7 Ways to Successfully Cut Your Home Energy Costs
It’s January, which means a new year is here and so is the time for making new resolutions. How about an energy resolution? This month celebrates both National Cut Your Energy Costs Day (Jan 10) and International Day of Clean Energy (Jan 26), so in honor of that, we’re outlining all the ways you can cut back on energy costs while simultaneously making a positive difference for our planet. But first, to give you an idea of exactly how significant our energy costs can be and where exactly they stem from, let’s talk about some common stats:
Of the average person’s electric bill….
- 40% is for heating and cooling your home
- 14% is for heating water
- In 2022, 79% of all energy used in the U.S. (100.41 quadrillion British Thermal Units (Btu)) came from fossil fuels
- At least 50% of all energy consumers have the ability to purchase electricity from renewable sources
So, with this in mind, where can you make positive changes that benefit both your wallet and the environment? Let’s break it down.
Steps to Reduce Your Energy Costs
#1. Begin with an Audit
Look at your current energy bill and determine the areas of highest usage. These are the areas where you’ll be able to make the most change. Then check what time of day you use the most energy.
#2. Research time-based electricity rates
No matter what state you live in or who your service provider is, your energy rates are likely to change throughout the day, season by season, charging you more during “peak hours” when energy usage is most in demand. Check for these electricity rates where you live and use this insight to determine where you can reduce your electricity and air/heat usage to have an immediate positive impact on your monthly costs.
#3. Home improvement
For most people, this is the step with the biggest initial lift, but it’s also the one that will very likely result in the most cost savings. Inspect your home for areas where inefficiencies may be causing your energy bill to be higher than it should. Seal any cracks or crevices around windows in doorways in order to make your heating and cooling more efficient. Switch to cold water usage for laundry and dishwashing purposes. Make sure all of your light bulbs and cables are updated and efficient. Moving to LED bulbs may have a slightly higher up-front price tag but they have a much longer lifespan than their incandescent and fluorescent counterparts.
#4. Update Your Thermostat
Modern home thermostats tend to have a 10-year lifespan. If your thermostat is older than 10 years, consider replacing it with an environmentally friendly programmable thermostat. Today, smart thermostats even have settings that automatically raise and lower your home’s temperature during peak hours in order to conserve energy and save you money.
#5. Unplug your electronics when they’re not in use
Believe it or not, the U.S. Department of Energy predicts that taking the time to unplug unused gadgets and appliances will save the average consumer up to $200 a year. Even when powered off, electronics can still be drawing energy—a habit that’s earned them the title “electricity vampires.”
#6. Move to more energy efficient appliances
This one can be tough for a lot of people because, let’s face it, we don’t all have a bunch of discretionary cash sitting around waiting to be spent. If you (like the majority of people) can’t afford to swap over to energy efficient appliances (e.g., refrigerators, dishwashers, laundry machines) right away, consider making the swap the next time one of your appliances is in need of replacing.
#7. Transition to clean energy sources
Remember this statistic at the beginning? 50% of energy consumers have the option to choose to draw their energy from green sources like solar and wind power rather than from fossil fuels. Check with your energy provider to see if this option is available to you. However, we’ll be completely transparent: The current energy system in the United States is designed for fossil fuel usage, which means that opting for a clean energy alternative is likely going to come with a more premium price tag. There are other cleaner systems you can swap to in the meantime (such as switching from furnaces to heat pump systems), but if you can afford it, clean energy is the way to go. The more consumer demand for clean energy increases, the faster we’ll be able to transition to clean energy across the country!
Going Solar—Is It Difficult?
Okay, so what if you want to transition to clean energy in an even more direct way? You also have the option of installing solar panels or, depending on the size of your lot, possibly a small wind turbine. But what does this actually entail? And how much is it going to cost—and possibly save you—really?
The average price of solar panel installation for a private residence can range from approximately $15,000 to $35,000 (government grants not included). The total amount is going to depend on the number of panels your home requires as well as service and installation fees where you live.
If solar panels are something you’ve thought about in the past and you’re wondering if they make sense for you and your budget, consider the following:
- Look at the cost of your energy bill. The higher your regular cost, the bigger the benefit you’ll have if you switch.
- Consider how much sun your home gets. Sunny, temperate climates like southern California, for example, are often great for harnessing solar power. However, if you live in a part of the country where the sun only shines consistently for part of the year, it may not be a very efficient method of energy production.
- Maintenance. Most of the cost of solar panels comes in the initial, up-front investment. After that, they are relatively low-maintenance and are built to last multiple decades.
- Government incentives. Look to see what government incentives and rebate programs exist locally, in your state, and at the federal level to help reduce the cost of your initial investment.
If you’re still not sure about whether or not you can afford to take your home solar, there are online calculators like this one to help you compare the cost and value for your specific situation. And it’s worth keeping in mind, solar is generally better for urban areas while wind energy is effective for more rural, agricultural, and working landscapes due to the space required for the turbines.
So, while we’re at it, let’s talk wind.
The Cost of Wind Turbines
For this conversation, we’re going to be sticking solely to small wind turbines—the kinds that power individual homes—and not the mega turbines used in the development of wind farms (often placed on agricultural land). If that’s something that interests you, you can check this out.
For those who are curious about installing small wind turbines in order to power your home, here’s the breakdown:
The average price of a small wind turbine is $3,000 to $5,000 for every kilowatt of power capacity. Typically, and depending on the size of the home, you can expect to need between 5 and 15 kilowatts of power. This means a cost range of $15,000 to $75,000 (before any government grant savings).
Wind turbines can be a good solution for someone who wants to transition to clean energy but doesn’t live somewhere with consistent sun.
If you’re wondering if a small wind turbine(s) makes sense for you and your budget, consider the following:
- Do you live in a windy area? As obvious as this question may seem, it’s an important one. Consistent wind is needed for turbines to produce energy. Wind speeds on your property less than 5 meters per second are not likely to produce the energy your home needs to function.
- Do you have the space? Even though we’re referring to these turbines as “small,” they still need a certain amount of space and to reach a decent height to run efficiently. It’s recommended you have at least one acre of clear land in order to install and maintain the turbines.
- Maintenance. Like solar panels, a well-maintained wind turbine system will last you 20 or so years. However, unlike solar panels, the turbine blades will need to be changed every 10 years or so. You also may be responsible for electrical connections and wiring, as well as replacing corroded parts over time.
If this sounds interesting to you but you’re not sure if your home is a good fit, you can also consider micro wind turbines, which can be used to charge things like batteries for RVs, sailboats, and generators.
In Conclusion
As it turns out, there are numerous effective strategies for reducing your home energy costs and promoting sustainability! From unplugging unused electronics to installing your own private wind farm. Tailor a plan that suits your specific needs and budget. By implementing these measures, you can not only save money but also contribute to an eco-friendly and energy-efficient household.
The time for cleaner energy is now—let’s do it together!
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