New Study Finds Energy Cost Increases From $623 to $2,682 per year from 2020 – 2022
ORLANDO, Fla., Aug. 17, 2022 /PRNewswire/ — Jackson Associates announces a new study documenting state-level homeowner energy cost increases from 2020 to 2022. Results show energy costs and inflation rankings of individual states detailed by dwelling and commuting gasoline costs along with state average energy costs.
Summary results are shown below for the worst and best 10 states. Detailed results for all states are available at https://maisy.com/energy_cost_inflation.htm
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Summary Results: 10 Worst and 10 Best States for Homeowner Dwelling and Commuting Energy Cost Increases 2020 – 2022 |
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Rank |
State |
Energy Cost Increase |
% Increase |
2022 Average Energy Cost |
|
1 |
NH |
$2,682 |
59 % |
$7,254 |
|
2 |
ME |
$2,473 |
62 % |
$6,476 |
|
3 |
VT |
$2,359 |
56 % |
$6,557 |
|
4 |
CT |
$2,341 |
47 % |
$7,353 |
|
5 |
MA |
$2,251 |
46 % |
$7,110 |
|
6 |
RI |
$2,190 |
48 % |
$6,772 |
|
7 |
NY |
$1,992 |
46 % |
$6,317 |
|
8 |
NJ |
$1,893 |
45 % |
$6,099 |
|
9 |
CA |
$1,867 |
45 % |
$6,019 |
|
10 |
IL |
$1,858 |
62 % |
$4,867 |
|
40 |
WY |
$1,199 |
39 % |
$4,247 |
|
41 |
FL |
$1,180 |
39 % |
$4,190 |
|
42 |
AL |
$1,176 |
34 % |
$4,634 |
|
43 |
KY |
$1,159 |
37 % |
$4,294 |
|
44 |
OR |
$1,152 |
39 % |
$4,112 |
|
45 |
ID |
$1,136 |
47 % |
$3,545 |
|
46 |
MS |
$1,056 |
36 % |
$3,990 |
|
47 |
NV |
$1,056 |
38 % |
$3,865 |
|
48 |
LA |
$923 |
35 % |
$3,570 |
|
49 |
AR |
$623 |
24 % |
$3,258 |
Results are based on a stratified sample of owner-occupied dwellings in each of nearly thirty-thousand ZIP codes drawn from MAISY Databases. State variations reflect "cost increases" rather than "price increases" determined by commuting distance and increases in gasoline prices and dwelling energy use and energy price increases.
"The geographic concentration of results and disparity across states is striking," said Dr. Jerry Jackson, author of the white paper. "States that had the highest energy costs in 2020 have suffered the greatest percentage price increases – a real double whammy. The greatest energy inflation is concentrated in eight northeastern states with California and Illinois rounding out the worst ten. Southern and Western States predominate the best ten. "
About the Author. Jerry Jackson is a former Signature Professor at Texas A&M University, Chief of the Applied Research Division at Georgia Tech Research Institute, and economist at Oak Ridge National Laboratory and the Federal Reserve Bank of Chicago. He is also President of Jackson Associates providing energy data and analysis to more than 200 clients including the US DOE, state agencies, utilities, solar companies and more. See https://maisy.com/clients.htm.
Contact:
Jerry Jackson
979-204-7821
342734@email4pr.com
SOURCE Jackson Associates
