Saving on your Energy Bill
Ever since I became financially independent, people have constantly asked me how I did it. Everyone seems to want to know how to make money online, whether it’s to supplement his or her current income or to replace it completely.
But financial freedom is not just about generating more income – this is only half of the equation… In addition to creating passive income, you also want to reduce your monthly expenses so you can invest the difference back in your business.
Today I’d like to share with you a few quick energy saving tips for conserving electricity and cutting your energy costs, which can save you hundreds if not thousands of dollars per year, depending on your usage.
Pick the ones that resonate with you the most and start making changes today.
Remember, ongoing savings is always a priority…. Even if the monthly saving figure is modest, the accumulated savings over a period of time can be significant.
Saving on Your Lighting Costs
The simplest way, of course, is to turn off your lights when you aren’t using them, but that’s not the strategy I wanted to discuss. I’d like to talk about replacing your light bulbs.
Why light bulbs? Because light bulbs account, not only for up to 25% of all electricity used, but also for a significant amount of wasted energy.
According to research, it is estimated that more than $500 million could be saved annually, and around 10 billion pounds of greenhouse gas could be prevented from entering the atmosphere each year, if every household in the U.S. replaced just one regular light bulb with a more energy-efficient alternative….
1. The first tip is very simple – replace any incandescent bulb that you use more than 10 minutes per day with a more energy-efficient alternative.
You see, when you use incandescent bulbs, the old standard light bulbs, you pay more for light and it probably drives your electricity bill up significantly; These old bulbs are know to only convert 10% of energy to light and the rest is lost producing heat.
Incandescent bulbs also have a shorter lifespan than any other bulb type, therefore costing you more to replace and power than is saved on their initial purchase price.
Replacing these bulbs with with LED (Light Emitting Diodes) fixtures can reduce electrical costs up to 95%. LED bulbs are also brighter so you can enjoy more light.
Another good option is CFLs (Compact Fluorescents) bulbs, which are simply mini versions of standard fluorescent light bulbs. You can achieve up to 75% savings with these type of bulbs.
LED lights generally cost more than CFLs, however they last longer, so even though you’re paying more initially, you buy fewer bulbs over time.
Whichever bulb type you end up choosing, make sure you get a trusted brand that fits your lighting needs.
Additionally, if you can’t afford right now to switch to LED or CFL light bulbs, you can still reduce your monthly bill simply switching to a lower wattage bulb such as a 20W or 35W bulb.
Lastly, a great way to get a natural-light feel in your home is installing skylights or solar tubes. These roof daylighting techniques reduce the amount of artificial lighting needed and that usually translates to significant savings on your energy bill.
2. Replacing old light bulbs is not the only way to save money on your lighting costs. Use natural light as much as possible – It’s free and you’ll likely have to spend very little to enhance it.
Here are a few simple ways to take advantage of your home’s natural light:
– Open all curtains and blinds before you turn any light on.
– Keep windows clean and free from obstructions
– Consider placing mirrors opposite your windows to increase the light reflected in the room.
Save Energy Via Your Appliances
3. It’s estimated that around 75% of all power used by plug-in devices is wasted as standby power. The solution: Switch appliances off at the plug when you’re not using them, especially when you go on a holiday or weekend away.
This includes appliances like televisions, sound systems, DVD players, microwave ovens, computers, and even dishwashers, wireless Internet modems, and washing machines.
4. When looking for a new appliance, buy the most energy-efficient model possible. You can compare energy ratings on the stickers on appliances in the shops, or online. The More energy rating stars, the better. It might cost more initially but it’s well worth it in the long run.
Also, pick the right size appliance and don’t be tempted to buy something too big. A large 5 star energy rating fridge, for example, can use more energy than a smaller 4 star fridge.
5. Charge your mobile phone and laptop when you are awake as oppose to when you sleep. When these devices are plugged in overnight and becomes fully charged, they still consume electricity.
6. Heating the water in a washing machine accounts for around 90% of the energy the machine uses. The solution: stop using heat whenever you can and wash your clothes on cold.
The same can be said about your dishwasher. Simply reduce the amount of heat you use and load your machine as efficiently as possible.
7. Go solar where you can or buy solar made products. Sure, these products can be expensive to buy, but they are cheaper in the long run than electricity.
Saving on Heating and Cooling Costs
Let’s complete the picture by looking at how to cut your heating and cooling costs.
Given that heating and cooling are huge energy drains—representing around 40% of household energy usage – the potential savings benefits, both in terms of money saved and carbon emissions reduced, are fairly significant.
8. Changing your thermostat by just 2 degrees can add 10-20% to the running cost of your heating or cooling units, so make sure you set them at optimum temperatures. The ideal temperature in winter, for example, is is 64-68 degrees Fahrenheit (18-20 C).
9. Set your hot water tank temperature at a lower level (if possible) and consider installing a separate timer so you can set a specific water heating time. Also, consider insulating your hot water pipes and the side of the tanks as they can easily lose heat.
10. If your home is uninsulated, consider adding ceiling insulation (Around 35% of energy is lost through the ceiling) – It will keep the warmth in during winter and keep out unwanted heat in summer. Carpets are another form of insulation – They will help to reduce heat loss through the floor.
11. The most inexpensive form of heating comes from the sun. On cold mornings, open your curtains to let the warming daytime sun into your home. Conversely, on warm mornings, draw the curtains and close your windows to keep hot air out. A quality long curtains.
12. Installing draught seals and sealing strips that can be used around doors and windows in order to reduce draughts can also help to reduce heat loss. A simple way to check for drafts is to light a candle and hold it in front of your windows/doors.
13. Avoid using electric heaters in big spaces as they are more expensive to run. Some better choices are: high-efficiency natural gas heaters and reverse-cycle air conditioners. In small spaces, electric heaters can be a good option as long as they are used occasionally.
14. When it comes to keeping your house cool, consider installing a ceiling or wall fan. They are significantly cheaper to operate. Operating an aircondition unit can cost up to 80 times more than a fan. Needless to say, if you decide to buy an A/C unit, make sure it has a high star rating.
15. On very cold nights dress appropriately. Thick socks, high quality trainers, plus a good blanket can make the world of a difference.
16. If your A/C unit has adjustable louvers, adjust them up towards the ceiling. It’s a more efficient way of cooling a room as cool air falls and hot air rises.
17. Another way to keep your room cool and reduce your costs is to install outdoor blinds. It is estimated that 50% of household heat is gained through the windows and high quality blinds can reduce this number dramatically.
* If you’re seeking extra motivation and inspiration on your journey of personal growth, I recommend taking a look at my SMART growth goals page, This page offers thousands of goal ideas that can assist in the establishment of new aspirations and the attainment of greater heights in one’s life. In fact, it was instrumental in my creation of a list of 100 goals, which I pursued for a decade.
Chief Editor
Tal Gur is an impact-driven creator at heart. After trading his daily grind for a life of his own design, he spent a decade pursuing 100 life goals around the globe. Tal's journey and recent book, The Art of Fully Living, inspired him to found Elevate Society.
