Beatrice Lang
How to Beat the High Cost of Living is a 1980 comedy film that revolves around three suburban housewives who, in the face of economic challenges, devise a plan to steal $1 million to combat inflation and supplement their alimony payments. The movie highlights the challenges of inflation and the high cost of living, which are still prevalent issues today. In the real world, individuals grapple with rising utility costs, particularly electricity bills, which significantly impact household budgets. This paragraph will explore strategies to tackle the high cost of living, specifically focusing on reducing electric company expenses.
| Characteristics | Values |
|---|---|
| Average electric bill for U.S. residential customers | $137 per month or $1,600 per year |
| Ways to lower the bill | Do an energy audit, adjust the thermostat, replace showerhead, purchase energy-efficient appliances, switch to LED lighting, take shorter showers |
| Water heater default temperature | 140 degrees |
| Lowered temperature | 120 degrees |
| Potential savings | 4-22% annually |
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What You'll Learn
Conduct a home energy audit
Conducting a home energy audit can help you identify areas where you can cut down on energy use and lower your utility bills. You can opt for a professional energy audit or conduct a basic audit yourself. Here's a step-by-step guide to conducting a DIY home energy audit:
Step 1: Check for drafts
On a windy day, close all the windows, exterior doors, and the chimney-flue damper. Light an incense stick and walk along the edges of windows and exterior-facing walls. If you notice the smoke blowing in a particular direction, it indicates a draft. You can use a similar method by placing a piece of paper in the door and trying to pull it out with the door closed. If it slides out without resistance, it means the gasket seal is not working properly, and cold air is escaping.
Step 2: Seal the gaps
If you've identified drafts and leaks, it's time to seal them. Scrape out any cracked or dried caulk, and apply a fresh layer of paintable acrylic latex. You can also use materials like caulk and weatherstripping to seal gaps around windows, doors, faucets, pipes, electric outlets, and wiring. Be cautious of potential indoor air pollution and "backdrafting" when sealing your home.
Step 3: Examine your appliances
Your choice of appliances and electronics, as well as how you use them, can significantly impact your energy costs. Identify the energy-intensive devices in your home, such as those with indicator lights, digital clocks, chargers, or AC power adapters. Consider putting these devices on power strips that can be switched off when not in use. Additionally, look for wear and tear on rubber gaskets, coils, and other components that may affect efficiency.
Step 4: Develop a plan
After your DIY home energy audit, create a plan to implement improvements. Prioritize the changes that will have the most significant impact on reducing your energy costs. Consider factors such as the age and quality of your current equipment, the local climate, and your specific energy goals.
Taking it further:
While a DIY home energy audit can provide valuable insights, a professional energy assessment is more comprehensive and accurate. They use specialized tools like infrared cameras and blower doors to detect energy loss. Consider contacting your energy utility or a certified professional auditor for a more detailed analysis and recommendations. Government incentives and tax credits may also be available to offset the cost of a professional energy audit and any necessary upgrades.
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Adjust your thermostat
Adjusting your thermostat is a simple yet effective way to reduce your electricity bill. Heating and cooling systems are some of the biggest contributors to high electricity costs, so making small changes to your thermostat settings can make a significant difference.
Firstly, it is important to understand the impact of temperature settings on your energy usage. For every degree you lower your thermostat during the winter, you can save up to 5% on your heating bill. Similarly, during the summer, raising your thermostat temperature by a few degrees can help reduce cooling costs.
To optimize your energy savings, consider adjusting your thermostat based on the time of day and your presence at home. When you are away from home or asleep, adjust the thermostat to a more economical temperature. For example, in the winter, you can lower the temperature by a few degrees when you leave for work or at night before going to bed. Similarly, in the summer, you can raise the temperature setting during the daytime when the house is empty or at night when it is cooler.
Smart thermostats or programmable thermostats can be extremely helpful in this regard. These devices allow you to automatically adjust the temperature according to a preset schedule, ensuring that you are not wasting energy when it is not needed. Additionally, you can also make manual adjustments as needed to suit your comfort level.
Finally, remember that even small adjustments can make a difference. You might not notice a huge change by adjusting the thermostat by one or two degrees, but it can help you save a significant amount on your electricity bill over time.
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Purchase energy-efficient appliances
If you're in the market for a new appliance, it's worth considering an energy-efficient model. While they may be more expensive upfront, they will save you money in the long term by reducing your energy costs. Appliances with a high energy efficiency rating will also help to reduce your carbon footprint by minimising the amount of fossil fuel they consume.
