20% of the energy in our homes goes wasted, each year. That’s $400 of hard-earned money, down the drain, (or out the window), wasted each year, per household. Unfortunately, most of us do not realize this, and end up paying far more than we have to. Here are 4 energy saving tips to help cut down your monthly electricity bill.
1) Unplug Phantom Appliances
11,000,000 homes could be be powered for one year with all the energy that goes to powering unused appliances, called “Phantom appliances”. In total, these unused appliances cost consumers $5 billion in utility fees each year.
Here are the two most common energy phantoms.
The Cable Box
The cable box and DVR are by far the worst energy phantoms in your home. Because these appliances are constantly running, they are using electricity and offering little benefit most of the time.
Altogether, it is estimated that Americans waste $2 billion on their cable boxes over the course of the year. That means that each of the 53 million homes in the US with a DVR is spending over $35 per year on wasted energy powering their cable box.
To combat this energy vampire, plug your DVR or cable box into a smart power strip, which automatically cuts power during down times to save substantially.
Like the cable box, the stereo tends to stay plugged in, even when not in use, leading to wasted energy. While it may not seem like a big deal, some older stereos can cost over $50 in unused energy costs each year.
By plugging the stereo into a smart power strip, you can cut down on unnecessary energy costs.
2) Search For The Energy Star When Buying Appliances
Energy Star is a government program that highlights appliances which meet certain criteria for energy efficiency. According to a recent report by Fox News NY, switching to an Energy Star Fridge can save over 50%, dropping energy costs from $50 to just over $30 per year.
Furthermore, the government occasionally offers tax breaks and other benefits to those who choose Energy Star appliances, adding to the net savings you could realize by switching to Energy Star appliances.
Related Article: Energy Star Ratings
3) Look For LED
According to Fox News: switching from a Plasma TV to an LED TV can save 217% on a “per-appliance” basis. That can help the average home save $10-20 per month, just on TVs!
LED lights are also incredibly beneficial, saving both energy and time. LED light bulbs consume less energy, which makes the light bulb last longer, and ultimately, means less time changing light bulbs. In fact, LED lightbulbs last 6 times longer than incandescent light bulbs, and cost half as much in electricity expenses.
4) Choose A More Cost Effective Energy Supplier
By comparing and switching energy suppliers online, electricity and natural gas customers in energy deregulated states like New York, Pennsylvania, Illinois, and Texas can save $200 or more over the course of the year. Consumers in several states can save by switching to low-cost, fixed rate energy plans. To learn more or check availability in your area, enter your zip code in the orange box and start shopping today!