7 Low-Cost Strategies To Reduce Your Electric Bill
Written by
Jordan Rosenfeld
Edited by
Melanie Grafil
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
In these tough economic times, saving money on your monthly expenses is more important than ever. And one of the ways you can do that is by reducing your electric bill.
But many people think that to save money on electricity, they have to sacrifice comfort or convenience. Don’t worry, there are ways to save energy and money without making significant changes to your lifestyle.
Here are five easy and quick tips for saving on your electric bill.
Get an Energy Audit
While there are a ton of DIY things you can do without much thought to reduce your energy bill, you can also get an energy audit.
An energy professional will assess your house for all the ways and places you may be losing energy and suggest improvements that will overall help you save money.
While some of these suggestions may mean a little bit of a monetary output up front, such as installing insulation or replacing inefficient appliances, in the long run, you’ll be glad you took them.
According to HGTV, such an audit can result in a 25% to 35% reduction in energy usage. Imagine how much that would affect your bill.
Weatherstrip Your Doors and Windows
If you’re letting out the warm air in winter and letting in the hot air in summer by not having solid weatherstripping on your doors and windows, you’re probably spending more on heating and cooling your home than is necessary.
You can find a YouTube tutorial on how to add some simple weatherstripping and instantly see a difference for little cost. According to the Washington Post, this can lead to an energy savings of five to 10%.
Turn Down the Heat
Reducing the temperature in your house in the cooler months by just a few degrees can help you save money on your utility bills.
Drop it even lower during the night when you’re in bed. Bundle up with some fuzzy socks and sweatpants and know you’re saving cash. You can also leave the house a bit hotter in the summer, which will run your air conditioning less.
According to one heating company, turning your heat down by eight degrees for eight hours every night could reduce your bill by about $180 per year (and this will vary depending on where you live).
Adjust Your Water Heater Temperature
Most water heaters are set to produce scalding hot water by default, but you can easily adjust the temperature to save energy (and money).
Try lowering your water heater temperature to 120 degrees, which is more than hot enough for sinks and showers.
Use Your Appliances Efficiently
Running your appliances when they’re full means you’ll use them less frequently, saving both water and energy.
For example, run your dishwasher once a day instead of after every meal. When you’re doing laundry, make sure your loads are full. For bonus energy and money savings, wash in cold water.
Turn Off the Lights
If you’re still using incandescent bulbs, for every 40-watt light bulb that runs for an hour, you use 0.04 kWh of energy.
If your electricity company is charging around 10 cents per kWh, then just switching off five lights in your house for 10 hours a day is a $6/month savings on your electric bill.
And realistically, most electric companies are charging vastly more than 10 cents per kWh, so these savings will be more significant.
Wash Clothes at Night
Big appliances like washing machines and dryers can really suck up energy. However, many energy municipalities drop rates at “off peak” hours such as in the evening after 9 p.m., so if you’re a night owl, consider doing your washing then.
Implementing these simple tips will allow you to save money on your electric bill without significant sacrifices to your wallet or routine. So start saving now and reduce your monthly spending on electricity!
Becky Neubauer contributed to the reporting for this article.
More From GOBankingRates
