Electric prices increased by a substantial 4.3% in 2023 (1), so we’re all looking for ways to save on energy costs. In order to reduce your power bill, you may need to do some DIY projects throughout your home and change a few of your habits. But if you’re willing to put in a bit of effort, it’s possible to stay cool this summer while significantly lowering your utility costs. Here are five strategies to help you cut your electric bill by up to 75%.
5 Tips to Help You Cut Electric Bill By 75%
Unplug Appliances When Not In Use
Did you know that 75% of energy usage from appliances happens when they’re turned off? Many appliances draw power while plugged in even when you’re not actively using them, including computers, gaming consoles, cable boxes, microwaves, and surround sound systems. If you don’t want your appliances to consume energy when they’re not in use, then make sure you diligently unplug them.
Insulate Your Home
Properly insulating your home can significantly reduce your energy costs in the summer by preventing outdoor heat from entering your home. Estimates from the EPA suggest that homeowners can save between 15% and 20% on heating and cooling costs by installing insulation in their attics and crawl spaces. Certain types of insulation like fiberglass batts are relatively straightforward to install, so you may be able to handle the project yourself to save money.
Poorly sealed windows can also cause cold air to leak out of your home during the summer. Caulk any visible gaps and cracks in your window frames and spots that feel drafty to make your home more energy efficient.
Reduce Your Air Conditioning Usage
Air conditioning accounts for between 12% and 27% of monthly energy costs in the summer depending on the climate where you live. So reducing your air conditioning usage is crucial if you want to cut your electric bill by 75%.
One way to cut back on air conditioning usage is to turn the air conditioning off when you aren’t at home. Installing a smart thermostat will allow you to remotely control your air conditioning and turn it off from your phone when you’re out and about. Keeping your window blinds closed can also help keep your home cool while you’re at work.
When you get home, running a fan to boost airflow and ventilation can make you feel cooler and reduce the need to crank the air conditioning. Since heat rises, hanging out in the lower levels of your home as much as possible can also make you feel more comfortable. Additionally, try to avoid using heat-producing appliances such as your oven. Cook dinner on the outdoor grill instead or use appliances that throw off less heat like a crockpot.
Increase The Efficiency of Your Air Conditioner
Properly maintaining your air conditioner will help increase its energy efficiency and reduce your power bill. According to the Department of Energy, cleaning and replacing your air conditioner’s filters regularly can lower its power consumption by 5% to 15%. It’s also important to check the evaporator coil regularly and see if it needs to be cleaned, as a dirty coil can reduce the efficiency of your cooling system.
Another great way to stay cool during the summer is to add shade around your home and air conditioning unit. Shading an outdoor air conditioner can increase its energy efficiency by up to 10%. Plus, planting shade trees and ground cover foliage around your home can help you save up to 25% on your energy costs according to the Department of Energy.
Install LED Bulbs And Turn Off Lights
If your home still has incandescent light bulbs, consider upgrading them to help cut your electric costs. LED light bulbs use 75% less energy and even last 25% longer than incandescent bulbs.
However, even if you have LED bulbs, that doesn’t mean you should leave your lights on all the time. Whenever you leave a room, make sure to shut off the lights so you don’t waste energy.
What steps have you taken to lower your electric bill? Share your tips in the comments!
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Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.
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