How To Save More Money on Your Electric Bill — (2024)

When it comes to managing your finances, it is important to take a look at your expenses and see where you can make adjustments. It is MUCH easier to decrease your expenses than it is to make more money. Out of all the utilities you pay for, electricity is likely the most expensive bill that enters your home. If that is the case in your household, then it would be beneficial to you to find ways to lower this expense and save money on your electric bill. And with grace. No need to turn the lights off on your family eating dinner. But using these tips can potentially save your $100 or more a year.

Unplug Things You’re Not Using

My apartment is run completely on electricity as a source of power. So no gas bill for me. But this makes it much harder to keep that electric bill under control. Unplugging things you aren’t using helps to save money on your electric bill. How? In order to turn on “instantly”, things like your TV are constantly consuming energy.

Now you have to make this realistic right? I don’t reach behind my stove to unplug it or behind my large computer desk to unplug my printer. Some things I keep unplugged until I go to use it: phone charger, TV, toaster oven, blender, mixer. If you have a few things plugged in close proximity of each other, then putting them all on a power strip that you can switch off is an easy way to get the job done in one fell swoop. Simple savings!

Switching Out Your Light Bulbs

This is by far the easiest of the tips to apply. While LED bulbs are more expensive up-front than your traditional fluorescent or incandescent bulbs, the energy they save will help you save on your electric bill. Additionally, they tend to last longer so you buy fewer light bulbs which is another savings opportunity. I seriously feel like my LED bulbs might outlive me. I bought them in 2017 and haven’t replaced them since. If you’re unsure if your bulbs are LED, take one to your local hardware store. If they aren’t, then ask an employee to show you where to find the LED equivalent.

Energy-Efficient Appliances and Electronics

The building I live in was built in the ’80s so the appliances were from that time obviously. This means that these appliances were not energy-efficient. So when the original washer/dryer went, I searched for an energy-efficient washer and dryer. How do you identify an appliance as energy-efficient?

When replacing your appliances, look for ones marked ENERGY STAR certified. When brands apply and get approved for this certification, they are assuring that the product is energy-efficient without sacrificing performance. Not only do you get to save money on your electric bill, but you can also see if your new purchase qualifies for a rebate. Check your provider’s website for available rebates. Honestly, you may want to check out your provider’s site to see which items qualify for a rebate prior to even making your purchase. If you bought any appliances in the last six months, I would still check to see if you qualify.

Decrease Hot Water Heater Temperature

Do you know what temperature your hot water heater is set at? Manufacturers pre-set them but it may not be optimized for savings. Turning down the temperature is quick (usually takes about two minutes) and easy. Just look up the your manufacturer’s instructions. There is a balancing act when it comes to this. You don’t want your water so hot that it burns the people using it. However, you also don’t want it so low that your water tank can grow diseases. On average, it seems like 120ºF is safe for most though people who are susceptible to burning like children and the elderly may still get burned if they lose track of time when using the hot water. If there are people in the home that are at high risk for illness or your local water supply tends to be on the questionable side, you may want to increase the temperature to 140ºF. To decide which side of the spectrum to be on, contact your water supplier via phone or their website and see what they recommend.

Manage Your Use

Aside from unplugging items when you’re not using them, there are some other small things you can do to conserve energy and save money on your electric bill.

1. Use a thermostat. Most thermostats have a feature where you can schedule when the heat or AC turns on and off. So have it set to a comfortable temperature when you’re home and off while you’re at work.
2. Using thermal blackout curtains can help to conserve heat in a room so your heater doesn’t have to work so hard to keep that room. The less your heater has to work, the more you save. When it’s hot outside, closing these curtains helps to keep the heat from outside from heating up your home.
3. Using a space heater when it’s cold or a fan when it’s hot can save tons of money. My apartment has an open layout so it is a central air/heat nightmare. When we first moved, our electric bill was INSANE! Something had to give. So instead of heating/cooling the bathroom or the second bedroom that I’m never in, I use a space heater or fan where you can usually find me, on my couch or in bed.
4. Turn off things when you’re done using them. Don’t leave the TV on when you go to sleep. Don’t leave the water running when you’re done washing your hands. Basic stuff.

Changing Your Energy Supplier

If your state allows it, while you usually can’t change the company that delivers your power, you can change the company that supplies it. This means you can shop around. This does take some legwork for price comparison. When I’ve done it, I usually take advantage of an offer that comes to me. My utility company makes it easy for me to identify if I will save money by switching by putting the a price to compare box right on my bill.

If you’re taking advantage of an offer, it may offer a fixed price per kWh for a period of time. So please read the fine print as to when the promotional pricing ends. If the price shoots up past what your utility company would charge, you may want to cancel before the new variable price kicks in.

Bonus: Off-Peak Hours Use of Power

I put this as a bonus because even though you’ll find a lot of people recommend using electricity at night to save on your electric bill, your ability to save is outside of your control. Whatever do I mean? I looked up what my energy provider considers off-peak hours (9 PM – 7 AM). This differs by location and provider so either search online or call your provider.

As a result, I made an active effort to wash clothes at night and charge my phone in the evening. However, I noticed that on my bill, I saw no discernible difference. So I asked a friend who works with my provider and he said there needed to be a special meter installed that could detect the time when the energy was being used. I called my provider and they confirmed this. They put a work order in to get it installed but this was in the thrust of COVID and right after a storm so they haven’t gotten to it yet. However, I’m excited about the savings when the time comes. In the meantime, I wash clothes whenever I feel like it.

What can you do with the extra savings? Build the life you want. Add to your emergency fund. Pay down debt. Start investing. You can even use the extra money to save up to buy something you need or want.

Do you use any of these tips to save money on your electric bill? If not, which one will you try? Share in the comments below.