Beatrice Lang
Electric companies often request to raise their rates, which can be a significant cause for concern for those on fixed incomes. While there are many reasons for rate increases, such as the need to make repairs or keep up with the cost of living, there are ways to keep electricity prices down. For instance, switching energy providers is simple and can be done by comparing rates and choosing the best plan. Additionally, conducting an energy audit can help identify ways to reduce energy usage and lower costs. Implementing energy-saving measures, such as adjusting thermostats and water heater temperatures, can also help reduce electricity bills.
| Characteristics | Values |
|---|---|
| Switch to LED lighting | Save around $225 per year |
| Install dimmer switches | Save electricity |
| Use smart power strips | |
| Purchase energy-efficient appliances | |
| Adjust your thermostat | Save up to 10% on annual heating and cooling costs |
| Adjust your fridge and freezer temperature | |
| Keep up with routine maintenance | |
| Take shorter showers | |
| Replace your showerhead | |
| Wash clothes in warm or cold water | |
| Adjust the temperature on your water heater | |
| Do an energy audit | |
| Compare rates and switch providers |
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What You'll Learn
Conduct an energy audit
Conducting a home energy audit is a great way to assess your energy usage and identify areas where you can cut down on costs. A home energy audit can be done yourself, or by a professional.
A professional energy audit can cost between $100 and $1650, with an average of $416. Some utility companies may offer free energy audits to their customers to help them save on their utility bills. A professional will use tools like a blower door test, a thermographic scan, infrared cameras, furnace efficiency meters, and surface thermometers to detect sources of energy loss. They will then produce a report with recommendations to reduce energy usage and increase the comfort of your living space.
If you want to conduct a DIY home energy audit, you can do a simple but diligent walk-through of your home to spot problems. Some common problem areas to focus on are air leaks and drafts. Check for indoor air leaks, such as gaps along the baseboard or edge of the flooring, and at junctures of walls and ceilings. Also, look for leaks on the outside of your home, especially where two different building materials meet. Other places to check for leaks include windows, doors, lighting and plumbing fixtures, switches, and electrical outlets. You can use simple tools like incense sticks to check for drafts. After your DIY audit, you can decide if you want to call in a professional to complete a more thorough assessment.
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Adjust your thermostat
Adjusting your thermostat is a simple yet effective way to keep electricity prices down. Heating and cooling are some of the biggest contributors to high utility bills, so making small changes to your thermostat settings can make a significant difference.
A good place to start is by adjusting your thermostat by 7 to 10 degrees, depending on the season. For example, in the summer, set your thermostat to a higher temperature when you're away or asleep, and in the winter, set it to a lower temperature. Doing this for eight hours a day can lower your heating and cooling costs by around 10% annually. If you have a programmable thermostat, you can set it to adjust the temperature automatically, so you don't have to remember to do it manually.
Another way to save on heating and cooling costs is to maintain your HVAC system. This includes regularly changing the air filters, as dirty or clogged filters can make your appliances less efficient and cause your home to be dustier. By changing your air filters every 60 to 90 days, you can ensure that your HVAC system is running as efficiently as possible.
You can also adjust the temperature of your fridge and freezer. Setting your fridge to 37 degrees Fahrenheit and your freezer to 0 degrees Fahrenheit will keep your food fresh while reducing the amount of energy needed to maintain these temperatures. Additionally, consider turning down the resting temperature of your water heater. Most water heaters are preset at 140 degrees Fahrenheit, which is 20 degrees above the Department of Energy's recommendation. By lowering the temperature, you can reduce your energy consumption and lower your electric bill.
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Switch to energy-efficient appliances
Energy-efficient appliances are a great way to keep electric company prices down. Appliances account for 9% of your energy bill, with refrigerators and clothes dryers having the highest operating costs. Therefore, it is important to invest in energy-efficient appliances to reduce costs.
The Earth Day Network recommends swapping out old appliances for more energy-efficient ones, which will not only save money on utility bills but also help reduce greenhouse gas emissions. This simple swap can save households hundreds of dollars annually. For example, new washing machines with the Energy Star label use 25% less energy and 70-75% less water than agitator washers from 20 years ago.
