Umair Gaines
Oklahoma's energy market supports competitive pricing, and its citizens enjoy lower residential electricity rates than most other Americans. The average residential electricity rate in Oklahoma is 13 ¢/kWh, compared to the national average of 16.22 ¢/kWh to 16.73 ¢/kWh. The average monthly electric bill for residential customers in Oklahoma is $200/month, which is calculated by multiplying the average monthly consumption of 1,568 kWh by the average electric rate. Oklahoma produces 43.39% of its electricity using sustainable fuel sources, ranking it 13th in the country for the ratio of renewable to non-renewable fuel sources.
| Characteristics | Values |
|---|---|
| Average electricity rate in Oklahoma County | 12 ¢/kWh |
| Average electricity rate in Oklahoma | 12.52 ¢/kWh to 12.79 ¢/kWh |
| Average electricity rate in the US | 13.17 ¢/kWh to 16.22 ¢/kWh to 16.73 ¢/kWh |
| Average monthly electric bill in Oklahoma County | $190/month |
| Average monthly electric bill in Oklahoma | $200/month |
| Average electricity consumption in Oklahoma County | 1,547 kWh |
| Average electricity consumption in Oklahoma | 1,568 kWh |
| Average electricity consumption in the US | 18.54 MWh per person |
| Energy loss in Oklahoma | 3.75% |
| Energy loss in the US | 2.43% |
| Rank of Oklahoma in grid efficiency | 35th |
| Rank of Oklahoma in ratio of renewable fuel sources to non-renewable sources | 13th |
| Rank of Oklahoma in total CO2 emissions from electricity use | 23rd |
| Rank of Oklahoma in CO2 emissions per resident from electricity use | 16th |
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What You'll Learn
Oklahoma County's average electric rate
The average electric rate in Oklahoma County, OK, is 12 ¢/kWh. This is calculated by multiplying the average monthly consumption of 1,547 kWh by the average electric rate. This is 4% lower than the average electricity rate in Oklahoma of 12.79 ¢/kWh. The national average rate is 21 ¢/kWh, so Oklahoma County's rate is 40% lower.
The average monthly electric bill for residential customers in Oklahoma County is $190/month. Over the next 25 years, you should expect to pay $76,900 on electric bills. This is 18% lower than the national average electric bill of $2,787.
There are a few ways to reduce your electric bill. One way is to use less electricity. Another way is to reduce the cost of your electricity by installing a solar system. On average, it will take 10.30 years to break even on your solar investment in Oklahoma County. After that, you may not owe anything on your electric bills.
The average electricity customer in Oklahoma County will need an 11.3 kW solar panel system to offset 100% of their annual electricity consumption of 18,564 kWh per year. Solar shoppers in the county pay an average of $26,000 for this system prior to incentives. You can expect to save $2,300 in your first year, $12,000 over five years, $25,400 over 10 years, and $57,700 over 20 years.
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Solar panels save money
In Oklahoma, citizens enjoy a lower residential electricity rate than most people around the country, with an average state electricity rate of 12.52 cents per kilowatt-hour compared to the United States average of 16.73 cents. The average monthly electric bill for residential customers in Oklahoma County is $190/month.
Solar panels can help reduce your monthly electric bills. While a $50 or $100 electric bill might not seem like much when you pay it each month, those bills add up quickly over ten, twenty, or even thirty years. If you pay $100 per month in electricity now, you’ll pay over $52,000 on electricity over the next thirty years!
Solar panels can help you save money by reducing your monthly electric bills. The amount you can save with solar panels depends on two factors: how much you spend on electricity now and how much of your electric bill you can offset with solar. The higher your local electricity prices, the greater your potential for solar savings. Most solar shoppers save between $34,000 and $120,000 on electricity over the lifetime of their solar panel system. The average U.S. homeowner will save around $52,000 over 25 years after installing solar panels.
Solar panels can also save you money in other ways. For example, you can lease solar panels and pay a fixed monthly payment of $100, avoiding a $150 monthly electricity bill, resulting in a net annual saving of $600. You can also take out a solar loan to install solar panels with no down payment and monthly payments of $150, saving $220 per month on electricity.
Solar panels also provide significant environmental benefits. When you install solar panels, you reduce CO2 emissions by limiting your fossil fuel consumption. A 5 kW solar panel system can easily offset the emissions produced by one fossil fuel automobile in one year.
