Fairbanks’ average household power rate is approximately 41.45 cents per kilowatt hour, which is 83.58 percent more than the average Alaska rate of 22.58 cents and 201.26 percent higher than the national average of 13.76 cents. Fairbanks residents use 1.60 percent less megawatt hours than the city produces. The community generates about 7.9 megawatt hours per capita from coal, which places them third out of 359 cities in Alaska.
Electricity use results in around 306,234,906.3 kg of CO2 emissions per year in Fairbanks. The city also has the third-worst emissions per capita in the state, with an average of 9,418.27 kg of CO2 emissions per person. With four total plants, the city has the third most electricity-producing plants of any city in Alaska.
What factor has the greatest impact on your electricity bill?
If you’re like most people, you probably don’t give your power bill much thought. You receive it from your utility, pay it, and then forget about it until the next month. But then you see that your bill has increased, or even doubled what gives?
Increasing energy bills are inconvenient. After all, your rent isn’t going to alter. Month after month, your car payment remains the same.
There are a variety of reasons why your power bill may rise or fall by $50 or $75 from month to month. However, there are a number of steps you may take to reduce your expense on a regular basis. The first step is to determine why your charge has increased. We’ll look at 12 common reasons for rising utility bills and what you can do about them in this article.
#1. Vampire sources draining power
When you leave the house, you switch off the lights, unplug your curling iron, and possibly lower the temperature to save energy. All of them are excellent ideas, but there’s a good probability you still have vampire sources sucking your power.
Appliances and electronics that are constantly plugged in are vampire sources. Consider the television, kitchen appliances, smart speaker, and computer. These gadgets and electronics constantly consume a little amount of energy. When you leave your computer charging or even if you leave the charger plugged into the wall without your computer connected to it it will continue to use energy long after it has been charged.
You are squandering both energy and money when this occurs. While vampire sources may not result in a $50 spike in your energy bill, they are modest electricity drains that mount up over time, particularly if you have a lot of them. According to the Lawrence Berkeley National Laboratory of the US Department of Energy, idle power accounts for around 10% of home electricity use. Over the course of a year, this can add up to more than $100 in energy bills.
Is there a straightforward solution? When you’re finished with a device, unplug it. Even if you aren’t actively utilizing them, they are consuming electricity quietly. And over time, that electricity adds up. Stop these vampire sources immediately now to avoid those small charges from adding up over time and increasing your energy bill.
#2. Inefficient lightbulbs
When it comes to lightbulbs, you have a lot of options these days: incandescent bulbs, halogen bulbs, compact fluorescent bulbs (CFLs), and light-emitting diode (LED) bulbs. All of these bulbs consume varying amounts of energy.
Incandescent lightbulbs and compact fluorescent lightbulbs (CFLs) radiate light and heat in all directions, wasting a lot of energy. Because LED lights emit light in a precise direction, they are much more efficient. They consume 75% less energy and last 25 times longer than typical incandescent bulbs, which means you’ll save money on bulbs and electricity in the long run.
Look for ENERGY STAR-certified LED lights the next time you need a lightbulb. These bulbs have been rigorously tested and meet stringent energy-saving standards, and they can help you save money on your power bill.
#3. Insufficient insulation
Your windows may not be as tightly shut as you believe, which might cost you a lot of money. Inadequate insulation may be the single most significant cause of excessive energy expenditures. Consider how hard your HVAC system works to keep your home at the temperature you want, especially if you live in a hot or cold environment. Warm or cool air will escape if your home is not properly insulated.
According to the North American Insulation Manufacturers Association (NAIMA), around 90% of existing homes in the United States are under-insulated. Attics, doors, and windows are some of the most problematic areas in homes, accounting for over half of all air leaks.
It’s simple to see how poor insulation might boost your monthly utility bill when you consider that heating and cooling your home accounts for more than half (54%) of your monthly utility bill. According to Dr. Jonathan Levy, Professor of Environmental Health at Boston University and principal researcher on NAIMA’s study, if all US homes were insulated to code, “residential electricity use nationwide would decline by around 5% and natural gas use by more than 10%.”
