Electricity Rates in North Carolina
Average residential electricity cost, utility comparison, and solar savings potential for North Carolina homeowners.
North Carolina Electricity Cost Overview
The average residential electricity rate in North Carolina is $0.12 per kWh, which is 25% below the national average of $0.16/kWh.North Carolina homeowners pay an average of $96 per month for electricity, based on typical usage of 797 kWh per month.
Electricity rates in this state have been trending upward over the past decade, following national patterns of rising energy costs. As rates continue to increase, solar panels become an increasingly attractive way for homeowners to lock in their energy costs and achieve long-term savings.
Major Electric Utilities in North Carolina
| Utility Company | Avg Rate ($/kWh) | Customers | Est. Monthly Bill |
|---|---|---|---|
| Duke Energy Carolinas | $0.12 | 2M | $96 |
| Duke Energy Progress | $0.12 | 1.3M | $96 |
| Dominion Energy NC | $0.11 | 120K | $88 |
How Solar Compares to North Carolina Electricity Rates
Without Solar
- Monthly bill: $96
- Annual cost: $1,152
- 25-year cost: $28,800
- Rate trend: Rising 2-5% annually
With Solar
- Monthly savings: $75
- Annual savings: $900
- 25-year savings: $30,000
- Rate: Locked in for 25+ years
Electricity Rates FAQ - North Carolina
The average residential electricity rate in North Carolina is $0.12 per kilowatt-hour (kWh), which is 25% below the national average of $0.16/kWh. The average monthly electric bill is approximately $96.
With solar panels, North Carolina homeowners can reduce their electricity costs by approximately 78%, saving around $75 per month or $30,000 over 25 years. The 30% federal tax credit further reduces the upfront cost.
The largest electric utilities in North Carolina include Duke Energy Carolinas, Duke Energy Progress, Dominion Energy NC. Rates vary between utilities, so your exact cost depends on your provider and usage.
Yes, electricity rates in North Carolina 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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