5 Sneaky Ways To Save Money On Your Electric Bill
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Looking to save money on your electric bill next month? Then start reading because you are going to love this post!
Saving money is one of my favorite things in the world. I admit that I love money, and I love saving money. Since writing about my financial journey, I have found many ways to make and save money.
Today, I wanted to write about how to save money on your electric bill and how simple it is.
When you are on a tight budget and want to cut some expenses, the best approach is to start with categories you can control, such as home bills. Finding ways to reduce your expenses will help you financially, and saving on your electric bill is one of them.
During Spring and Fall, we pay less on our utilities, thanks to the weather. We take advantage of it and the savings the weather can provide us.
Unfortunately, summers are sometimes brutal and dangerous, with high heat indexes. As much as we try to hold off using our air conditioners, we simply can't safely take the heat and turn it on.
During my research on how to save money on electricity, I found interesting and useful ways to do so, as well as interesting and expensive ways to do so.
2024 Energry Consumptions Facts
Here are some key 2024 energy consumption facts:
Electricity Demand Trends: In the US, electricity demand decreased by 1.6% in 2023 due to milder weather and a slowdown in manufacturing. However, it is expected to rise by 2.5% in 2024 as weather conditions normalize and demand from sectors like data centers increases​ (IEA)​.
Renewable Energy Growth: The share of renewables in global electricity generation is forecast to grow significantly, from 30% in 2023 to 37% by 2026, driven mainly by the expansion of solar power. This growth in renewable energy is helping to meet global electricity demand and reduce reliance on fossil fuels​ (IEA)​.
Energy Transition Financing: In the US, a record $303.3 billion was invested in clean energy technologies in 2023, including renewables, electric vehicles, and power grid improvements. This investment surge is a result of new policies and incentives aimed at promoting sustainable energy​ (BloombergNEF)​.
Electric Vehicle (EV) Impact: EV sales in the US increased by 50% in 2023, reaching nearly 1.46 million vehicles. This increase is driven by new incentives and the introduction of more EV models, contributing to higher electricity consumption for charging these vehicles​ (BloombergNEF)​.
Energy Storage Expansion: The US saw a significant increase in energy storage capacity, with 7.5 GW of battery storage commissioned in 2023. This expansion is crucial for balancing supply and demand and integrating more renewable energy into the grid​ (BloombergNEF)​.
Electricity Prices: Despite a 50% price decline in the European Union in 2023, electricity costs for energy-intensive industries remain high compared to the US and China. This discrepancy affects global competitiveness and could impact energy prices in the future​ (IEA)​.
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The good news is that there are more ways to save money on your electric bill that don't cost as much and that the entire family can help with. Here are five painless and straightforward ways to do so.
How To Save Money On Your Electric Bill
Turn off the lights
Yes, this might be the simplest way to save money on your electric bill, but how often have you walked into an empty room and the lights are on?
Always make sure to turn on your lights only when needed and then turn them off before walking away. This will help reduce energy consumption and, yes, save you money on your electric bill.
Use cold water when washing
Laundry detergents are now designed to be used in cold water without leaving stains. When you wash your laundry with hot water or even warm water, your washer machine uses energy to heat up the water. Stick to using cold water to reduce the cost of electricity.
Run your large appliances during off-peak time
Electric companies have peak and off-peak rates for electricity. Running your large appliances, like the dishwasher or laundry machines, at night will save you money. According to CallMePower, common peak times are the following times:
- Late afternoon to early evening
- Summers & Winters
- Weekdays
- Non-Holidays
The best way to find your electric company's peak and off-peak rates is to call them or search their website. Each state has a different peak and off-peak rate time.Â
Unplug unused electronics
Even if you are not using your electronic devices, if they are plugged in, they still use power. Your DVD/BluRay player, which you may use once a week, once a month, or three times a year, is still consuming power as long as it's plugged in.
This goes for almost all electronic devices and chargers as well. You may think that these things are only using a small amount of electricity, but add them all up, and it could be the equivalent of leaving several lights on all day, every day. Simply unplug what you are not using at that moment, and you will see a difference in your bill.
Use blinds or curtains on your windows
This is simple enough, open the curtains during the winter to let the light in, and close them during warmer seasons to maintain a cool home. This goes for your doors' windows as well.
Conclusion
These painless 5 ways to save money on your electric bill will help you reduce your electric billing cost. There are many other ways to help you reduce the cost of your electric bill, but these tips the entire family can do.
Assign your children the task to make sure all lights are turned off and make it into a game. These are good examples of how an entire family can help reduce the electricity bill, without spending more. This is just a start, but these are excellent ways to start saving money on your electric bill.
