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Maxion Research > Personal Finance > Benefits & Savings > Your Electric Bill is Draining Your Wallet! Learn How to Slash It
Benefits & Savings

Your Electric Bill is Draining Your Wallet! Learn How to Slash It

Leslie Turner
Last updated: 2024/03/05 at 2:58 PM
Leslie Turner
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The horror! The dread! The sheer, unadulterated terror of… your electric bill? That seemingly innocuous piece of paper that lands in your mailbox every month is actually a ticking time bomb, ready to explode and decimate your hard-earned savings. But together, we will navigate the treacherous waters of energy consumption and emerge victorious, with our wallets intact.

Contents
The Unseen ApocalypseDishwasher DelightBeat the Heat with Ceiling Fans and LED LightsSmart CookingPower Strip WisdomMastering Energy Efficiency in Everyday Life

The Unseen Apocalypse

You’ve probably noticed that your gas and electric bills have been more costly than usual this year. In fact, the EIA estimates the Northeast regions could see a $100 increase in wholesale electricity over last year. And other regions across the country are seeing rising prices too. If you’re looking for ways to cut down on utility costs, there are plenty of simple measures you can take to lower your energy bills.

Dishwasher Delight

According to the California Energy Commission, using an Energy Star-qualified dishwasher instead of hand washing can save you 5,000 gallons of water and $40 in utility costs each year, on average, not to mention 230 hours of your time. Opt out of the heat-dry cycle on your dishwasher. Instead, crack open the door and let your dishes air-dry. If your dishwasher has an air-dry option, use that instead of heat-dry. Air drying plates can reduce your dishwasher’s energy use by 15% to 50%, according to the California Energy Commission. 

Beat the Heat with Ceiling Fans and LED Lights

If you live in an area of the world where the summers are hot, turn on your ceiling fans instead of touching the thermostat. Using a ceiling fan can make a room feel 10 degrees Fahrenheit cooler, and a fan uses 10% of the energy that a central air conditioner does, according to the US Natural Resource Defense Council. If you haven’t switched to LED lighting, now is the time. The US Department of Energy says that LED bulbs use at least 75% less energy — and last 25 times longer — than incandescent lighting. That equals a lot of savings over time.

Smart Cooking

According to the California Energy Commission, if you turn off the burner early, the stove will release enough heat to finish up whatever you’re cooking and save electricity. This tip works for most dishes, though there are a few exceptions. Every time you open an oven door while cooking, the internal temperature can drop 25 degrees Fahrenheit. The oven then has to use more electricity to bring the temperature back up. To save electricity, peek through the window and rely on the oven’s light instead of opening the door.

Power Strip Wisdom

According to the US Department of Energy, electronics on standby account for 10% or more of your electricity bill. One of the best ways to control these power wasters is by plugging them into a power strip or a smart outlet like the TP-Link Kasa Smart Wi-Fi Power Strip. Just switch the strip off or use the smart switch’s app to turn off electricity guzzlers when you go to bed or you’re not home. Still have that thermostat from the 1970s? Switch it out with a programmable thermostat such as the Nest, Ecobee or Honeywell. According to the Alliance to Save Energy, switching to a programmable thermostat can save you save up to 10% on cooling and heating costs.

Mastering Energy Efficiency in Everyday Life

Who knew our electric bill could be such a nightmare, right? But fear not! With some simple tweaks, we can totally flip the script on this situation. Energy costs are on the rise, but swapping hand-washing for an energy-efficient dishwasher, using ceiling fans instead of cranking up the AC, and switching to LED lights can make a big difference. Plus, smarter cooking and using power strips for electronics can save us even more.

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