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Americans Spent Over $22 Billion More on Electricity the Past Year

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Ownerly examines which states saw the largest increase in electric bills the past year, as energy inflation hit a 40-year high.

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Jan 5, 2023

In 2022, American consumers faced the highest electricity costs in more than 40 years, due to inflation, a rebounding economy and fuel-related repercussions from the Ukraine war. It appears the worst is not over. A newly released study from Ownerly, a leading home and property value estimation platform, analyzed 12 months of Energy Information Administration (EIA) data and found the increase in out-of-pocket consumer spending exceeded 22 billion—not all related to an increase in usage.

Ownerly examined electricity price data between October 2021 and September 2022 to identify which states paid the most in 2022, which states saw the greatest percentage increase from the previous year and where overall electric costs increased the most. The time period of our analysis also coincides with the highest inflation rates Americans have seen in four decades.

“The last six months have been even worse for residential energy bills than the previous six months,” said Ownerly data analyst Darcy McCusker. “Nine states including Hawaii, Texas, Oklahoma and New Hampshire have had increases of $30 or more per month since April alone, and just over half of all states have seen a percentage increase of at least 10%.” 

Key takeaways

  • Hawaii and Connecticut had the highest monthly electric bills in 2022; Utah and New Mexico had the lowest. Hawaiians paid on average $210.26 a month, followed by  Connecticut ($173.16), Alabama ($164.62), Georgia  ($153.45) and Texas ($152.83).
  • Hawaii had the greatest dollar increase in energy costs, but Maine had the highest bill increase. While monthly bills went up $38.08 in Hawaii, Maine saw the highest bill increase over the 12 months we examined, paying 31.26% more monthly than the previous year. 
  • Prices in Wyoming and Oregon actually dropped in 2022. Not all states saw a monthly rise in electric bills: monthly average bills dropped slightly in Wyoming (-79¢) and Oregon (-24¢). 

These bills also include higher electricity usage during the summer months. “So many of the colder states that use more energy in the winter than the summer, like North Dakota, Tennessee and West Virginia, could see those same increases this winter,” McCusker said. 

The EIA also expects US energy prices to remain high into 2023.

Find the full study and a breakdown by state here: https://www.ownerly.com/data-analysis/best-worst-states-electric-bills

How to lower your electric bills

The following energy-saving tips can help lower electric bills without necessarily requiring costly retrofits or remodeling. 

  • Be mindful of maintenance. Keep appliances running efficiently by periodically vacuuming under your refrigerator and changing your HVAC filter, among other things. Home appliances consume less electricity when they are properly maintained. 
  • Look at your lighting. Invest in energy-efficient LED bulbs and use translucent lampshades to maximize their performance. Motion sensors can be connected to your lamps to turn them off when not in use. This can also be accomplished with smart bulb schedules and automation.
  • Ask your provider for an energy audit. Many utility companies offer free consultations for ways to help lower your energy bills. Also, many states offer incentives for energy efficiency. Check the Database of State Incentives for Renewables & Efficiency and plug in your zip code to find programs in your area.
  • Check for available rebates. Some cities or energy providers may offer rebates to homeowners who use smart thermostats, energy-efficient appliances, smart lighting or other energy-saving technologies. Reach out to your bill provider and ask if there are any rebates or incentives available to you.

Costlier home modifications can generate bigger energy savings, but may not pay for themselves in the near term. If you happen to be remodeling anyway, some energy-conserving upgrades to consider include:

  • Adding more insulation to retain indoor heating and cooling
  • Swapping in energy-saving appliances
  • Installing energy-efficient doors and windows
  • Improving your HVAC system

Find more tips here on How to Save Energy at Home

Methodology

To determine monthly electric bills by state, Ownerly examined residential estimated electricity use and sales data from the US Energy Information Administration from October 2018 through September 2022. For the purposes of this study, 2022 refers to energy prices and usage from October 2021 through September 2022. Note that statistics do not include any customer service charges from providers.

About Ownerly

Ownerly provides homeowners, buyers and sellers with professional-grade home values used by real estate agents, banks and lenders. With Ownerly, users get important home sales insights and can track the value of their single most important investment—their home.

For more information or press inquiries, please contact Kerry Sherin ([email protected]).

Source: Ownerly

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Breakthroughs and Challenges: The Latest in Scientific Advancements

A roundup of the latest scientific advancements, exploring breakthroughs and the challenges that lie ahead.

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In a notable development, Dr. Emily Carter, a leading researcher at the National Institute of Health, announced a significant breakthrough in the field of gene therapy. On September 10, 2026, she revealed that her team successfully edited genes in living organisms to eliminate hereditary diseases. This advancement holds the potential to revolutionize medical treatment, offering hope to millions suffering from genetic disorders. However, it also raises ethical concerns about the extent of human genetic modification and its long-term impacts.

