Electricity Rates in New hope, KY
Residents of New hope, KY benefit from relatively low electricity rates, averaging 12.0¢/kWh — 32.5% below the national average. The city is served by 3 electricity providers, with Inter County Energy Coop Corp - (KY) being the largest.
Electricity Providers in New hope
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Inter County Energy Coop Corp - (KY) | 14.0¢/kWh | 12.0¢/kWh | Cooperative |
| Kentucky Utilities Co | 12.0¢/kWh | 12.0¢/kWh | Investor Owned |
| Salt River Electric Coop Corp | 11.0¢/kWh | 10.0¢/kWh | Cooperative |
Estimated Monthly Electric Bill
Based on the average residential rate of 12.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in New hope
At 12.0¢/kWh, a typical New hope household spends approximately $1275.84/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 New hope
Charging an electric vehicle at home in New hope costs approximately $108.00/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 Kentucky
Frequently Asked Questions
What is the average electricity rate in New hope, KY?
The average residential electricity rate in New hope, KY is 12.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $106.32 for a typical household.
Who provides electricity in New hope?
New hope is served by 3 electricity providers. Inter County Energy Coop Corp - (KY) is the largest provider in the area, though rates and availability vary by specific address.
How do New hope electricity rates compare to the rest of Kentucky?
New hope's average rate of 12.0¢/kWh is 7.7% below the Kentucky state average of 13.0¢/kWh. Residents enjoy some of the lower rates in the state.