Check the external frames of your doors and windows for new caulking to prevent air leaks. You might also be interested in these suggestions for checking the insulation in other areas of your home.
Where does Fairbanks, Alaska’s electricity come from?
Alaska’s unusual geography has propelled development of its energy supply infrastructure power plants, power lines, natural gas pipelines, bulk fuel tank farms, and related facilities with 16 percent of the country’s landmass and less than 0.3 percent of the population.
In Southeast Alaska and the Railbelt, there are more than 150 islanded, stand-alone electrical systems serving small towns, as well as bigger transmission grids. The Railbelt electrical grid runs from Fairbanks to Anchorage and then to the Kenai Peninsula, supplying around 79 percent of Alaska’s electricity.
Why is power in Alaska so expensive?
Given Alaska’s vast and diverse energy resources, it’s difficult to see why electricity is so expensive there. Alaska, in fact, contains vast oil and gas deposits on the North Slope and continental shelf, as well as gas reserves in a variety of sites on land and the world’s cleanest coal in Healy. Southeast Alaska has substantial tidal variations in several sites that are appropriate for hydropower. Not to mention the numerous rain and glacier-fed rivers in Alaska. Various volcanoes can be found on the Aleutian Chain. Hot springs in Central Alaska provide access to the Earth’s heat. In the summer, the Sun shines nonstop in areas near and north of the Arctic Circle. Strong gusts are blowing across the Arctic Ocean. The boreal forest is a rich source of wood.
As a result, with so many resources to select from, one would believe that energy should be inexpensive.
Is it expensive to live in Fairbanks?
The cost of living in Fairbanks, Alaska is 33% more than the national average. The cost of living in any given place varies depending on a variety of factors such as your profession, the average pay in that area, and the real estate market in that area.
Is it true that leaving lights on increases your electric bill?
Contrary to popular belief, turning your lights on and off consumes no more energy than leaving them on.
One of the simplest methods to save electricity is to turn off the lights when you leave a room. Turning off the lights isn’t the only option to conserve energy on your home’s lighting, but it’s a great place to start.
How Turning the Lights On and Off Can Affect the Bulb
While turning the lights on and off has no effect on how much energy you consume, pushing the light switch quickly can shorten the life of any type of bulb.
Incandescent bulbs do not have a lifespan that is affected by turning them on and off. However, you’ve probably heard of incandescent bulbs’ inefficiency. Ninety percent of the energy used by an incandescent bulb is used to produce heat, with the remaining ten percent being used to produce light. A huge percentage of consumers are switching to LEDs and CFL bulbs for greater sustainability and energy efficiency.
What in a house consumes the most electricity?
The breakdown of energy use in a typical home is depicted in today’s infographic from Connect4Climate.
It displays the average annual cost of various appliances as well as the appliances that consume the most energy over the course of the year.
Modern convenience comes at a cost, and keeping all those air conditioners, freezers, chargers, and water heaters running is the third-largest energy demand in the US.
One of the simplest ways to save energy and money is to eliminate waste. Turn off “vampire electronics,” or devices that continue to draw power even when switched off. DVRs, laptop computers, printers, DVD players, central heating furnaces, routers and modems, phones, gaming consoles, televisions, and microwaves are all examples.
A penny saved is a cent earned, and being more energy efficient is excellent for both your wallet and the environment, as Warren Buffett would undoubtedly agree.
Is power in Alaska cheap?
Electricity Prices and Usage in Alaska In 2022, Alaska’s average home electricity rate will be 22.58 cents per kilowatt hour, 64.10 percent higher than the national average of 13.76 cents.
Why is Alaska’s gas so expensive?
The weather and inconsistency are another major factor that contributes to increased prices in Alaska. Weather creates a huge difficulty, especially during the colder months of the year, with shipping lanes as long as those carrying gas and oil to Alaska.
A big snowstorm in the wrong region might cause considerable transportation delays, driving up prices until new gasoline can be delivered.