Simultaneously, the European Space Agency (ESA) has made strides in space exploration with the launch of its latest satellite, Euclid. Launched on September 8, 2026, Euclid aims to map the universe’s dark matter and dark energy, key components that constitute most of the cosmos. This mission could unravel the mysteries of the universe’s expansion and provide insights into the fundamental nature of existence. The ESA emphasizes the importance of international collaboration in this endeavor, as understanding dark matter and energy requires global scientific cooperation.

In the realm of renewable energy, SolarTech Innovations reported a breakthrough in solar panel efficiency on September 12, 2026. Their new technology purportedly increases the energy conversion rate by 25%, potentially transforming the solar energy industry. This advancement could accelerate the shift towards sustainable energy sources, reducing reliance on fossil fuels. However, questions remain about the scalability of this technology and its economic viability for widespread adoption.

Meanwhile, the agricultural sector witnessed a milestone with AgriBio’s development of drought-resistant crops. Announced on September 7, 2026, these genetically engineered plants could enhance food security in regions prone to extreme weather conditions. The company states that these crops can withstand prolonged periods without water, ensuring stable yields. Critics, however, caution about the ecological implications and the potential for unintended consequences on biodiversity.

Lastly, the tech industry is abuzz with the unveiling of QuantumNext’s quantum computing system. Revealed on September 11, 2026, this system reportedly performs calculations at unprecedented speeds, paving the way for advancements in fields like cryptography and complex data analysis. While the potential applications are vast, experts debate the readiness of existing infrastructure to support such technology and the security challenges it may pose.

These scientific advancements highlight the dynamic nature of innovation and the diverse challenges accompanying progress. Each breakthrough presents a spectrum of opportunities and ethical dilemmas that require careful consideration. As these developments unfold, stakeholders from various sectors must engage in dialogue to navigate the complexities they entail.

Looking forward, the scientific community faces the task of addressing the practical and ethical questions these innovations raise. Continued research, open discourse, and policy-making will be crucial in harnessing the benefits of these advancements while mitigating their risks. The next few months will likely see increased scrutiny and discussion as these technologies move from the laboratory to real-world applications.

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Momentum Builds to Curb AI Development Amid Safety Concerns

Tech leaders advocate for slowing AI progress to mitigate risks and ensure safety.

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On September 13, 2026, Elon Musk made headlines once more, but this time it wasn’t about electric cars or space exploration. Musk, along with OpenAI co-founder Sam Altman and Anthropic CEO Dario Amodei, has taken a stand urging for a slowdown in the rapid development of artificial intelligence. The trio’s call to action reflects a burgeoning movement within the technology community. The aim is to ensure that AI advancement does not outpace the necessary safety measures that must be in place to protect society. Musk, known for his outspoken concerns regarding AI, has been vocal about the potential existential threats posed by unchecked AI development. His stance is not without precedent. In past years, he has been an advocate for AI regulation, emphasizing the importance of establishing robust safety protocols. Sam Altman shares this concern. As a key figure in AI innovation, Altman’s support for decelerating AI progress highlights the industry’s internal awareness of its own vulnerabilities. Altman has been instrumental in shaping AI discussions, both as a developer and a policymaker. His involvement underscores a critical shift in perspective among those who once championed AI’s limitless potential.

Dario Amodei’s call for a slowdown adds another layer of urgency. As CEO of Anthropic, Amodei’s insights into AI’s capabilities are profound. He has long advocated for responsible AI development, emphasizing research into AI safety and alignment. His company, Anthropic, is at the forefront of AI safety research, making his voice particularly influential. Amodei’s concerns are grounded in the belief that AI systems need to be designed with alignment and transparency as core principles. The consensus among these leaders is clear. The pace of AI development must be moderated to prevent potential societal disruptions. The public discourse around AI safety has evolved significantly over the past few years. Initially, concerns were often dismissed as speculative or alarmist. However, as AI systems become more integrated into daily life, their impact is undeniable. From autonomous vehicles to intelligent personal assistants, AI technologies influence countless aspects of modern existence. The rapid integration has outpaced regulatory frameworks, leaving gaps that could potentially be exploited.

This movement to slow AI development is gaining traction within the tech community. It reflects a deeper understanding of the potential risks and ethical considerations that come with advanced AI systems. Industry leaders are increasingly aware of their responsibility to mitigate these risks. There is a growing consensus that more comprehensive safety measures and regulatory oversight are necessary. The call for a slowdown is not a demand to halt innovation. Rather, it is a plea for a more deliberate approach to AI development. The goal is to establish a regulatory framework that prioritizes safety, ethical considerations, and long-term societal impact. This approach seeks to ensure that AI technologies are developed responsibly and with foresight. The motivation behind this push is multifaceted. At its core is the desire to prevent unintended consequences that could arise from unchecked AI advancement. These include potential job displacement, privacy concerns, and the risk of AI systems being used for malicious purposes. The tech industry is increasingly aware that the societal implications of AI are vast and complex. There is a recognition that addressing these challenges requires collaboration across sectors and disciplines.

