rate: Locked in for 25+ years
Electricity Rates FAQ - Maine
The average residential electricity rate in Maine is $0.18 per kilowatt-hour (kWh), which is 12% above the national average of $0.16/kWh. The average monthly electric bill is approximately $155.
With solar panels, Maine homeowners can reduce their electricity costs by approximately 80%, saving around $124 per month or $28,000 over 25 years. The 30% federal tax credit further reduces the upfront cost.
The largest electric utilities in Maine include Central Maine Power, Versant Power, Houlton Water Company. Rates vary between utilities, so your exact cost depends on your provider and usage.
Yes, electricity rates in Maine have been increasing over time, following national trends of 2-5% annual increases. This upward trend makes solar panels an increasingly attractive investment since they lock in your energy costs for 25+ years.
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