Electricity Cost in Raleigh, NC: 2023 Electric Rates | EnergySage (2024)

On average, Raleigh, NC residents spend about $168 per month on electricity. That adds up to $2,016 per year.

That's roughly equal to the national average electric bill of $2,025. The average electric rates in Raleigh, NC cost 15 ¢/kilowatt-hour (kWh), so that means that the average electricity customer in Raleigh, NC is using 1,098 kWh of electricity per month, and 13,176 kWh over the course of the year.

Electric rates in Raleigh, NC

This data is aggregated over the past 6 months.

Electric bill savings with solar in Raleigh, NC

Solar saves you money by reducing or eliminating your monthly electric bill. The amount that you can save with solar in Raleigh, NC is based on two factors: how much you spend on electricity now and how much of your electric bill you can offset with solar.

Based on the intensity and amount of sunlight hours in Raleigh, NC, the average electricity customer in Raleigh, NC will need a 9.2 kilowatt (kW) solar panel system to offset 100% of their annual electricity consumption of 13,176 kWh per year. On the EnergySage Marketplace, solar shoppers in Raleigh, NC pay an average of $24,000 for a 9.2 kW solar panel system prior to incentives.

The savings from offsetting 100% of an electric bill with solar can add up fast! Assuming an 1.0% annual increase in electricity prices and that you install your system with a $0-down loan, you can expect to save $2,000 in your first year, $10,300 over five years, $21,000 over 10 years, and $44,300 over 20 years on electric bills in Raleigh, NC. Over your system’s lifetime you’ll save more by financing your solar system with a cash purchase, but you won’t start saving in year one. Learn more about how to finance your solar panel system.

How much can you save by going solar in Raleigh, NC?

Electricity Cost in Raleigh, NC: 2023 Electric Rates | EnergySage (2024)

FAQs

What is the average electric bill in Raleigh NC? ›

Monthly electric bills are a product of how much electricity you use per month and your electric rate. In Raleigh, NC, the average monthly electric bill for residential customers is $164/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 1,097 kWh * 15 ¢/kWh.

What is North Carolina electric rate? ›

Electricity (kWh) Prices by State
STATESep 2021MOVEMENT
North Carolina11.24¢ / kWhUP
North Dakota12.07¢ / kWhDOWN
Ohio12.64¢ / kWhDOWN
Oklahoma10.72¢ / kWhUP
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How much does a kWh cost in North Carolina? ›

Electricity Rates in NC

^ The average residential electricity rate in North Carolina is 10.91¢/kWh, which ranks 32nd in the U.S.

How much KW does a house use? ›

How Many Kilowatts Does It Take to Power a House? With the average American home consuming 900 kWh a month or 30 kWh a day, that brings the total yearly usage to around 10,800 kWh. This means that most solar energy systems will need to be large enough to produce this many kWh's in a given year.

How much is kWh in Raleigh? ›

Electric rates in Wake County, NC

The average residential electricity rate in Wake County, NC is 14 ¢/kWh, which is 7% higher than the average electricity rate in North Carolina of 13.32 ¢/kWh. The average residential electricity rate in Wake County, NC is 19% lower than the national average rate of 18 ¢/kWh.

What is the cost of living in Raleigh NC 2023? ›

A family of four estimated monthly costs are 4,426.4$ without rent. A single person estimated monthly costs are 1,258.6$ without rent. Raleigh is 15.5% less expensive than Seattle (without rent). Rent in Raleigh is, on average, 18.2% lower than in Seattle.

What states have the highest electricity rates? ›

U.S. residential retail price of electricity 2022, by state

Hawaii is the U.S. state with the highest household electricity price. In September 2022, the average retail price of electricity for Hawaiian residences amounted to roughly 45 U.S. cents per kilowatt-hour.

What is the average monthly utility bill in NC? ›

Average Utility Costs in North Carolina: $371 per month

No matter where you live, you'll need to cover the costs of basic utilities.

What are utility rates in Cary NC? ›

The average residential electricity rate in Cary, NC is 13 ¢/kWh, which is 6% lower than the average electricity rate in North Carolina of 13.34 ¢/kWh. The average residential electricity rate in Cary, NC is 27% lower than the national average rate of 17 ¢/kWh.

What is the highest electric rate in the US 2023? ›

10 states with the highest residential electricity rates
StateApril 2023% Change
Hawaii43.183.3
Connecticut34.4427.0
Massachusetts32.0131.7
New Hampshire30.8733.3
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How much does Duke charge per kWh in NC? ›

Average Duke Energy Electric Bill
Based on average usage of 1,027 kilowatt hours (kWh) per month, as of 10/27/2022*
Month
Total Monthly Bill:$179.44
Price per kWh (with fixed charge):$0.174727
Price per kWh (w/o fixed charge):$0.164464
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Who has the lowest rate for electricity? ›

Electricity Rates By State (Updated Daily)
  • The Average Electricity Rate in the U.S. is 16.11 cents per kilowatt-hour.
  • Hawaii has the highest average electricity rate of 43.18 cents per kilowatt-hour.
  • Idaho has the lowest average electricity rate of 10.24 cents per kilowatt-hour.

How many kW does it take to run a 2000 sq ft house? ›

Average kWh usage for a 500-square-foot home: 400 kWh. Average kWh usage for a 1,000 square foot home: 880 kWh. Average kWh usage for a 2,000 square foot home: 1,325 kWh. Average kWh usage for a 3,000 square foot home: 1,840 kWh.

How many kW does a 1500 sq ft house use? ›

Estimate Your Home's Monthly kWh Usage
Home Size (Sqft)Estimated Monthly kWh Usage
1,000500 – 1,000 kWh
1,500750 – 1,500 kWh
2,0001,000 – 2,000 kWh
2,5001,250 – 2,500 kWh
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Is 12 kW enough to run a house? ›

Though the 10kW – 12kW home standby generator likely won't power your whole home depending on its size, it's certainly enough to handle “the essentials” such as well pumps, appliances, etc., plus a little more in the event of a power outage.

What is the average electric bill per month in NC? ›

Monthly electric bills are a product of how much electricity you use per month and your electric rate. In North Carolina, the average monthly electric bill for residential customers is $146/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 1,092 kWh * 13 ¢/kWh.

What is the monthly cost of living in Raleigh NC? ›

List of prices in Raleigh, North Carolina Current as of Jul 2023.
FoodUpdate prices
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area$1,444
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio$150
Internet 8 mbps (1 month)$75
40” flat screen tv$267
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How much do I need to make to live comfortably in Raleigh NC? ›

Typical Expenses
1 ADULT2 ADULTS (1 WORKING)
0 Children2 Children
Required annual income after taxes$32,366$70,243
Annual taxes$5,718$12,808
Required annual income before taxes$38,084$83,050
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