Personal Finance Resources: Financial Education & Literacy

Cool Down Your Electric Bill

Written by PSECU | Jun 5, 2023 12:00:00 PM

As temperatures heat up, learn how you can keep your electric bill from rising along with them (and do the environment a favor, as well!)

Read below for our tips and tricks for every budget to lower your electricity usage and your bill over the coming summer months.

Low- or No-Cost Switches

Improving your home's energy efficiency doesn't have to be expensive. If you're on a tight budget or just don't have extra cash for energy-saving upgrades, there are still steps you can take to lower the amount you spend on electricity.

  • Unplug when you travel. Before you leave home, unplug the electronics in your home. Computers, TVs, and even lamps can drain electricity when not in use. Shut them down properly to avoid unnecessary electricity use while you're away.

  • Give your appliances a break. Large appliances like dishwashers, washers, and dryers all take a lot of energy to run. So while it can be tempting to run a small load of laundry or dishes before the machines are full for convenience, wait until they're at capacity to hit the power button. In addition to saving money, running your appliances less frequently can also help extend their lives and lower maintenance costs.

  • Choose the best utility company for your needs. Some states, like Pennsylvania, allow residents to choose their electric supplier. This means you can shop to see which supplier would be best for your needs. Research different suppliers' programs and whether a fixed or variable rate would be best for your family. Additionally, review the green energy options some providers offer to see how you can reduce your home's environmental footprint.

Mid-Range Cost Switches

  • Change your lighting. Replacing the light bulbs in your home with energy-efficient LED bulbs can deliver big benefits. The downside is that LED bulbs are more expensive than regular bulbs, The price is often worth it, though, as LED bulbs use at least 75% less energy and last up to 25 times longer.

  • Invest in a smart thermostat. If your home relies on electric heat, a smart thermostat puts energy conservation in the palm of your hand. Smart thermostats allow you to put your home's temperature on a schedule and can be connected to your phone to allow you to make adjustments on the go.

  • Keep up with regular maintenance. Following the maintenance schedule for your heating and cooling system(s) isn't always cheap, but it's an easy way to reduce energy usage and keep your HVAC systems in good shape. While you can do some tasks on your own, such as checking and changing air filters, it's typically recommended that you have a professional come out for an annual inspection and tune-up to make sure your system is performing efficiently and safely.

Larger Upfront Commitments

  • Upgrade to energy-efficient windows. Windows can be very expensive. But if you have the means to swap out old windows with energy-efficient ones, it can lead to big savings. Having newer windows can reduce drafts and help your home maintain your desired temperature.

  • Go solar. Solar power systems have become more affordable, making them increase in popularity as well. In addition, there are often tax rebates and other incentives available to those who purchase solar systems. If you're interested in getting a specific price for your location, consider scheduling a free estimate with a reputable company. Just don't feel pressured to sign on the dotted line if the system's not in your budget.

  • Convert your appliances to gas. Gas appliances can be more expensive to purchase up front, but they're often more efficient, resulting in savings on a day-to-day basis. If you don't have natural gas available on your property, consider contacting the local gas company to find out if they offer any discounts on running the lines to your house, which could make it more affordable to make the switch.

Make Energy Use an Everyday Priority

No matter your budget, one of the best things you can do is to be mindful of your daily energy consumption. Turning off the lights when you leave a room, shutting off your laptop when you're not using it, and turning on a fan instead of running the A/C are all small habits that go a long way toward keeping your bills in check and making your home more energy efficient.

For more energy efficiency tips and tricks, check out our resource center.