Did you know that the average American spends more than $115 per month on electricity, which can add up to $1,380 per year?
That is a fair chunk of your income going towards your electric bill.
Electricity bills can be hard to understand, which can make it hard to determine what you can do to reduce your costs. Not to mention, every home and family has a different energy profile. Someone living in an average 915-square-foot apartment in a city will have a much different profile than a person living in a 2,500-square-foot home on a farm.
The good thing is there are many ways you can reduce your electricity costs no matter where you live.
Let's dive in and take a look.
One of the best ways to cut down on your electricity costs is to purchase energy-efficient appliances. While doing so has short-term costs attached to it, it can save you a lot of money in the long term.
Plus, if you’re already in the market for a new refrigerator, washer/dryer, or water heater, why not go with one that is as efficient as possible?
Look for appliances with the ENERGY STAR label. Not only are these far more efficient when it comes to electricity, but many of them are also more efficient when it comes to water.
For example, a dishwasher that has an ENERGY STAR label must only use 3.5 gallons of water or less for each cycle. Compare that to a regular dishwasher, which can easily use up to 10 gallons of water for each cycle, and you can see how ENERGY STAR appliances help you save money in the long run.
For starters, check the seals on your fridge to make sure that it is completely sealed. Without a complete seal, your refrigerator or freezer will have a hard time keeping cold air inside. This means it will consume more electricity trying to maintain the cold temperature. It will also cause more stress on the compressor, leading to a shorter lifespan for your appliance.
You should also check the seals on your windows and doors. If your seals are old and worn, the air inside your home can leak out, meaning your HVAC system will have to do more work. You can save 11% on your energy bill by sealing your home properly.
When you're sleeping or away from your home, try lowering your thermostat around 7 to 10 degrees. Having your thermostat in an efficient setting for even eight hours can substantially lower your heating and cooling costs. You can lower your electricity bill around 10% by adjusting your thermostat while you are away.
You may even consider trading out your old thermostat for an efficient thermostat that can do all of the work for you. There are many smart thermostats on the market now, so make sure to do your research!
Your freezer should be set between 0 and 5 degrees, while your fridge should be set to around 38 degrees. Not only will this still keep your food nice and fresh for a long time, but your fridge and freezer won’t have to work nearly as hard to maintain the internal temperatures.
One extremely easy way to cut back on your electricity costs is by running your appliances at night. Most people are awake and using appliances and electricity from around 5 PM to 9 PM. For this reason, many utility companies will charge premiums during these hours. If you are using electricity during peak-use hours, you could end up spending way more than you need to spend.
Most electricity companies have significantly lower rates during off-peak hours. Make sure to study up on your particular utility company to determine when the peak and off-peak hours are.
When it comes to the lighting in your home, you can make much more efficient choices. At this point, you’re probably more than familiar with LED light bulbs. However, if you have yet to make the transition from your old-school incandescent light bulbs to LEDs, now is the time to start!
Did you know that LED light bulbs use up to 75% less energy than incandescent bulbs? They even last up to 25 times longer!
There is truly no excuse for NOT switching your light bulbs out.
The furnace in your home needs regular maintenance to perform at peak efficiency. Not only does having a dirt-clogged filter cut down on efficiency, it can also potentially damage your entire HVAC system. With a dirty filter, your HVAC system will have to work much harder to pump air throughout your home.
It’s important to change out your filter at least once per month if you want to reduce your energy costs and keep your system in check.
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Hot water heating is the second largest category of electricity consumption in a household. You can cut down on your electric bills significantly by installing a solar water heater. The EPA estimates that solar water heaters can save you anywhere from 50% to 80% on your hot water heating costs, about $275 per year on average. It’s pretty clear that installing a system like this is beneficial.
Every small change you make can amount to a significant change to your electric bill. If you follow these steps, you will save money in the long run.
You might also want to consider switching to an electricity plan that better suits you and your family’s needs. Here at WattBuy, we’ve helped thousands of Americans find electricity plans that work with their preferences, lifestyles, and budgets. If you’re interested in slashing your electricity bills, it’s as easy as getting in touch with us today!