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The Cost of Electricity in Chicago, Illinois

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Average Cost of Electricity in Chicago

The Windy City is full of culture, architecture, and fun things to do. But did you know that the cost of electricity in Chicago is higher than many other cities across the country? That’s right. Over the past four years Chicago residents paid between 9.4% and 15.8% more for their electricity than the national average of 13.7 cents per kWh.

How Do Electricity Costs in Chicago Compare To The Rest of Illinois?

The average cost of electricity throughout the state of Illinois is 13.32 ¢/ kWh. This rate varies slightly depending on whether or not residents receive their electricity from a utility or ARES (alternative rate electric suppliers). It is not uncommon for energy prices to be higher in major urban areas and clearly Chicago is no exception to this rule. Large cities, especially older cities have to deal with outdated infrastructure issues that make delivering electricity to high populations of residents more challenging. Although Chicago area residents can enjoy a more temperate climate during the spring and summer months, frigid Chicago winters mean that residents can expect to spend more heating their homes and apartments. These costs add up throughout the year, which leaves many people searching for ways to save money on their monthly electric bills.

Residents often turn to ARES after being offered an attractive teaser rate that is often a gimmick. They lock in lower rates, but after a short introductory period, those rates go up. Chicago residents who signed up with alternative energy suppliers other than ComEd from May 2018 to May 2019 overpaid for electricity by more than $100 per year on average.

City reflected in solar panels

How Community Solar Helps Chicago Residents Save On Energy Costs

Many residents are turning to alternative energy sources to help offset the cost of their energy supply costs. Solar energy is an excellent alternative to traditional electricity sources. However, many Chicago residents are not able to take advantage of rooftop solar panels because they are currently renting their homes, and many homeowners don’t qualify due to a roof’s age, shading, co-op restrictions, and more. While green plans from Retail Electric companies are available, they are typically accompanied by premiums and fees.

Pricing

This is where Community Solar can help. Community Solar farms use the same solar photovoltaic technology as rooftop solar does, but there is no rooftop installation required. Instead, residents subscribe to an offsite solar array in Illinois called a Community Solar farm. Homeowners and residents alike can take advantage of solar energy by participating in a local Community Solar project. Each subscriber gets to take advantage of the solar energy generated from their farm. In turn, they then receive solar bill credits applied directly to their ComEd or Ameren utility bills. With Clearway’s Illinois program, customers are guaranteed to save 20% every month on the cost of the solar bill credits. It is a great way for Chicago residents to save money on electricity while supporting a more sustainable future through solar energy.sample utility bill for Chicago, IL

 

Wondering how Community Solar could impact your electricity costs? Try our solar savings cost calculator.

 

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