Electricity Rates in Faribault, MN
The average residential electricity rate in Faribault, MN is 16.0¢/kWh based on 2024 EIA data. The city is served by 3 utility providers. This is 6.7% above the Minnesota state average.
Electricity Providers in Faribault
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Minnesota Valley Electric Coop | 14.0¢/kWh | 11.0¢/kWh | Cooperative |
| Northern States Power Co - Minnesota | 17.0¢/kWh | 13.0¢/kWh | Investor Owned |
| Steele-Waseca Cooperative Electric | 16.0¢/kWh | 13.0¢/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 Faribault
At 16.0¢/kWh, a typical Faribault 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 Faribault
Charging an electric vehicle at home in Faribault 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 Minnesota
Frequently Asked Questions
What is the average electricity rate in Faribault, MN?
The average residential electricity rate in Faribault, MN 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 Faribault?
Faribault is served by 3 electricity providers. Minnesota Valley Electric Coop is the largest provider in the area, though rates and availability vary by specific address.
How do Faribault electricity rates compare to the rest of Minnesota?
Faribault's average rate of 16.0¢/kWh is 6.7% above the Minnesota state average of 15.0¢/kWh. Residents may benefit from exploring solar energy to offset higher electricity costs.