Photo by Fré Sonneveld on Unsplash

We’d all love to spend a fortune on our energy costs while saving the environment. Even the US government is investing $100 million in solar power programs for this purpose. Individuals don’t have to spend that much money to save it if they choose the right tech, subsidies, and plans. 

10 Ways to Save Money on Energy Costs 

It’s fun and convenient to use electricity, but no one likes paying for it. If you’re dreading the thought of your next energy bill or you want to lower it as soon as possible, try the following.

1. Install Energy Efficient Lighting

Smart bulbs and LED lighting use 75% less energy than incandescent or CFL light bulbs. Based on that calculation, you can save $1.64 a month or $20.02 per year by making this simple switch. With that said, the amount of money you’ll save depends on how long you use them.

2. Compare Service Providers

Comparing electricity providers is a great way to lower your monthly energy bill, but you typically have to call in to get quotes. Instead, use comparison sites. For example, if you live in Australia, you can use the iSelect electricity comparison tool to find inexpensive providers in your area. 

3. Wash Everything in Cold Water

While warm water washes perform better than cold, it’s also more expensive. Unless your clothes or dishes are especially dirty, stick to cold washes. If you have eco settings on your appliances, turn them on. Air dry your clothes outside and dishes on counter dish racks.

4. Adjust Your Thermostat

Did you know that adjusting your thermostat by a single degree can save 2% to 3% on energy heating and cooling costs? To save the most on costs, keep the temperature around 77°F to 79°F (25°C to 26°C) in the summer and 64°F to 71°F (18°C to 22°C) using a smart thermostat.

5. Close Doors and Curtains

Use smart blinds, locks, and curtains you can operate from an app to close anything that could lead to the outside. That way, you keep your warm or cool air inside. While you’re at it, use caulking to cover any cracks or gaps and insulate your home’s attic if you have the cash flow.

6. Switch Off Appliances at the Wall

Standby appliances (appliances that are plugged into the wall but not being used) can cost households over $100 a year. While some appliances, like fridges, have to stay plugged in, televisions, dishwashers, and microwaves can be shut off daily using a smart power board.

7. Get Energy Monitoring Meters 

Customers can monitor their electricity using smart meters supplied by their energy company. These monitors can provide utility companies with a more accurate energy reading and help customers understand how they’re using their power, which allows them to reduce their bills.

8. Consider Solar Power/Batteries

A solar PV and battery system can offer the potential for off-grid and energy self-sufficiency, which is perfect for customers who live in rural towns. While investing in solar power is expensive, it’ll quickly lead to savings down the line. Plus, you can benefit from feed-in tariffs. 

9. Capitalize on Feed-In Tariffs 

Energy suppliers pay homes with solar PVs a feed-in tariff for excess electricity they export to the grid. Not only are you saving money on energy, but you’re also being paid just for using it. The amount retailers pay you includes the wholesale price plus the transmission costs.

10. Save Money on Electric Cars

Electric cars are becoming much cheaper than gas-powered varieties. Due to inflation, the price of gas is so high that switching to an electric vehicle may be worth it. Once you do, you’ll be able to use electric car subsidies, which lower the cost of charging stations and maintenance. 

This article was provided by José Luis Martín Cara