The momentum to slow AI development also reflects a shift in how technology leaders view their role in society. There is a growing acknowledgment that technological innovation must be balanced with ethical responsibility. This recognition is driving the call for more stringent safety protocols and regulatory oversight. As the debate around AI continues, the voices advocating for caution are becoming more prominent. The movement is gaining momentum, supported by influential figures and organizations committed to ensuring that AI development proceeds safely and responsibly. The challenge now is translating this momentum into actionable policies and frameworks. Governments and regulatory bodies must work closely with industry leaders to develop comprehensive guidelines that address the unique challenges posed by AI. This collaboration is essential to fostering innovation while safeguarding societal interests. The path forward requires a collective effort to balance progress with prudence. As AI continues to evolve, the need for thoughtful and responsible development becomes increasingly critical. The calls to slow down AI development are a testament to the industry’s commitment to navigating this complex terrain with care.

The journey ahead is not without challenges. Implementing effective regulatory measures will require cooperation and consensus among diverse stakeholders. However, the growing momentum to address AI safety concerns offers hope for a future where technological advancement is aligned with societal well-being. As industry leaders and policymakers work together, there is potential to shape a future where AI technologies enhance, rather than disrupt, the fabric of society. The commitment to responsible AI development is key to ensuring that AI technologies are harnessed for the greater good. This forward-thinking approach will be crucial in defining the next chapter of AI innovation. The momentum to slow down AI development is more than a precautionary measure. It is a strategic decision to prioritize safety, ethics, and long-term impact. As the conversation around AI continues to evolve, the focus on responsible development will remain at the forefront. The future of AI depends on the choices made today. By embracing a more measured approach, the tech community can pave the way for a future where AI serves humanity’s best interests.

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Quantum Computing Breakthrough: Data Security Implications

MIT’s new quantum algorithm could revolutionize data processing, posing significant challenges for current cryptographic systems. This article explores the implications for data security and potential solutions to counteract quantum threats.

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The recent breakthrough in quantum computing by researchers at MIT marks a pivotal moment in the field of data security. On August 19, 2026, Nature published the details of a new quantum algorithm capable of processing data at speeds previously unimaginable. While this innovation holds enormous potential for advancing machine learning and other computational fields, it simultaneously presents a formidable challenge to the current cryptographic systems relied upon to safeguard sensitive information.

At the core of contemporary data security is the reliance on encryption techniques that depend on the complexity of certain mathematical problems, such as the factoring of large numbers, which are currently infeasible for classical computers to solve within a practical timeframe. However, quantum computers, with their ability to perform calculations exponentially faster than traditional machines, threaten to render these encryption methods obsolete. This development could have profound implications for sectors that prioritize data security, including finance, healthcare, and government, where sensitive data is at risk of exposure.

The immediate concern for cybersecurity experts is the potential for quantum computers to crack widely used encryption protocols, such as RSA and ECC, which form the backbone of secure internet communications. The computational power unleashed by quantum algorithms could theoretically decrypt encrypted data in a fraction of the time required by classical computers, leaving digital communications vulnerable to interception and exploitation.

In response to this looming threat, researchers and industry experts are actively exploring the development of quantum-resistant algorithms. These algorithms are designed to withstand the capabilities of quantum computing, ensuring the confidentiality and integrity of data even in a post-quantum world. Efforts in this direction include the study of lattice-based cryptography, hash-based signatures, and multivariate polynomial equations as potential foundations for secure encryption systems.

The urgency to develop and implement quantum-resistant cryptography is underscored by the rapid pace of advancements in quantum technology. Tech companies, governments, and academic institutions are investing heavily in research to safeguard their data infrastructures against quantum threats. The transition to quantum-resistant systems, however, is not without its challenges. It requires a comprehensive overhaul of existing cryptographic frameworks and widespread adoption across industries, a process that demands both time and resources.

Despite these challenges, the potential benefits of quantum computing in fields such as artificial intelligence, pharmaceuticals, and materials science cannot be overlooked. The same capabilities that pose a threat to data security also offer the promise of unprecedented advancements in computational power, enabling breakthroughs that were previously beyond reach.

As the world stands on the brink of a quantum revolution, the dual-edged nature of this technological leap is clear. While the security of our digital world faces new threats, the opportunity for innovation and progress is equally profound. The path forward will require a concerted effort to balance the risks and rewards of quantum computing, ensuring that the transformative potential of this technology is harnessed responsibly and securely.

In the coming years, as quantum technologies continue to evolve, the focus will be on developing robust standards for quantum-resistant cryptography and fostering collaboration between academia, industry, and government to navigate this new frontier. The race to secure our digital future in the face of quantum capabilities is not just a technical challenge but a strategic imperative that will shape the landscape of cybersecurity for decades to come.

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