8 Ways to Save Money on Your Electric Bill

You've heard the adage "time is money," right? While that's true, we'd argue that that phrase should be expanded to say, "Time and energy are money." Especially right now with the rising cost of electricity in the United States.

While you can't do anything about the rising costs of electricity overall, there are a few steps you can take to lower your own electricity bill. Even something seemingly small like switching light bulbs can add up to big savings when the monthly power bill comes.

Find out how to save on electric bills and keep a little extra money in your pocket by integrating these 8 energy-saving tips and tricks into your house or apartment.

Get Energy-Efficient Appliances

Your appliances are one of the main culprits of high energy bills in your home. The older your appliance, the more energy it will use.

When it's time to purchase a new fridge, dishwasher, or water heater, be sure to check that it has an ENERGY STAR rating, which means the appliance meets government standards for energy efficiency.

You can also have a professional energy audit run in your house. This will help you see how much power each appliance is using. If one is extremely inefficient, it may be time to consider replacing it with one that uses far less power. Your auditor should be able to pinpoint which appliances may need to be replaced.

In addition, your energy assessor will be able to point out other ways to make your home more energy efficient.

Install a Smart Thermostat to Save Energy 

No one wants to come home to an uncomfortable house. Too hot, too cold – we've all been there. But to have the house be the right temperature all the time often means using the heat or air for long stretches at a time – even when we’re not home. Unfortunately, this cost is significant.

Installing a smart thermostat is one of the best ways to save energy and lower your heating and air conditioning bills. These are thermostats that can be controlled with a smart device. That means you can turn your temperature up or down from an app on your phone right before you're ready to return home or right after you leave.

Some smart thermostats can also learn your habits (like when you're home or not) and program themselves to the temperatures you have preset to be more energy efficient.

If you do not have a smart thermostat, you can still save on energy costs by turning down the temperature in the winter or up in the summer when you’re not at home. The Department of Energy recommends a setting of 68 degrees in the winter when you’re awake and lower when you're asleep. In the summer, keep your house warmer, setting it to 78 degrees when you're away from home. 

Check Your Refrigerator Temperature

Many people keep their refrigerators much colder than necessary. Even a couple of degrees difference could add hundreds of dollars to your power bill every year since your refrigerator is one of your biggest costs of energy each month.

The correct temperature for keeping your food fresh is between 35-38 degrees Fahrenheit. However, many refrigerators are pre-programmed several degrees lower right out of the box. All you need to do is turn it up a few degrees to save money and keep your food fresh.

Lower Your Electricity Bill During Off-Peak Hours

Did you know nighttime is the best time of day to save money on your power bills? That's because the energy company raises the price during the day when everyone is trying to use power. Using electricity at non-peak times can be much less expensive. Tasks you can consider doing at night include laundry, charging your phones and other devices, showering, drying your hair, and watching TV.

Check Your Windows for a Lower Energy Bill

This step may require some investment, but your windows are one of the biggest culprits of energy usage in your home. Especially in the winter, warm air escapes from your windows, causing you to use more electricity to heat your house. 

To help your windows be more efficient, check the area around them for any gaps or cracks that could cause heat to escape. Consider caulking around these gaps to seal any air leaks or buying a do-it-yourself can of spray insulation. 

You can also install plastic to seal your windows in the winter. When it comes time to replace your windows, remember that while this is an expensive update, new windows also increase the value of your property and lower your electricity bills. 

Change Your Bulbs to Save Energy

Incandescent light bulbs are old technology and a big power drain. LED lightbulbs are the way to go when you want to upgrade and save money. They use only about a quarter of the power of incandescent bulbs and last about 90% longer. Check all the light bulbs in your home and replace them with LED bulbs to begin saving money immediately. 

Take Care of Your HVAC System 

Your HVAC system is one of the biggest sources of electricity inefficiency in your house. If your filters or ducts become clogged and dirty, it will force your HVAC system to work harder to heat and cool your home. This inefficiency could lead to expensive power bills (or expensive repair bills). 

To save money on your HVAC bills, make sure you perform all scheduled maintenance on your HVAC system. Also, regularly change your air filters since dirty filters will increase the work and energy load on your unit.

Finally, clean the ducts in your home periodically to reduce energy costs.

A Great Way to Save Energy: Have a Green Home

Did you know that plants inside your house and trees on your property can cut your electric bills by up to 20%? Trees create shade that keeps your property naturally cooler during the summer. This means that you would need less electricity for air conditioning.

When the leaves fall during the winter, you get more sunlight in your home, lowering your power usage for heating. Trees may even serve as a wind block during the winter, potentially reducing heat loss from your home and reducing your energy bills. Even having a portion of your house tree-covered can save you money.

Plants inside your home also save electricity. For example, when you have plants by the window, they help take in sunlight, keeping your house cooler. Plants keep heat out of your home in the summer and reduce the amount of dust in the air, lowering your electric bill. They also take up the carbon dioxide we breathe out, improving our homes’ air quality.

While we'll always need electricity to power our homes we can take steps to reduce the amount of power we use, saving us money in the long run. Energy bills are an area where you can and should feel empowered to make necessary changes to help your budget.

FAQs

What runs up your electric bill the most?

Heating and air conditioning are the biggest users of electricity in your home. Experts estimate these constitute 40% to 50% of the average U.S. home’s energy expenses.

What’s one way how to reduce electric bills?

An easy way to reduce your energy costs is to turn off the lights any time you’re not in a room. Read the article above for more great ideas.

When I pay my bills, what are the differences between energy and electricity bill?

While an electricity bill is strictly for electric usage, an energy bill may include other forms of fuel or energy usage, like natural gas.