Location, energy usage, and prices affect energy costs. For instance, a state with more affordable electricity can still have nearly the same total energy costs than one with more expensive electricity but a milder climate. Homeowners in high-temperature locations, particularly during the summer, crank up their air conditioning units and use up more energy.
Wyoming Tops List as the Most Energy-Expensive State
1. s
Wyoming Tops List as the
Most Energy-Expensive
State
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2. Location, energy usage, and prices affect energy costs. For instance, a state with more affordable
electricity can still have nearly the same total energy costs than one with more expensive electricity
but a milder climate. Homeowners in high-temperature locations, particularly during the summer,
crank up their air conditioning units and use up more energy.
A report from WalletHub analyzed and ranked each state and the District of Columbia according to
their total energy costs. Wyoming, which has a total energy cost of $372, took the first place as the
most energy-expensive state. Connecticut ($366), Georgia ($349), Alabama ($341), and Mississippi
($340) rounded out the top five list.
Meanwhile, the top three least-energy expensive states were the District of Columbia ($203),
Colorado ($252), and Washington ($253). The report also identified the states with the highest and
lowest electricity price (Hawaii and Louisiana, respectively). The low electricity price in Louisiana
may be a contributing factor to the state having the highest electricity consumption per consumer in
the US. Other states with notably high electricity consumption are Alabama, Mississippi, Florida, and
South Carolina.
3. The Rapid Adoption of LEDs
Households looking to reduce their energy consumption often turn to light-emitting diodes or LED
light bulbs. LEDs offer significantly greater energy efficiency than most types of lighting. This, and
other energy-related benefits, led to a rapid adoption of LEDs in the market. Leading global
investment management firm Goldman Sachs noted it may be one of the fastest technology shifts in
history.
The widespread use of LEDs helped reduce its market price. In fact, its price has gone down 90
percent since 2008. Today, LED lights can be bought for around $3 per 60-watt bulb.
LEDs reduce electricity consumption by 85 percent and 40 percent compared to incandescent and
fluorescent lights, respectively. These light bulbs also last much longer. They can run anywhere
between five years (used nonstop) and a few decades (used sparingly).
Energy Outlook for the Coming Years
The US Department of Energy notes that if the widespread use of LEDs continues until 2027, the US
could save almost 348 terawatt hours of electricity. The total energy savings would reach at least $30
billion at the current electricity prices.
The demand for electricity is expected to remain stagnant, just as it has been for the past decade.
The flat electricity demand is largely attributed to greater energy efficiency and other renewable
sources of energy.