This is also a major reason why gas becomes more expensive as you travel further away from densely populated places.
The more difficult it is to find gas and the more unreliable the roads leading to its destination, the more you’ll pay.
Unfortunately, there aren’t many viable options for lowering Alaskan pricing. Because the state is cut off from the rest of the country, it’s difficult to ensure supply, hence supply is continually low in comparison to demand. When you include in the increased costs of transporting fuel to Alaska, you’ve got a recipe for continually rising prices.
How Much Do Alaskan Gas Prices Fluctuate?
Although Alaskan gas prices are consistently higher than those in the lower 48, this does not indicate that they are consistent.
While gas prices in Alaska can be constant for months at a time, they are more susceptible to supply chain concerns than the rest of the country.
That implies that, in addition to the changes caused by shipping and weather concerns, Alaskan gas prices might rise much more when there is a shortage or when oil prices rise.
When gas prices fall, gas retailers are sometimes sluggish to pass on the savings to Alaskans, which means that prices in Alaska tend to stay higher for longer than the rest of the country.
The difference between average mainland pricing and Alaskan average prices is normally 10-20 cents, but in some isolated regions, it can be as high as a dollar per gallon.
How long does Alaska’s oil supply last?
In 2020, Alaska’s crude oil production averaged 448,000 barrels per day (b/d), the lowest level since 1976. Last year’s output was more than 75% lower than the state’s peak of more than 2 million barrels per day in 1988. As Alaska’s oil resources have matured, production has decreased in 28 of the 32 years since the state’s high. Alaska’s yearly oil production will drop by 4% in 2020, as part of a wider drop in US oil production.
The Trans-Alaska Pipeline System carries crude oil from Alaska’s North Slope to Valdez on the state’s southern coast. Because of lower output, pipeline deliveries have dropped. Oil moves more slowly in the pipeline due to lower oil volumes, and the time it takes to get oil from the North Shore to Valdez has grown from 4.5 days in 1988 to 18 days in 2020.
Many sections of the state, including the Arctic National Wildlife Refuge, have yet to be investigated for oil (ANWR). According to USGS estimates, the ANWR, which is located in the northeastern region of the state, possesses 10.4 billion barrels of crude oil. The Biden administration issued an executive order in January 2021 that put a temporary halt to federal oil and natural gas leasing in the ANWR.
Despite declining production, Alaska’s oil industry is the major contributor to the state’s economy. Alaska has neither a state income tax nor a state sales tax, relying instead on revenues from the oil and gas industry. In 2020, oil income accounted for more than two-thirds of the state’s budget. Despite the fact that Alaska’s economy is based on the oil and natural gas industry, the state produces only 4% of all oil produced in the United States. The Alaska Permanent Fund, which handles royalties the state collects from its mineral rights, mostly oil, has paid an annual dividend to every qualifying state citizen since 1982.
Alaska has the third highest per capita petroleum demand of any state. Except for Hawaii, Alaska consumed more petroleum for electricity generation in 2020 than any other state. Petroleum accounted for 16 percent of the state’s utility-scale energy, trailing only natural gas (38 percent) and hydroelectric power (14 percent) (31 percent ). For heating, one-third of the state’s households utilize petroleum products like fuel oil, kerosene, or propane.
Our State Energy Portal has additional state-level analysis for all sources of energy.
What is the minimum amount of money required to live comfortably in Alaska?
The average wage in Alaska is $58,710, according to recent statistics from the Bureau of Labor Statistics. However, if your annual income is less than that, you may be able to live comfortably in Alaska. In order to live comfortably, you need take home at least three times the cost of your monthly rent.
Because a one-bedroom apartment in Anchorage costs $1,187 on average, the ordinary Alaskan would need to earn roughly $4,000 before taxes to live comfortably. This equates to $48,000 each year.
Living in Alaska is undoubtedly a once-in-a-lifetime opportunity. There’s no reason why you can’t make a successful move to Alaska if you have the necessary budget to live comfortably in the state. Take our quiz to get started on your search for the perfect apartment in Alaska.