How to Reduce Your Power Costs

Electricity is a necessity, but that doesn’t mean it comes cheaply. In fact, electricity costs have been rising over the last few years despite the increase in renewable energy.

If the price of power is giving you cause for concern, don’t give up hope — there are several things you can do to lower your future bills.

Seeing the Higher Cost

A significant part of higher electric costs is a result of increased network costs. These costs cover the poles, wires, and other infrastructure that make it possible for power to travel from the distributor to your home. Due to aging components and higher usage, the infrastructure is beginning to require more maintenance and upgrades, resulting in increasing electric prices.

Prices are also affected by population growth, increased demand, rising gas prices, and the fact that more people are staying home these days.

However, this doesn’t mean that you can’t do something to help negate these increased costs and lower your power bill.

Eight Solutions for Lower Electricity Costs

These useful tips can help you save on your next electricity bill.

  • Invest in an assessment. Not sure where to begin? An in-home energy assessment can help you identify and rectify high-energy areas in your home.
  • Look at your lights. Installing energy-efficient light globes can save you a lot when it comes to lighting costs. Not only do these bulbs use less electricity, but they also last much longer than standard bulbs. Additionally, be sure to turn off lights when they aren’t needed and utilise natural lighting whenever possible.
  • Be smart about heating and cooling. Each degree above or below the optimal temperature for heating (18 to 20 degrees Celsius) and cooling (25 to 27 degrees Celsius) can add around 10% to your bill. Close doors and window covers as necessary to keep your home at an optimal temperature.
  • Insulate your home. Proper insulation not only keeps your home cool during the summer and warm during the winter, but it can also reduce your electricity bill, saving you approximately 40% on your yearly bill.
  • Be appliance-savvy. Turn off appliances when not in use to avoid paying for standby electricity. For even more savings, consider investing in energy-efficient appliances, running your appliances in an eco-friendly setting, and using cold water to wash clothes and dishes.
  • Go solar. If you can afford the upfront costs, solar energy provides yearly power savings in addition to being a sustainable and eco-friendly alternative to other power options such as natural gas.
  • Know off-peak electricity times. Limiting energy use during peak times translates to a lower power bill. Doing so helps to take the strain off of networks, thus reducing the need for maintenance, repairs, and the resulting higher energy costs. Off-peak hours are generally from 10 a.m. to 6 p.m., though this may vary so be sure to ask your provider.
  • Shop around. If you’ve been with the same provider for years, it’s time to start shopping around with other electricity providers to find a better deal.

A Winning Goal: Reducing Electricity Costs and Consumption

Reducing your energy consumption is a win for everyone, as higher energy usage is not only more costly for you, but it also contributes to pollution and greenhouse gas emissions. Implementing some of the above tips can help you lower your power bill while creating a more sustainable future for everyone.

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