Summer in the U.S. has been incredibly hot and the worst is yet to come. As a result, many of us are relying heavily on our air conditioners, leading to higher electricity prices during peak hours of demand. Some electricity companies implement this pricing strategy to encourage consumers to use less electricity during these times, ensuring grid stability and avoiding unnecessary power generation. Here are some smart tech tips to help you save money on your next electric bill.
1. Use less energy: The most obvious and effective way to save on your electric bill is to reduce your energy consumption. Nearly 12% of a home’s energy usage comes from electricity for lights and powering electronics. You can lower your energy usage by turning off lights and unplugging electronics when not in use, using appliances during off-peak hours, sealing doors and windows, using power strips, and conducting an energy audit.
2. Determine your electric company’s peak hours: Find out if your electric company has designated peak hours when electricity is charged at a higher rate. This pricing strategy is more common in larger cities and populated areas. Peak hours may vary by season and region. To determine your electric company’s peak hours, contact them directly, visit their website, or search for your electric company’s name along with “peak hours”.
3. Program your thermostat: If your region has peak hours, the best way to save immediately is by limiting the use of your thermostat during those times. Different providers may have varying peak-hour schedules, which can change by season or day of the week. Pre-cool your home before peak hours begin and set the thermostat to a higher temperature during those hours. Consider using a smart or WiFi-enabled thermostat for more control and convenience.
4. Invest in smart plugs: Many electronic devices continue to consume energy when plugged in but switched off. Smart plugs allow you to control the energy usage of specific devices through WiFi controls, and even turn off certain outlets completely.
5. Upgrade to energy-efficient appliances: Although it can be expensive, replacing old appliances with energy-efficient ones will save you money in the long run. Look for appliances with the Energy Star label, indicating they meet strict energy efficiency standards set by the government. Upgrade your HVAC system, water heater, fridge and freezer, washer and dryer, and dishwasher.
6. Switch to LED or smart light bulbs: LED bulbs use up to 80% less energy than incandescent bulbs and last significantly longer. They also produce less heat, helping to keep your home cooler in the summer. By replacing the most used bulbs in your home with LEDs, you can save around $75 per year. Consider using smart bulbs that can be controlled remotely and offer additional energy-saving features.
7. Consider solar panels: Installing solar panels can generate clean and renewable energy for your home, reducing or even eliminating your dependence on the grid. The savings on your electric bill will depend on factors such as location, sun exposure, and electricity usage. Take advantage of tax credits, incentives, and financing options to make solar more affordable.
Bonus: Explore unexpected ways to lower your energy bills.
Remember, implementing these cost-saving measures can help you save money on your electric bill without compromising your comfort.
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