What other ways do you use to save money on your electric bill? Please share it with us.
Need help saving money on other home bills? Check out:
Ceiling and free-standing fans use less electricity than AC units, so are a cheaper option if the heat isn’t too extreme. To keep the cost of using your AC as low as possible, replace the filters regularly and have it serviced once a year. Apparently they work better if they’re kept shaded by plants or a fence.
More ideas at: http://jennyaroberts.hubpages.com/hub/Why-is-my-Electric-Bill-so-High-Money-Saving-Tips-Energy-Conservation
Thank you Jennifer for these tips!
I try to do these things in my house
We don’t have the problem of trying to stay cool (a white roof is an awesome idea) but I’m always on the lookout for ways to save on heating and electricity. I used to use cold water for washing but then switched to warm sometime in the last couple of years. I’ll give it another try. Oooh, and looks like a pretty morning, maybe I’ll even hang the laundry today. I always love an excuse to get outside for a few minutes 😉
I’m constantly turning off lights and unplugging unused chargers. Those are my pet peeves. I just see dollar signs hanging over them. haha I found your tips at Inspire Me Mondays!
HI I also found you at Inspire Me Mondays. I’m Janice, one of your hostesses. You are in contention for most inspirational. Check back tomorrow at mycurrentnewsblog.com to see if you won.
Janice
Most utility companies have a budget billing option which helps even out the high electric costs throughout the year or high gas costs from winter heating. Sometimes that’s easier than worrying about the seasonal fluctuations-they will average out your usage for the year and bill accordingly. It beats the hefty bills that can show up in July and August!
Thanks for linking up with Share the Wealth Sunday! Great tips! I’m going to share this on my blog and Facebook page!
We also have our ac on a programmable thermostat. We set it to 85 30 minutes before the last person leaves for the morning. To 80 30 minutes before the first person gets home. To 78 around dinner time. And 76 just before bed to make for restful sleep. We try to run it only when we absolutely need to…but we lice in central Florida. So that’s pretty much may- Sept. We don’t have a furnace so that’s a savings. We take the child off with our electric fireplace in the coldest months. Usually February. (this year it got down to 25 for a couple nights…but usually we can handle the normal 30’s…we’re from NNY, lol). I also try to line dry a lot. The pool of set on a timer. Unfortunately the hot tub cannot be, but we keep the heat completely off in the summer and use a dark cover to heat it naturally. It usually maintains 91.
You are brave and very determine! You live in Central Florida and look at your tricks. Seriously I am very impress. Good work and thank you for sharing your tips @disqus_wnQeKTFhy1:disqus
I never knew there was an on and off peak times ! Thanks for the great tips 🙂
Where I live, there is only one rate – astronomical! I’ve contacted them to check after I tried doing laundry and operating the dishwasher in the middle of the night for 4 or 5 months!
Shared these very smart and simple tips. I try to keep thermostat at 78-80 and use ceiling fans It gets hot in Texas in August! I am going to try the cold water in the washer. I never new! Happy to try something new. Thanks for sharing.
Already shared…Thanks again!
Thanks for the tips! Didn’t think to unplug my electronics when not in use.
In summer, I keep curtains closed in south facing windows until the sun has moved to the west. After sundown I open the windows to allow the cooler night air inside closing them again in the morning.
I have a top load washer on the second floor near my ensuite. Any time I want to wash my hands when I am upstairs, I turn on the washer thereby capturing the water that would normally go down the drain for a later load of laundry. When I want to shower, I also turn the washer on first to bring the hot water from our water heater in the basement up to the second floor without having gallons of unused water running down the shower drain waiting for the warm water. For what it’s worth, I put soiled clothes in the washer and the water that collects when I wash my hands etc., soaks the clothes for a time before I run the washer on the shortest cycle. I put the washed items into the dryer with the heat turned off for 10 minutes before removing them to hang (no room outside for a clothes line) on hangers from whatever spot I can to dry.
And don’t forget the dishwasher. Use the shortest cycle which will save electricity and extend the life of your unit.
I’ve brought our electric bill down from $700 for two months to between $130 and $190 for two months. But I’ve become a bit OCD about lights and TVs being left on. We used only $1000 for oil heat and hot water in the past year but I do have a wood cook stove which I actually prefer to use for which I purchase wood at $140/cord and split it myself using around 3 cords a year. Our house is over 4500 sq ft. I believe my husband thinks I’m nuts but I hate to give the utility companys a penny more than I have to.