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Average monthly bill
The average monthly electric bill for residential customers in Oklahoma is $200 per month, which is calculated by multiplying the average monthly consumption of 1,568 kWh by the average electric rate of 13 ¢/kWh. However, the average monthly electric bill can vary across different counties in Oklahoma. For example, the average monthly electric bill for residential customers in Oklahoma County is $190 per month, calculated using an average monthly consumption of 1,547 kWh and an average electric rate of 12 ¢/kWh.
The monthly electric bill is determined by how much electricity is used and the electric rate. Residential rates in the U.S. can range from 6 ¢/kWh to 71 ¢/kWh, depending on location, power plant types, and consumption time. The average residential electricity rate in Oklahoma is 13 ¢/kWh, which is lower than the national average of 16.22 ¢/kWh to 20 ¢/kWh. Oklahoma's low electric rates can be attributed to its competitive energy market and the use of sustainable fuel sources, with 43.39% of its electricity generated from renewable sources.
The average monthly electric bill can also be reduced by using less electricity or adopting cost-saving measures such as installing solar panel systems. Solar panels can help offset electricity consumption, and in some cases, excess energy can be stored in solar batteries for later use. While solar panel installation can be costly, it can lead to significant savings on electric bills over time.
It is worth noting that the average monthly electric bill can be influenced by various factors, such as energy loss, which is higher in Oklahoma (3.75%) compared to the national average (2.43%). Additionally, the average electric rate has been increasing annually, with a projected 2.4% annual increase, impacting the overall monthly electric bill for residents.
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Oklahoma's energy market
Oklahoma is a major energy producer, with natural resources including oil and gas reservoirs and wind power capabilities. The state's energy industry is deeply ingrained in its culture, with over a century of oil development and more recent wind projects. Oklahoma is the fourth-biggest producer of crude oil and marketed natural gas in the United States. The state is also third in the country in terms of total net power generation from wind.
The state's electricity market is regulated, with citizens often having only one or two provider choices determined by their location. Oklahoma Gas & Electric is the largest electricity supplier in the state, selling 30,209,458.89-megawatt hours of electricity per year. The average residential electricity rate in Oklahoma is 12.52 cents per kilowatt-hour, compared to the United States average of 16.73 cents. In Oklahoma County, the average is slightly lower at 12 cents per kilowatt-hour. This equates to an average monthly electric bill of $190 for residential customers.
Oklahoma has been steadily increasing its renewable energy output, with 43.39% of its electricity generated by sustainable fuel sources. This ranks the state 13th in the country for the ratio of renewable to non-renewable fuel sources. The state has also grown its hydroelectric power generation by 3.49%, now making up 1.53% of total electricity generation.
The state's energy sector has experienced recent challenges, with the pandemic-induced collapse in oil prices in 2020 leading to reduced drilling, production, and employment. However, the sector rebounded in 2021, and renewable energy is expected to make up a larger portion of Oklahoma's energy landscape in the future.
Oklahoma offers various incentives to encourage energy efficiency and reduce costs for its citizens. For example, the Oklahoma Electric Cooperative offers a $10 monthly discount for 24 months to those who qualify for Low-Income Assistance through the DHS. Additionally, a $5 monthly discount is available from June through October for primary account holders aged 65 or older.
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Cheapest electricity in the US
The cost of electricity varies across the United States, with rates depending on energy sources, demand, state regulations, and when and where electricity is being consumed. Residential rates in the U.S. range from 6 ¢/kWh to 42.49 ¢/kWh, with the average American paying 16.22 ¢/kWh of electricity. The national average electric bill is $2,787 per year, or $2,960 according to a different source.
Idaho has the lowest electricity rates in the country, with residents paying 11.69 ¢/kWh on average. Other states with low electricity rates include Ohio at 16.22 ¢/kWh, Texas at 15.47 ¢/kWh, and Illinois at 15.50 ¢/kWh.
Oklahoma has lower residential electricity rates than most states, with an average rate of 12.52 ¢/kWh compared to the United States average of 16.73 ¢/kWh. In Oklahoma County, the average rate is even lower at 12 ¢/kWh, which is 4% lower than the state average. The average monthly electric bill for residential customers in Oklahoma is $200, while in Oklahoma County the average is $190 per month.
There are several ways to reduce electric bills, such as using less electricity or installing solar panels. Solar panel systems can help save money by reducing monthly electric bills, and in some states, governments offer rebates and tax breaks to residents who install solar panels.
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Frequently asked questions
The average electricity rate in Oklahoma is 13 ¢/kWh.
The electricity rate in Oklahoma is lower than the national average of 16.22 ¢/kWh to 20 ¢/kWh.
Idaho has the lowest electricity rate in the US at 11.69 ¢/kWh.
The average electricity customer in Oklahoma pays $190-$200 per month.