When shopping for energy-efficient appliances, there are a few things to keep in mind. Firstly, measure the space you have available to ensure your new appliance will fit, with enough room to open doors and lids fully, and adequate clearance for ventilation.
Next, consider both the purchase price and the estimated energy use of the appliance. In some cases, you may save money by opting for a more expensive, more energy-efficient model. Look out for special offers, cash rebates, low-interest loans, or other incentive programs that are often available to encourage the purchase of energy-efficient appliances.
When comparing appliances, look for the Energy Star logo, which indicates that the appliance is significantly more energy-efficient than the average comparable model. The Energy Star program is operated by the U.S. Department of Energy and the Environmental Protection Agency (EPA), and their logo can be found on appliances like washers, dryers, refrigerators, dishwashers, and room air conditioners.
In addition to the Energy Star logo, every large appliance will have an energy rating label, which indicates how much energy the appliance will use to run. Most appliances are rated on a scale from A to G, with A being the most energy-efficient. Some products, like tumble dryers and ovens, are still rated using the old scale of A+++ to D, but this is being phased out.
By choosing energy-efficient appliances, you can save a significant amount on your utility bills. For example, a dishwasher with the EPA's Energy Star label uses 12% less energy and 30% less water on average than a regular model. Similarly, washing machines with energy-saving functions, such as those that use cold water, can also help reduce energy consumption and costs.
In addition to purchasing energy-efficient appliances, you can also reduce your energy costs by using an electricity monitor to check for hidden energy loss, and by switching off appliances at the wall when they're not in use, as many appliances continue to use energy in standby power mode.
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Ask about discounted rates
Utility costs, especially electricity bills, tend to make up a significant part of household budgets. The average electric bill for U.S. residential customers in 2023 was $137 per month (or about $1,600 a year). If you're looking to reduce your electricity bill, one of the first things you should do is ask about discounted rates.
Discount Power, for example, is a retail electricity provider that offers competitive rates and a variety of plans, including eco-friendly options. They have a range of fixed-rate, variable-rate, and green energy plans. Fixed-rate plans provide stable rates for the duration of the contract, while variable rates fluctuate with market prices. Green energy plans include renewable energy sources. Discount Power also offers month-to-month enrollment and special discounted rates for energy savings during nighttime hours, which is ideal if you consume more energy at night.
Additionally, some utility providers offer cheaper rates during off-peak hours, such as early in the day or late at night. You can ask your power company about a time-of-use rate plan to take advantage of these discounted rates. For instance, in California, electrical corporations with 100,000 or more customer accounts are required to offer a 30% to 35% discount, while those with fewer than 100,000 accounts offer a 20% discount. These discounts are funded through a rate surcharge paid by all other utility customers.
Don't hesitate to reach out to your utility company to inquire about discounted rates or other cost-saving opportunities. Speaking to a customer service representative can help you identify rebates, assistance programs, and payment plans that may be available to you.
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Switch to LED lighting
Keeping the lights on can account for roughly 15% or more of a home's energy usage. Switching to LED lighting is a great way to reduce this cost. LED lights are more energy-efficient than traditional incandescent bulbs, using up to 90% less energy. They also last much longer, so you won't need to replace them as often.
When switching to LED, it's important to consider the colour temperature you prefer. LED bulbs come in a range of colours, from warm white to cool white, so you can choose the lighting that suits your space and activities. For example, you might prefer a warmer, cozier light in the bedroom and a cooler, brighter light in the kitchen.
It's also worth noting that LED bulbs are available in different shapes and sizes to fit a variety of fixtures, from standard lightbulbs to spotlights and tubes. So, you can switch to LED lighting throughout your home.
To maximize your savings, look for LED bulbs with the Energy Star label. These bulbs have been certified by the EPA to save energy and reduce your carbon footprint. They may cost a little more upfront, but they will save you more money in the long run.
By making the switch to LED lighting, you can significantly reduce your electricity costs and enjoy the benefits of energy-efficient, long-lasting lighting.
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Frequently asked questions
There are several ways to reduce your electricity bill. You can do an energy audit, adjust your thermostat, fridge, and freezer temperatures, take shorter showers, replace your showerhead, and wash your clothes in cold water.
You can adjust the temperature on your water heater, purchase energy-efficient appliances, and switch to LED lighting.
Yes, you can install dimmer switches, use smart power strips, and ask your power company about discounted rates or a time-of-use rate plan.
You can speak to a customer service representative from your utility company to identify rebates and assistance programs, or ask about a payment plan.
