Electricity Rates in Folsom, NM
Electricity rates in Folsom, NM average 22.0¢/kWh — 23.7% above the national average of 17.78¢/kWh. Southwestern Electric Coop Inc - (NM) is the primary electricity provider in the area, with 2 providers serving the city.
Electricity Providers in Folsom
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Southwestern Electric Coop Inc - (NM) | 24.0¢/kWh | 17.0¢/kWh | Cooperative |
| Springer Electric Coop, Inc | 19.0¢/kWh | 15.0¢/kWh | Cooperative |
Estimated Monthly Electric Bill
Based on the average residential rate of 22.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in Folsom
At 22.0¢/kWh, a typical Folsom household spends approximately $2339.04/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 Folsom
Charging an electric vehicle at home in Folsom costs approximately $198.00/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 New Mexico
Frequently Asked Questions
What is the average electricity rate in Folsom, NM?
The average residential electricity rate in Folsom, NM is 22.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $194.92 for a typical household.
Who provides electricity in Folsom?
Folsom is served by 2 electricity providers. Southwestern Electric Coop Inc - (NM) is the largest provider in the area, though rates and availability vary by specific address.
How do Folsom electricity rates compare to the rest of New Mexico?
Folsom's average rate of 22.0¢/kWh is 37.5% above the New Mexico state average of 16.0¢/kWh. Residents may benefit from exploring solar energy to offset higher electricity costs.