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5 Interesting Ways To Save Money On Electric Bill

SAVE MONEY ON ELECTRIC BILLS - FRUGALITY - SAVE ON ELECTRICTY Published On: August 15, 2023
According to NPR, due to inflation and other factors, electricity rates have increased by an alarming 15.8% in 2022, compared to rates in 2021.

However, that’s not all. The 2023 electricity market report has reported that the demand for electricity is on course to increase by 2.6%, which will most likely lead to a price hike in electricity as well.

This just goes to show how pricey electricity has become, and the rise in per-unit pricing has no intention to halt. Being a part of such an economy, it is vital to utilise electricity sparingly to be careful not to rack up an absurdly high electricity bill.

It is a popular belief that utilising electricity efficiently by using it when and where needed is the only way to save money on your electricity bill. Although it is one of the more effective methods, it is not the only one.

Let’s discuss this in further detail, understanding the importance of saving up on your electric bill, as well as talking about some methods on how to save money on electric bill.

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What is the Importance of saving up on your electric bill?

Having to pay less for utilities is always a welcoming change, and that is obviously one of the main selling points of saving up on your electric bill.

That being said, there are several other compelling reasons why saving up on the electric bill is so vital.

First, let’s address the most apparent and immediate effect of saving up on your electric bill. Doing so will help you lower your electric bill, allowing you to manage your budget more efficiently.

5 Interesting Ways To Save Money On Electric Bill

Toning down on the overall usage of electricity-hungry appliances are just one of the ways to save energy, and just implementing that can help you free up a big chunk of your budget you can allot to groceries and other essential purchases.

Ways to save on electric bill

1. Hire a professional to perform an audit

Before you begin your journey to save money on the electric bill, consider getting a professional to conduct an audit of your home.

In order to ensure that the energy-saving habits you are applying to have the maximum effect, you need to understand exactly how much electricity you are currently utilising, and this is where an electricity audit comes in.

There are many ways to go about this. You can either call an auditor and get it done the old-fashioned way, or use an auditing tool easily available on the internet.

Even though the auditing tool will provide you with acceptable results, it is still better to hire an electrical auditor because not only will they notify you exactly where the problem lies, but they will also tell you tips and tricks which can help you lower your electric bill.

2. Use your thermostat wisely

Your thermostat has more influence on your energy usage than you realise. Did you know that turning down your thermostat by two degrees in chilly weather will lessen the heating bill by 5%?

One of the best ways to save energy is to be aware of how much you utilise your thermostat, turning it down when not necessary.

5 Interesting Ways To Save Money On Electric Bill

Other temperature adjustment, its placement can allow you to save electricity as well. Position your thermometer on an interior wall away from any windows to save money on electric bill.

Placing your thermostat near windows will expose it to direct sunlight, which will enable the thermostat to needlessly adjust the temperature on its own, eating away at your energy consumption.

3. Cover air leaks

This method to reduce electric bill especially applies to countries that have a windy climate. If you think that there is an opening or a wedge within your home which is causing winds to leak inside, consider sealing them up to save money on electric bill.

These drafts are capable of tampering with your thermostat, which needs to work harder in order to constantly adjust the temperature according to the wind, eating away at your electric bill.

When sealing those troublesome air leaks up, it is recommended to buy some weather strips from your local department store. They are especially designed to seal any openings, containing strong adhesive on their backs so that they properly attach to any rubber or plastic surface.

4. Air-dry your dishes

Did you know that there is a way to conserve your energy consumption by an entire 35%? You read that right, if you stop using the dishwasher’s heat drying feature, your electricity usage will drop from 50% to 15%!

5 Interesting Ways To Save Money On Electric Bill

Instead of drying your washed cutlery by using the dishwasher, leave them in the open and air dry them to save money on electric bill.

Nowadays, in an effort to make dishwashers and less burdening on your electric bill, many newer models come with an air drying option which you can utilise as well.

5. Install Efficient Lighting

You can always simply turn off the light to lower your electric bill but what that only applies to when a light is not needed. However, there are ways to conserve electricity even when it is in use.

Instead of using your conventional light bulbs, install light emitting diode (LED) or compact fluorescent lamp (CFL) bulbs as they are much more energy efficient in the long run.

5 Interesting Ways To Save Money On Electric Bill

They might cost more than your average light bulb, but you will be able to make that money back and then some more in the form of lower electric bills. After nine months of usage, CFL bulbs have displayed a considerable drop in electricity consumption.

If you are willing to go the extra mile and have some funds to spare, it is strongly recommended to go for LED bulbs as they boast even more savings than your CFL bulb.

Not only have LED lights reported to be up to 80% more energy efficient, but they are also said to be much more durable as well.

Final words
There are many ways you can save money on electric bill but many of them are not as effective. However, following through with this guide is sure to provide you with all the information you need to start saving up.

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