It’s not just you! Everyone’s electric bills are getting more expensive. In 2022, for instance, prices registered a record-high growth of 10.7%–the highest increase since the beginning of the century. Residential prices are projected to rise further in 2024, growing by 4% annually.
So, what can you do to lower your utility costs amid the rising inflation?
Well, there are many things you can do. Some changes are as simple as replacing your old bulbs, while others can involve major projects, like going solar or installing a new air conditioning system. Big or small, these changes can help you significantly lower your utility bills and lessen the environmental impact. Save your utility bills by implementing these energy-saving practices.
1. Do an Energy Audit
The first step to lowering your utility costs is to determine the cause of the rising energy bills. And an energy audit will do precisely that. A professional utility provider will often conduct a home energy audit, sometimes for free, and can identify ways to reduce electricity consumption.
An audit can help you figure out whether your appliances are energy efficient. It can also help determine if leaky ductwork or faulty seals on doors and windows, among other things, are contributing to high energy costs. Better still, these professionals may suggest upgrades that could help you save up to 20% on your bills.
2. Install a Programmable Thermostat
Still using a thermostat from the 80s? Switch it out with a smart thermostat such as the Nest, Honeywell, or Ecobee. According to ASE, switching to a programmable thermostat can save you up to 10% on utility bills.
The beauty of a smart thermostat is that it’s a real money saver. These devices are programmable, meaning you can choose a low-end setting when you’re away or asleep and a higher setting when you’re around. This not only helps keep your home warm round the clock but also leads to significant cost savings.
3. Purchase Energy-Efficient Appliances
Purchasing energy-efficient appliances can also lead to significant cost savings.
If it’s time to replace the bulbs, drier, fridge, or washing machine, it’s a good idea to look into their energy ratings. The ratings range from A to G, with A being the most efficient. Energy Star appliances will save you 10 – 30% on energy bills.
4. Weatherstrip Your Windows
Leaks, even smaller ones, around your windows and doors cause your heating system to overwork itself to compensate for the lost heat. Sealing these leaks can save you up to 30% a year on your energy costs.
To weatherstrip your doors and windows, head to your local home improvement store and choose the ideal weatherstripping product for your home. These come in various materials, including plastic, vinyl, felt, and foam, and can be layered to provide an effective seal.
5. Upgrade Your Furnace
The average lifespan of a furnace is typically between 10 – 20 years. However, this can vary based on many factors, including the quality of the furnace, its maintenance over time, and how heavily it is relied on, particularly in winter.
When the furnace is doing its job efficiently, you’ll enjoy a warm home throughout the year.
But if your heating and cooling system is faulty or on its last leg, it can put your household in an emergency situation—especially if the furnace failure happens in the middle of winter. Worst of all, an inefficient furnace can skyrocket your energy costs.
Older furnaces can have an Annual Fuel Utilization Efficiency (AFUE) rating as low as 50%, with newer, high-efficiency models as high as 98%. So, if the energy audit reveals a faulty or malfunctioning furnace, it may be time for a new furnace installation. Your local ARS Rescue Rooter professional will inspect your system to determine if it’s time to repair or replace it and recommend the right system for your home.
Wrapping Up
Electricity costs have been on the rise for the past few years. The good news is, there are steps you can take to save on energy costs. You could save hundreds of dollars a year on your utility costs by using a smart thermostat, purchasing energy-efficient appliances, weatherstripping your windows, and installing a new heating and cooling system.
