The top seven ways to reduce your electricity costs

The United States has experienced a scorching summer with heat records broken. And it appears that the worst is still to come. Many of us are turning up the heat in our homes, which raises the cost of electricity, particularly during peak hours when demand is highest.

In order to keep the grid stable and prevent the need for additional power generation, some electricity companies employ this pricing technique to encourage customers to use less electricity during certain times. In light of the foregoing, here are some cost-effective tech techniques you can use to reduce your next electric bill.

This is the easiest and most effective approach to reduce your electric bill. Your utility cost might go down by up to 25% just by using less energy. About 12% of the energy used in a home is used to power lights, electronics, and other devices. By closing doors and windows, utilising appliances during off-peak hours, using a power strip, conducting an energy audit, and turning off lights and unplugging electronics when not in use, you can use less energy overall.

Not all electric companies nationwide use this pricing method; it's especially prevalent in larger cities and populated areas. However, it's worth a check to see if your electric company does in fact, note peak hours or time-of-use (TOU) rates, which charge more for electricity during high-demand periods and less during low-demand periods. Peak hours may also vary by season and region, depending on factors like weather, daylight, and consumer behavior.

The best way to find out your electric company’s peak hours is to contact them directly or visit their website. You can also do an internet search of [your electric company’s name] + peak hours.

If you do have peak hours in your region, the best way to save money immediately is to limit the use of your thermostat to other hours. Different providers may have different peak-hour schedules, and they may vary by season or by day of the week. For example, some providers have peak hours from 2:00 pm to 7:00 pm on weekdays, and some have peak hours from 7:00 am to noon on weekdays. A good strategy would be to pre-cool your home before the peak hours begin and then set the thermostat to a higher temperature during the peak hours.

For example, you can set the thermostat to three degrees below your preferred temperature three hours before the peak hours begin and then set it to three degrees above your preferred temperature when the peak hours begin. When the peak hours end, you can set it back to your preferred setting. One great way to do this is to use a smart or WiFi-enabled thermostat.

Benefits of a Smart Thermostat

Cons of a Smart Thermostat

Benefits of a WiFi thermostat (that isn’t ‘Smart’)

Cons of a WiFi thermostat

One thing you may not know is that many of your electronic devices still take up energy when plugged in, even when switched off. Smart plugs can save you in that department by allowing you to control the amount of energy a particular device takes up through WiFi controls and even turning certain outlets off entirely. Our most recommended smart plugs are the following:

While it is expensive to replace appliances, energy-efficient appliances will save you money on your electric bill in the long run. There are now rebates available that can cut the cost of these upgrades by 30%. You can look for appliances that have the Energy Star label, which means they meet strict energy efficiency standards set by the government. Some of the appliances that can benefit from an upgrade are your HVAC system, your water heater, your fridge and freezer, your washer and dryer, and your dishwasher.

LED bulbs use up to 80% less energy than incandescent bulbs and last up to 25 times longer. They also produce less heat, which can help keep your home cooler in the summer. You can save about $75 per year by replacing the most used bulbs in your home with LEDs.

Also, consider using smart light bulbs, which are LED light bulbs that connect to the internet through WiFi or a hub. Connected to the internet from your WiFi or a hub, you can control when, how long, how often, and how brightly (and even what color) your bulb often shines from the comfort of your cellphone, tablet, smartwatch, or voice assistants. Smart light bulbs use at least 75 percent less energy and last 25 times longer than incandescent bulbs.

Solar panels can generate clean and renewable energy for your home, reducing or eliminating your dependence on the grid. Depending on where you live, how much sun you get, and how much electricity you use, solar panels can save you hundreds or thousands of dollars per year on your electric bill. You can also take advantage of tax credits, incentives, and financing options to make solar more affordable.

Be sure to check out some unexpected ways to lower your energy bills that I've discovered. You'll learn about new and traditional products that can help create a cooling strategy that gives you more control and helps you save money at the same time.

Beat the heat this summer with some great fans, coolers, and sleeping solutions to help you stay chill this summer. 

Kurt's key takeaways

You can totally save some cash on your electric bill with a few of my tips. First off, try using less energy by being mindful of things like turning off lights and unplugging electronics when you're not using them. It's also a good idea to use your appliances during off-peak hours and make sure your doors and windows are sealed up tight. 

Check if your electric company has peak hours or special rates and adjust your thermostat accordingly to save energy during those times. If you're up for it, getting a smart or WiFi-enabled thermostat can make temperature control a breeze and help you cut costs. Smart plugs are another nifty option for remotely turning off devices during those peak hours. 

Upgrading to energy-efficient appliances and swapping out your old bulbs for LED ones can make a noticeable difference too. And if you really want to go all out, consider installing solar panels to generate clean and affordable renewable energy.