As Electricity Bills Rise, Homeowners Look to Lower Costs

Energy Bills are on the rise, and many consumers are looking for ways to lower their electric bills to save money. In addition, frugal homeowners are searching for even more ways to save money on utility bills this winter.

How To Lower Your Electric Costs

Turn Down the Heat or Lower your AC

Rhea Henry from EnergyRates.ca says that turning down your heat or lowering your A.C. is one of the best ways to use less electricity. If you don’t have a fixed rate for electricity or have deregulated utilities in your area, the amount you pay on your electricity bill might vary month-to-month. The amount of money you can save by switching off appliances depends on how your municipality manages the utilities.

Switch From Incandescent Bulbs to LED Bulbs

According to NRCan, 4% of your electricity is lighting. A standard incandescent bulb uses roughly 60W of electricity and costs approximately $5 per year in electricity costs, while an LED uses 9.3W and costs just $1. So just by switching out lightbulbs in your home, you’re cutting a tenth of the energy on this part of your utilities.

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Seal and Insulate your Property

An adequately insulated house will require less energy to keep cool in the summer and warm in the winter months. According to EPA information, when you seal and insulate your property, you may save as much as $200 or 10% off your overall utility expenses. In addition, cooling and heating Equipment account for 49 percent of your home’s energy costs.

Turn Off Appliances you are not Using

Take these stats as an example, the average home printer runs on 4 watts of power on standby, and the average cost of electricity across the USA is $0.125/kWh. That will save you $4.38 per year for one appliance. If you live in a state with high electricity costs, such as Alaska or Hawaii or anywhere in New England, you can double that cost.

Read more about how combat rising electricity costs