How Can Upgrading Your Appliances Cut Your Energy Bill? Three Tips for Saving Money

Written by Small Business Tips. Posted in Changing electricity providers, How to switch electric providers, Switch electricity companies

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Did you know that the electricity fireflies produce using chemical energy is more efficient than one of the most well known electrical inventions, the light bulb? Fireflies only lose 7% of their energy to heat, while ordinary light bulbs, on the other hand, lose 95 percent.

When you want to save money on your electrical bills, there are a few steps to take. Different companies and technologies can impact the price you pay for the power that lights up your home and turns on everything from your computer to your microwave. Here are three useful tips for American homeowners looking to save.

1. Can You Switch Electric Companies?

Yes; that is, if you live in a deregulated state. Currently, 15 states and the District of Columbia are deregulated, and allow companies to compete. You can compare electricity providers online using free comparison tools. Just remember to compare like amounts- that the price estimate is for the same amount of energy. Also check whether the price is variable or set, and if there is an early termination fee if things don’t work out. Before switching companies, try calling your current company to see if they can match the price.

2. Ways to Save on Electric Bills: Proper Maintenance

According to BankRate financial advice, many homeowners make the mistake of not taking proper care of their HVAC system. It’s easy to put off buying a new filter, but this decision can cost you money. A reusable filter is a good idea; not only will you save on not having to buy disposable filters, but the ease of cleaning will help you keep your HVAC system running as efficiently as possible. A clean air filter can reduce your HVAC’s energy consumption by as much as 15 percent!

3. Save Money on Electricity by Upgrading Your Appliances

Did you know that utility companies and local governments often offer monetary incentives for people willing to upgrade their appliances? Upgrading will not only get you a better machine, but it will get you a more energy efficient model that saves you money every time you use it. New York, for example, has a program that offers $105 for an energy efficient refrigerator if you recycle your old one. According to the National Resources Defense Council, energy efficient refrigerators use less than 50% of the energy 12+ years old models use.

What ways to save on electric bills do you know? Let us know in the comments! Read more.