The rising cost of domestic electricity is a worry for most people, especially during these times of financial hardship. Just a few simple changes around your home could cut your electricity consumption considerably and substantially reduce your costs, not to mention being “greener” for the environment.
Here are 7 ways to reduce your electricity bill:
1. Use online comparison sites to check which supplier is the cheapest in your area. The cost of electricity varies greatly between suppliers; comparison sites keep a database of suppliers and up-to-date costs for most geographical areas. They may also offer incentives, such as cash back schemes, to switch suppliers.
2. Turn off computers, monitors, televisions, DVD players, and entertainment systems when not in use. Leaving devices on standby uses a substantial amount of electricity; unplugging these devices could cut your electricity bills by up to 10%. Plug all your devices into a power strip to make it easier to remember to unplug them.
3. Fill dishwashers and washing machines as much as possible before switching on. Make sure you use full loads in washing machines and dishwashers; don’t waste electricity, and water, by turning on the washing machine just for a few pairs of socks.
4. Replace old light bulbs with new energy-efficient bulbs. Not only will they save you money on your annual electricity bill, they also last up to ten years which will save you money on the cost of replacement bulbs. They do cost more upfront, but keep in mind that you’ll save substantially in the long run.
5. When buying new appliances, such as refrigerators, freezers, washing machines and tumble dryers, check for the most energy-efficient model. These will save you money on your energy bills, and are much more environmentally friendly. These will cost more at first too, but you’ll see the savings as soon as your next electric bill comes.
These last two options may not be possible for everyone, but depending on your financial situation and where you live you may want to consider them to cut costs:
6. Consider investing in solar panels to produce your own solar energy. The initial cost of having solar panels fitted can be expensive, but they will save a lot of money in the long-run. Fitting panels that are specifically designed just to heat water (rather than to heat the whole house) are relatively cheap, and can cut water heating costs by around one-third.
7. Small domestic wind turbines could be an option if you live in a windy area. These can provide over one-third of your electricity and make substantial savings. You will need to do some research to find out if it is worth having one installed in your area.
Image Source: http://www.electrician-medford-oregon.com/wp-content/uploads/2012/01/power-bill.jpg
Consumer Education Services, Inc. (CESI) is a non-profit service provider of comprehensive personal financial education and solutions for all life stages and for all of life’s milestones. Our goal is enhanced economic security for everyone we serve.
CESI is NOT A LOAN COMPANY