The climb in energy prices has inevitably left many people wondering about all of their options for reducing their energy bills. According to the U.S. Energy Information Administration (EIA), as of December 11, the average residential electricity price in the U.S. is expected to rise to 15.39 cents per kilowatt-hour (kWh) in 2023. This is a large increase when compared to the average price in 2021 which was 13.66 cents.
Naturally, this increase in prices is heavily felt in the average American household’s energy bill. While it is not always possible to completely reduce the effects of this increase there are a few different steps that you can take in order to reduce your energy bills.
1. Use smart plugs, power strips and even thermostats
The number of plugs that are always left on without anyone realizing just how much energy is being wasted is actually quite large. Similarly, conventional thermostats will often stay on even when they don’t need to be. As a result, you end up having to spend a lot more on your bills than what you would have spent if there was someone who could efficiently set your thermostats for you. This is where smart plugs and thermostats can be key. These will usually turn off during specific hours of the day while ensuring that your home is at the perfect temperature for reducing energy costs.
2. Energy-efficient appliances
The amount of energy wasted by old-school appliances is actually quite high. One of the most wasteful appliances is the water heater. Switching from a regular water heater to a tankless water heater that simply warms up your water on demand could actually help you save up to 30 percent on your energy consumption. This is not a small amount especially when you consider how often you need hot water during the day.
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