Electrical appliances are expensive.
In fact, in 2018, the cost of an electrical appliance rose an average of 4.6% year over year.
If you were to add the cost for installation, the total cost of purchasing an electrical item is $7,567.
That’s up from $6,838 in 2018.
That includes the cost to purchase the electrical equipment itself, which jumped by $724 in 2018 to $9,721.
The average price of an appliance increased $5,000, or 0.6%, from 2018 to 2019.
This is partly due to a higher number of appliances that require installation, as well as an increase in the number of manufacturers that are able to sell their products to consumers.
However, there are many other reasons why electricity bills can be a huge burden.