Complex Financing

Energy bills are a huge expense for many American households. Thankfully, it is easy to make small changes to dramatically decrease your home’s utility expenses. If you’re looking to ease both your eco-conscious and the strain on your wallet, here are some tips.

1. Take a look at the government’s guidelines for energy efficiency. A free online calculator and custom tips for lowering your electric bill can be found at Home Energy Saver, a Web site sponsored by the U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE).
2. Get Rid of “Phantom” Energy Use. Any time an appliance has a display, like a clock, or an on off red light, this is sucking down energy that basically is a waste and provides no value to use. Even if there is no lighted display, you could be still drawing energy to the appliance through a transformer. Use a power strip to plug in these devices so you can unplug all of them at the same time by switching the power strip to “off”.
3. Use Programmable Thermostats. A typical household spends forty-four percent of their utility budget on heating and cooling expenses. Installing a programmable thermostat that can be adjusted when your family is out of the house or asleep is one simple step that can lower your heating and cooling bill by twenty to thirty percent. You should look for an Energy Star approved thermostat that includes a temperature recovery system and at least four temperature settings.
4. Ceiling Fans. An easy way to reduce your cooling bill is to install an energy efficient ceiling fan. Ceiling fans can lower the air temperature by about four degrees Fahrenheit, without the need for air conditioning.
5. Lighting. You knew we’d bring this one up. In a typical household, these expenses account for about 33% of the total energy bill. The simplest (and most popular) way to drastically cut back on your electric bill is to install compact fluorescent light bulbs in all your lighting. These energy saving power houses use 75% less energy and last ten times longer than standard incandescent bulbs.
6. Replace Your Old Appliances. Newer, more efficient models may earn you tax credits and can save you money on your electrical bill. Refrigerators tend to be the least energy efficient appliances in any given household. A refrigerator that is over ten years old can account for up to 9% of the cost of a household energy bill all by itself. When replacing your old refrigerator, be sure to look for a model that is Energy Star approved.
7. Insulate Hot Water Heater. Hot water heating can be a huge energy expense for many households. A hot water jacket insulates your water heater and can cut standby heat losses between twenty-five and forty percent depending on the initial level of insulation the heater has. The jacket you buy should have an r-value insulation of at least 8. Hot water jackets at this level can be found online for less than $20.
8. Reduce Hot Water Heater TemperatureAlthough some manufacturers set water heater thermostats at 140ºF, most households usually only require them set at 120ºF. This can result in a significant savings over the course of the year.

With these simple and cost effective tricks, you will be well on your way to reducing your family’s energy consumption and saving money on your monthly energy bills. Have any more? Tell us about it by leaving a comment!

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