Electricity Rates in Bancroft, IA
The average residential electricity rate in Bancroft, IA is 16.0¢/kWh based on 2024 EIA data. The city is served by 2 utility providers. This is 14.3% above the Iowa state average.
Electricity Providers in Bancroft
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Interstate Power and Light Co | 18.0¢/kWh | 13.0¢/kWh | Investor Owned |
| Iowa Lakes Electric Coop | 14.0¢/kWh | 12.0¢/kWh | Cooperative |
Estimated Monthly Electric Bill
Based on the average residential rate of 16.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in Bancroft
At 16.0¢/kWh, a typical Bancroft household spends approximately $1701.12/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 Bancroft
Charging an electric vehicle at home in Bancroft costs approximately $144.00/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 Iowa
Frequently Asked Questions
What is the average electricity rate in Bancroft, IA?
The average residential electricity rate in Bancroft, IA is 16.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $141.76 for a typical household.
Who provides electricity in Bancroft?
Bancroft is served by 2 electricity providers. Interstate Power and Light Co is the largest provider in the area, though rates and availability vary by specific address.
How do Bancroft electricity rates compare to the rest of Iowa?
Bancroft's average rate of 16.0¢/kWh is 14.3% above the Iowa state average of 14.0¢/kWh. Residents may benefit from exploring solar energy to offset higher electricity costs.