Electricity Rates in Lakewood, IL
The average residential electricity rate in Lakewood, IL is 19.0¢/kWh based on 2024 EIA data. Shelby Electric Coop, Inc - (IL) provides electricity to the area. This is 46.2% above the Illinois state average.
Electricity Providers in Lakewood
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Shelby Electric Coop, Inc - (IL) | 19.0¢/kWh | 13.0¢/kWh | Cooperative |
Estimated Monthly Electric Bill
Based on the average residential rate of 19.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in Lakewood
At 19.0¢/kWh, a typical Lakewood household spends approximately $2020.08/year on electricity. Solar panels could reduce this by 50–90%.
The federal solar tax credit covers 30% of installation costs through 2032.
EV Charging Costs in Lakewood
Charging an electric vehicle at home in Lakewood costs approximately $171.00/month at current rates, based on average driving habits (about 30 kWh per charge, charged daily). Compare to public charging prices at ChargeBuddy.ai.
Nearby Cities in Illinois
Frequently Asked Questions
What is the average electricity rate in Lakewood, IL?
The average residential electricity rate in Lakewood, IL is 19.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $168.34 for a typical household.
Who provides electricity in Lakewood?
Lakewood is served by 1 electricity provider. Shelby Electric Coop, Inc - (IL) is the largest provider in the area.
How do Lakewood electricity rates compare to the rest of Illinois?
Lakewood's average rate of 19.0¢/kWh is 46.2% above the Illinois state average of 13.0¢/kWh. Residents may benefit from exploring solar energy to offset higher electricity costs.