How Can You Reduce Your Energy Bill Without Having to Read by Candlelight? Three Tips

Did you know that, if energy efficiency doubles by 2030, as is currently projected, the U.S. will save about $327 billion in total energy costs for households, buildings, transportation and more? If this energy goal is reached, carbon dioxide emissions in America will decrease by four billion metric tons.

The average U.S. household spends a hefty $5,500 every year on total energy consumption. Are you interested in learning about ways to save on electric bills? Here are three tips for being energy efficient, and wallet wise.

1. Switch Electricity Providers

If you live in a deregulated state — and 15 states are currently deregulated — then you actually have the option of changing electricity providers, depending on who is offering you the best deal. According to the Daily Telegraph, the average household saves about $300 with an energy switch. When you compare electricity providers, make sure the quoted prices are constant, not just short-term promotional rates. Also inquire about early termination fees.Electricity Simplified advises you to look closely at the “other fees” section of any plan.

2. How to Save Money on Electricity by Being Efficient

No matter what the appliance, there are ways to use it more economically. Efficiently filling your dishwasher and only running it when it’s completely full, for example, cuts down on energy consumption without affecting quality of life. Did you know that heating your water is the second largest energy expense? You can cut down on your water bills by turning down your water heater’s thermostat, or by insulating it more. Unplug unused devices; “vampire power” users like DVD players can add up to 10% to your bill.

3. Save Money on Electricity by Replacing Old Appliances

It was about time for an upgrade anyway, right? For a smaller change, Consumer Reports recommends changing your old light bulbs; replacing just 15 incandescent bulbs with energy-saving bulbs instead can save you $50 every year. For larger switches, EnergyStar model appliances can help you save; any product that has the EnergyStar rating uses at least 10% less electricity than the standard, previous models they replace.

What do you do to save money on electricity bills?