Electricity Rates in Silver Spring, MD
Average electricity cost, utility comparison, and solar savings potential for Silver Spring homeowners.
Silver Spring Electricity Cost Overview
The average residential electricity rate in Silver Spring, MD is $0.16 per kWh, which is 0% below the national average of $0.16/kWh. Homeowners in Silver Spring pay an average of $123 per month for electricity, based on typical usage of 771 kWh per month.
Electricity rates in Silver Spring are determined by the local utility providers that serve the area. Rates can vary depending on your specific utility, usage level, and time of use. Since Maryland has a deregulated electricity market, Silver Spring residents can shop for competitive rates from alternative suppliers.
Electric Utilities Serving Silver Spring
| Utility Company | Avg Rate ($/kWh) | Est. Monthly Bill |
|---|---|---|
| Baltimore Gas & Electric (BGE) | $0.16 | $123 |
| Pepco (Potomac Electric) | $0.15 | $116 |
| Delmarva Power | $0.14 | $108 |
How Solar Compares to Silver Spring Electricity Rates
Without Solar
- Monthly bill: $123
- Annual cost: $1,476
- 25-year cost: $36,900
- Rate trend: Rising 2-5% annually
With Solar
- Monthly savings: $103
- Annual savings: $1,236
- 25-year savings: $38,000
- Rate: Locked in for 25+ years
Electricity Rates FAQ - Silver Spring, MD
The average residential electricity rate in Silver Spring is $0.16 per kilowatt-hour (kWh), which is 0% below the national average of $0.16/kWh. The average monthly electric bill for Silver Spring homeowners is approximately $123.
With solar panels, Silver Spring homeowners can reduce their electricity costs by approximately 84%, saving around $103 per month or $38,000 over 25 years. The 30% federal tax credit further reduces the upfront cost of going solar.
The major electric utilities serving the Silver Spring area include Baltimore Gas & Electric (BGE), Pepco (Potomac Electric), Delmarva Power. Rates vary between providers, so your exact cost depends on your utility and usage level.
Yes, electricity rates in Silver Spring and across Maryland 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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