Energy-efficient refrigerators are also a great investment. The IEA has found that appliance efficiency policies have halved the energy consumption of refrigerators, air conditioners, lighting, televisions, washing machines, and cooking appliances. These efficiency gains have been achieved while also reducing the purchase price of appliances by 2-3% annually.
In addition to saving money, energy-efficient appliances also help to reduce energy demand and emissions. This is especially important as global energy demand for cooling is projected to triple between 2020 and 2050, with air conditioning becoming more widely used. By investing in energy-efficient appliances, you can do your part to reduce energy consumption and help the environment.
If you are unsure about which appliances to choose, there are many resources available to help you make an informed decision. The Energy Star label is a great place to start, as it identifies products that will result in long-term savings. Additionally, Consumer Reports offers energy-efficient appliance recommendations and comparative information to help you select the most efficient option for your needs.
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Choose a deregulated energy market
Energy deregulation allows consumers to choose their electricity provider and plan. In a deregulated market, providers compete with each other to attract customers, which incentivizes them to offer the best rates and services. This competition benefits customers by providing more competitive rates and generation options, including renewable energy.
In a regulated market, vertically integrated monopoly utilities cover the entire value chain with oversight from a public regulator. Customers in these markets cannot choose their power generator and are bound to the utility in that area. Regulated markets dominate most of the Southeast, Northwest, and much of the West (excluding California).
On the other hand, in a deregulated market, market participants other than utility companies own power plants and transmission lines. Utilities are still responsible for distribution, operations, and maintenance to keep the power running to customers' homes. Deregulated markets have opened up generation for competition from independent power producers in 24 states, including California, Texas, and most states in the Northeast. 18 of these states and Washington, D.C., have introduced retail choice, which allows residential and/or industrial consumers to choose their electricity provider.
If you live in a deregulated state, you can switch providers or plans to find a more cost-effective rate. However, it is important to note that deregulated markets do not necessarily make energy cheaper, and you may need to shop carefully to find the best plan for your needs. Additionally, be cautious of plans with gimmicks such as free nights and weekends, as these often have significantly higher rates during non-free hours.
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Take shorter showers
Taking shorter showers is a simple yet effective way to keep electricity prices down. It is a small daily change that can make a significant difference in your energy consumption and carbon footprint.
Firstly, it is important to understand that heating water requires a considerable amount of energy. The process of heating water consumes more energy than lighting a three-person household for a day. Therefore, reducing the amount of hot water you use during your shower can substantially lower your energy costs.
To achieve this, you can set a timer and challenge yourself to complete your shower routine within a shorter time frame. Aiming for a 4-5 minute shower can help you save both energy and water. Additionally, investing in a water-efficient showerhead can further reduce water usage without compromising your shower experience. These showerheads are designed to conserve water and can be easily installed by screwing them onto your existing shower hose.
By embracing shorter showers, you not only reduce your electricity bill but also contribute to environmental conservation. According to One Utility Bill, if all their customers kept their showers to 5 minutes, they would save 996,000 kg of carbon emissions annually, equivalent to the carbon used to make 2.49 million cups of coffee.
In addition to shorter showers, there are other measures you can take to reduce your overall energy consumption. These include adjusting your thermostat when you are asleep or away from home, maintaining your HVAC and appliances, and replacing incandescent light bulbs with LED lights. By combining shorter showers with these energy-saving practices, you can effectively keep electricity prices down.
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Frequently asked questions
There are several ways to keep your electricity bills down. You can start by doing an energy audit to identify ways to reduce your energy usage. You can also adjust your thermostat, fridge and freezer temperatures, and water heater temperature. Additionally, you can save money by using energy-efficient appliances, switching to LED lighting, and using smart power strips.
There are several reasons why electricity companies may increase their rates. One common reason is to cover the costs of repairs, updates, and maintenance of their equipment. Sometimes, rate increases are also necessary to keep up with the cost of living and changes in weather conditions. Additionally, in a regulated market, electricity companies may have less incentive to offer competitive rates, as customers have limited choices.
If you live in a deregulated state, you have the option to switch electricity providers or plans to find a more cost-effective rate. Start by comparing rates from different providers and carefully reviewing the terms of their plans. Look out for gimmicks such as free nights and weekends, as these plans often have significantly higher rates during non-free hours. You can also sign up for rate alerts to be notified when prices drop.
