Residents in Hancock County, IL who request quotes on the EnergySage Marketplace spend an average of $219 monthly on electricity. That adds up to $2,628 per year. A different way to look at it is that a typical Hancock County, IL resident uses 1,384 kWh of electricity per month and 16,608 kWh over the year.
(For what it’s worth: Hancock County, IL residents shopping for solar on EnergySage may use more electricity than a typical household.)
The easiest way to compare electricity costs across regions is to look at the electricity rate. In the U.S., residential rates generally range from 11 ¢/kWh all the way up to 34 ¢/kWh.
As of February 2026, the cost of electricity in Hancock County, IL is 16 ¢/kilowatt-hour (kWh)—roughly 20% lower than the national average cost. That number is based on real-world electric bills shared with EnergySage over the past 12 months. You can compare that number to the most recent average state electric price reported by the U.S. Energy Information Administration (EIA).
In Illinois, there are three primary electricity companies that provide transmission and distribution: ComEd, Ameren, and MidAmerican Energy. These companies are Investor Owned Utilities (IOUs).
Some towns and cities in Illinois obtain power from municipally owned electric companies. These nonprofit organizations often offer lower rates and don't face the same requirements as IOUs, but they typically don't give you benefits like net metering.
The electricity market is deregulated in Illinois. While you can't choose your utility company, this means you can choose the company that supplies your electricity, which usually gives you some room to save money on your electric bills.
It's also possible to participate in Community Choice Aggregation (CCA) programs. These programs allow you to participate in a group-buying program and can often help you get electricity at lower rates than standard utility prices.
If you find a better plan, our partner WattBuy will contact your utility provider to switch you for free.
When you pay your electric bill, you’re not only covering the costs to produce that electricity, but also the costs of running and maintaining the electrical grid, as well as public benefit funds that promote things like renewable energy and energy efficiency.
Electric bill costs are rolled into fixed (monthly customer charges) and variable charges (¢/kWh that you use).
Fixed charges, like the flat fee for having a meter, generally remain the same monthly unless your utility makes a policy update.
Your variable charges will change every month and depend on your electricity rate and how much electricity you use.
Your electric bill's variable charges will include a supply (or generation) charge and a transmission and distribution (or delivery) charge. The supply charge covers the cost of electricity generation, while the transmission and distribution charges cover the cost of delivering it to your home.
Most Illinoisans can sign up for variable-rate plans, like time-of-use (TOU) rates or demand charge plans. For example, ComEd offers an Hourly Pricing program, which is essentially a TOU plan. The plan includes Capacity Charges, which are ComEd’s form of demand charges. You can also choose to pay a set price for electricity with ComEd’s standard fixed-price rate.
How clean is the electricity in Illinois?
It's hard to pin down a specific number, but according to the U.S. Energy Information Administration, as of August 2025, Illinois gets 38% of the electricity on its utility grid from fossil fuels, with 22% coming from natural gas and 16% from coal. Meanwhile, 51% comes from nuclear power and 11% from renewable sources. So if you go solar in Illinois, you can almost certainly shrink your carbon footprint.
Plus, depending on your electricity supplier, you can choose to pay a little bit more to ensure that most (or even all) of your electricity comes from renewable sources. While this often won't help you save any money (though it's possible if you participate through certain municipal group-buy programs), it's a good option if you want to reduce your carbon footprint but are unwilling or unable to install solar panels.
As long as you have a suitable roof, one of the surest ways to save on energy is to go solar—ideally with a vetted contractor offering a competitive price.
Solar panels will reduce or even eliminate your electric bills in the short term and protect you against rising electricity costs in the long run, too. The amount you save depends on how much you spend on electricity now and how much of your electric bill you can offset with solar energy.
Solar panels are a big investment, but Hancock County, IL homeowners who install them—and pay upfront—break even after an average of just 5.14 years. Then, the solar panels will continue to produce free electricity for years to come.
Does Illinois offer net metering?
When the sun is bright, your solar panels will usually generate more than enough electricity to satisfy your home's needs at any given moment. With net metering, that extra energy won’t go to waste.
But as of January 1, 2025, Illinois has transitioned to a supply-only net metering model for new solar installations, which is unfortunately less valuable than regular net metering.
Under this new solar buyback program, you earn energy credits for the solar energy you send to the grid. But those credits will only apply to the supply portion of your bill (not delivery or taxes/fees).
How much can you save with solar?
With great state incentives available in the Prairie State, going solar in Hancock County, IL can help you save big.
Just take a look at how much you'll spend on electricity over time based on your current bill. It’s easy to see how going solar can pay off quickly.
Electricity cost over time in Illinois
Current monthly electric bill | 10-year electricity cost | 20-year electricity cost | 30-year electricity cost |
|---|---|---|---|
$50 | $6,900 | $16,000 | $29,000 |
$100 | $14,000 | $32,000 | $57,000 |
$150 | $21,000 | $48,000 | $86,000 |
$200 | $28,000 | $64,000 | $110,000 |
$250 | $34,000 | $81,000 | $140,000 |
Assuming a 3% annual increase based on inflation and average annual electric rate increases in Illinois.
Let's assume you pay $219 for electricity monthly (the Hancock County, IL average) and that electricity prices increase by 3% annually. Let's also assume you buy your solar panel system upfront and that it costs you $36,000 before any available incentives.
In the first year with solar, you'll avoid spending $2,600 on electric bills. Over five years, you'll avoid $13,900; by 10 years, you'll have avoided $30,100. Solar panels are usually covered under warranty for 25 years—by then, you'll have avoided spending $95,800 on electric bills in Hancock County, IL.
The average payback period in Hancock County, IL is 5.14 years, so by this point, you've already broken even on your investment. When you subtract your upfront installation cost, you'll pocket $60,000 over 25 years with solar.
Your solar savings depend on you
How much your utility company charges for electricity is a big indicator of how much you'll save with solar. But your exact solar savings depend on your unique situation—including your energy usage, roof layout, system size, and how you pay for your system.
Here are some reasons your savings could be below average:
You don’t use much electricity, or your roof is small or has a less-than-ideal layout. You might have a relatively long payback period, so you'll save a little less over time.
You don't install enough solar panels to 100% offset your energy use. You’ll pay less up front but save less in the long run.
You finance your solar panel system with a loan or sign a lease or power purchase agreement (PPA) instead of paying up front. These types of arrangements can make a lot of sense for keeping your capital flexible and will allow you to start saving sooner. But they will cut into your long-term savings.
Choosing a high-quality solar installer is the key to getting a top-notch solar panel system that will help you save on electric bills.
We pre-screen all solar companies on EnergySage to ensure they get the job done right. Here are the highest-rated EnergySage installers in Hancock County, IL:
Elite+ InstallerScreened & Verified5.0 /5.0500 Reviews
Elite+ InstallerScreened & Verified4.8 /5.0363 Reviews
Elite InstallerScreened & Verified4.8 /5.020 Reviews
Elite InstallerScreened & Verified4.8 /5.066 Reviews
Elite InstallerScreened & Verified4.7 /5.056 Reviews
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