3 Ways You Can Save on Energy Costs

The talk of looming inflation has taken over the airwaves. Essentially, this means things might get worse before they become better. Expert economists advise being frugal in readiness for the oncoming recession. But you don’t have to be bombarded with news of doom to save. It’s prudent to save for a rainy day. One way is to cut down on energy bills. Although US energy consumption is expected to dip by 0.9% per the US Energy Information Administration, the Union of Concerned Scientists estimates that electricity consumes 2.3% of a US household’s salary on average. Luckily, there are clever ideas to save on energy costs without necessarily reducing consumption. Here’s how.

1. Replace an Old Garage Door With an Energy Efficient Model

Did you know that you can save up to 25% on your monthly energy bill by upgrading to an energy-efficient garage door? Yes, that’s right, as per A1 Doors, albeit surprising. An old non-insulated garage door isn’t the obvious suspect in your rising monthly energy bills. However, you should be concerned if you have an attached door.

Typically, attached garages share common walls with your house. A faulty door allows cold or hot air to blow through the door, affecting the nearby living spaces. As a result, your air conditioning overworks to regulate your home temperatures. For this reason, your energy bill goes high, meaning you’ll spend more money. Insulating a garage door will significantly help stabilize garage temperatures, minimizing heat gains or losses. In this case, you’ll spend less on your heating and cooling bills, saving money you would use on your energy costs.

2. Upgrade HVAC System

Replacing your old HVAC with a newer model can help save money. Typically, newer systems tend to be more energy efficient than old ones because they use less energy to regulate your home’s temperature. Although you might incur higher upfront costs, you’ll save more money in the long run.

Old AC systems lose efficiency as they age and are more likely to malfunction. The frequent repairs may be costly in the long run. However, if your HVAC is relatively new, you should consider repairs. The good news is that there is no shortage of HVAC technicians in the country. According to the Bureau Of Labor Statistics, HVAC jobs are poised to grow by 5% between 2021-2031.

3. Replace Your Bulbs

Typical incandescent lightbulbs usually consume excessive electricity. Also, you have to replace them regularly compared to their energy-efficient alternatives. Therefore, you should fit your home with compact fluorescent lights (CFLs), light-emitting diode bulbs (LEDs), and Halogen incandescent bulbs that tend to use relatively less electricity. Additionally, they last way longer than conventional bulbs.

Ideally, choose bulbs with the energy star label (government-supported label indicating energy efficiency). Although energy-saving bulbs are a bit pricier off the shelf than traditional ones, they’ll save you money in the long run with their energy-saving and long-lasting attributes. Note that unnecessarily high bills can negatively affect finances, greatly threatening modern marriages. In fact, according to Wilkinson and Finkbeiner, about 40% to 50% of marriages in the US end in divorce. For this reason, you need to minimize your energy bills; they might be the difference between a happy marriage and an ugly divorce.

In a country struggling with high inflation rates, finding options to save money at all costs is essential. Energy costs may take up a huge percentage of your bills. For this reason, try and find strategies to minimize energy bills, like replacing your traditional bulbs with energy-saving options and upgrading your HVAC system and garage doors. By reducing energy expenses, you can boost savings. When the economic storm comes, you’ll be prepared. If it doesn’t, you have extra cash to boost investments. Either way, it’s prudent to cut costs and save more.

Posted in: Money

Top of page