Residential Power Bills Outpace Business Rates Amid Policy Shifts, Studies Find
Household electricity costs have risen significantly faster than commercial and industrial rates over the past five years, according to new research. Analysts point to state energy policies and distributed solar adoption as key factors behind the diverging price trends.
Residential Electricity Costs Surge Ahead of Business Rates
Residential electricity prices have increased more rapidly than commercial and industrial rates over the past five years, according to reports from Lawrence Berkeley National Laboratory. Nationwide average residential prices jumped 27% to 16.5 cents/kWh between 2019 and 2024, while commercial and industrial prices both increased 19% to 12.8 cents/kWh and 8.1 cents/kWh respectively, the laboratory’s analysis found.