Electricity Cost is On Rise! Here’s How You Reduce Your Power Bill

Electricity Cost is On Rise! Here’s How You Reduce Your Power Bill

If you’re like most of American consumers, you know that saving money on your electricity bill is hard. There’s no way around it: the price of electricity has gone up over time and continues to rise as more people use air conditioning or heat their homes with gas furnaces or stoves.

According to a study conducted by the US Bureau of Labor Statistics, electricity bills has spiked 15.8% in August, 2022, compared to August, 2021. In fact, natural gas bills went even higher in August, at a 33% rise compared to the same period in 2021.

Even worse, Americans are struggling to pay their utility bills as confirmed by a Bank of America’s report.

Luckily, there are many ways to save energy at home, there’s never been a better time to get started on getting your energy usage under control!

Here are some tips for reducing the electric bill:

Install a smart thermostat.

A smart thermostat is a device that helps you monitor and control your home’s temperature. It uses Wi-Fi to connect to your internet-connected devices, such as an Amazon Echo or Google Home speaker. Smart thermostats vary in price and functionality—you can find inexpensive models with basic features or pricier ones that offer more advanced features like remote access and voice control through Alexa or Siri.

But million dollar question is here: Can they help you save money on electricity bills?

Many companies has claimed that smart thermostats can save on average 8% on heating or cooling or $50 per year on your electricity bill.

Seal up your home.

• Check for air leaks. The easiest way to save on electricity bills is by checking for any gaps or cracks in your home, especially around windows and doors. If you have a drafty house, it could be costing you hundreds of dollars each year in wasted energy.
• If there are gaps around windows and doors, seal them with weather stripping or caulk to keep out drafts from entering into the rooms where people spend most of their time (such as living rooms). You can also use insulation panels on top of studs—these won’t block heat from escaping through them but will help trap cold air inside instead!

Go on a lighting diet.

If you can, go on a lighting diet. Use natural light instead of artificial light, turn off lights when you leave a room and use dimmer switches to reduce the amount of electricity used by lights.

Switch to CFL or LED bulbs.

• Compare the cost of CFL or LED bulbs to incandescent. The average price difference between a standard light bulb and an LED bulb is between $3 and $7 per year, depending on how long you need your lights to last.
• How long do CFL and LED bulbs last? In general, CFLs have a lifespan of 5,000 hours (10 years), whereas LEDs have a lifespan of 15 years or more. The number of hours that each type will run depends on their quality; higher-quality LEDs can use less energy but dim more slowly than lower-quality ones do—so if you want longer life from your lights, go with something like this Philips A19 3200K Re flashing Bulb ($49) instead!
• How much energy does each kind use? While there are some exceptions here too—like halogen versus compact fluorescent lamps (CFLs)—the main thing you should keep in mind when deciding which kind of bulb works best for your needs is how efficient they are at converting electricity into light itself: An incandescent gives off lots of heat while generating little usable light output; an LED produces only small amounts while using significantly less power overall than either type would require otherwise.”

Weatherize your windows and doors.

• Weatherize your windows and doors.
• Install draft guards on all exterior doors, as well as storm windows and vinyl siding (if applicable). If you have aluminum siding, you can also add insulation to it by applying caulking around the perimeter of the house.

Insulate the attic, basement, and crawlspace.

• Use a good quality insulation.
• Insulate water pipes.
• Insulate ducts and vents.
• Use foam board insulation under the roofing material

Save money on your electric bill by using less electricity.

• Use less electricity.
• Use energy-efficient appliances.
• Set a programmable thermostat to turn on your devices based on their needs, such as the lights or the oven when you’re not home.
• Replace incandescent bulbs with fluorescent or LED light bulbs (they use less electricity), and use them in place of standard household lamps.
• Weatherize your windows and doors so they can keep out heat from inside as well as cold air from outside; this will save on heating costs as well!

The Conclusion

As you can see, there are many ways to save on your electricity bill. Even you can ask for professional help if there are any sort of electricity issues. You just need to do some planning and research before making any big decisions. And remember: it’s better to reduce consumption than to increase prices when it comes time for an upgrade!