Question of the Day:
How can I lower my electric bill?
For many homeowners, the monthly utility bill is the second-largest expense after the mortgage. Reducing your energy usage isn’t just a good investment for the environment—it’s also a great way to keep your budget in check.
In 2016, the average electric bill in the United States was $119 per month—over $1,400 per year. Since then, electricity prices have grown at roughly 2.3% each year, which means in 2018, the average household can expect to spend just under $1,500 on electricity.
Cutting that cost would be a huge relief to many families—what would you do with an extra $700 a year?
There are two “schools” of cutting your electric use in your home:
- Energy conservation means avoiding using unnecessary energy, such as unplugging electronics when not in use, while also limiting your current energy use, such as not turning on your heater at night when a couple of extra blankets will do.
- Energy efficiency involves improving your home so that you will need less energy to keep it comfortable. Going efficient would mean that, rather than turning your heater off, you invest in a “smart” thermostat that would automatically adjust the temperature, or upgrade to an HVAC unit that would need less energy to maintain the same level of comfort in your home.
Going efficient often has a higher price tag than conservation, but efficient home improvements will save you more in the long run—and improve the value of your home. Not all energy efficiency is expensive, however! Being more efficient can be as simple as changing a light bulb.
Find out more on here, including a compiled list of 50 ways—both big and small—to cut your electric bill in half. By employing these tips, you can accumulate big time annual savings!