Climate Changed
Power Bills Are Eating Up Less of Your Paycheck Than Ever
- Spending on electricity was 1.3% of 2017 personal consumption
- Shift from manufacturing makes economy more energy-efficient
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Photographer: Daniel Acker/Bloomberg
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Americas are spending the least of their paychecks on electricity in at least 58 years as gains in energy efficiency leave more for food, vacations and gadgets.
Consumer spending on electricity fell to 1.3 percent of personal consumption in 2017, the lowest in records dating to 1959, according to a report Thursday from Bloomberg New Energy Finance and the Business Council for Sustainable Energy. That’s down from a peak of 2.3 percent in 1982.