How To Save On Your Next Electrical Bill

electrical meter
During the fluctuating temperatures in early fall, you may find your electricity on overdrive, trying to keep up with changing weather and your demands. While many can tell you to save on electrical costs by shutting off lights and turning off your AC when not in use (and these are very smart tactics), there are other ways to effectively cut costs that are a little more beneath the surface.

Inspect Your Electrical Bill and Electrical Company

The first step when trying to cut costs on your bill is to dissect your past and current electrical statement and determine what it may be that is costing your family or business the most money. Compare statements from other electrical companies if you can! You may be missing opportunities to save money, and some companies offer switching incentives. Find out if your electrical provider has an off-peak time of day, where charges are lower. If you feel that you may have hidden costs being tacked on to your bill, check your meter regularly yourself for the best accuracy.

Around-the-Home Energy Savers

Certain items around your home could be adding to the large amounts due on your electrical bill.

  • Seal cracks and creases around doors and windows where heat and cool air may be sneaking in or out.
  • Set your water heater at a lower temperature than it currently is. You may be draining funds just to keep stagnant water warm.
  • Move your fridge, freezer or any other cooling devices as far away from heat sources. This could be making electrical items work twice as hard to keep things cool.
  • Make good use of curtains, whether they be to block the sun from a room or to keep the cold air trapped near windows. They don’t always have to just be for beauty, make sure of their functionality as well.
  • Remember to avoid keeping an oven or a stove on for longer than it needs to be. This might seem like a no-brainer, but you may not realize how often you leave your stove on while trying to keep food warm. Toaster ovens work just fine!
  • Turn off your computer, lights, TVs, etc. at night or whenever you know for sure you won’t be using them.
  • Don’t wash dishes or clothes without a full load- you’re washing away money!

If You’re Ready To Make Purchases…

The above tips and tricks for your home can save you money, however, if you’re ready to make an even larger commitment to saving money you can start looking to make investments on energy saving items.

Energy efficient appliances and replacements are a great place to start, especially if you’re already looking to replace older appliances. Washers, dryers, dishwashers, refrigerators, freezers, stoves, ovens, windows, doors, etc. can all be purchased with energy efficient tacts that may seem like a heavy hitting purchase at first, but will pay off in terms of saving you money on a monthly bill. Look for the Energy Star label! According to the U.S. Department of Energy, Americans save enough energy to power 10 million homes, while saving $6 billion collectively in one year alone by implementing the use of energy efficient appliances. With new energy efficient appliances and doors/windows, you may even be eligible for certain tax deductions.

The easiest way to increase energy efficiency without wasting too much money is by switching your lightbulbs throughout your home. Try replacing the most used incandescent lightbulbs with CFLs (compact fluorescent lightbulbs). You may not notice that it uses 1/4 the amount of energy as an incandescent bulb, but you will notice that the new CFL bulb will last 10 times longer!

One of the best ways to control temperature within your home is to invest in a programmable thermostat. The Environmental Protection Agency claims that a U.S. homeowner can save an average of $180 per year with this type of thermostat. Typically, these don’t cost a large amount to purchase or install, so you’ll see the return on investment pretty quickly on a properly programmed thermostat. Look into timers for other electrical devices as well, especially indoor and outdoor lighting.

One large reason why your home could be wasting electricity is improper wiring. Faulty wiring can literally cause electricity to leak into nowhere, making your electrical system work harder, increasing costs.

If you have any questions on any of these money saving tips, or if you have tips of your own to add, comment below!

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