Investor Think[Box]

Electricity is a vital resource that powers many aspects of our lives, from powering our homes to running our appliances and devices. However, electricity can also be expensive, and with energy prices on the rise, many people are looking for ways to save money on their electricity bills. Here are some tips on how to save money on electricity:

Upgrade to Energy-Efficient Appliances

Energy-efficient appliances are designed to use less energy than traditional appliances, which can lead to significant savings on your electricity bills. Look for appliances with an ENERGY STAR rating, which indicates that they meet strict energy efficiency guidelines set by the U.S. Environmental Protection Agency. For example, upgrading to an energy-efficient refrigerator can save you up to $260 over the course of its lifetime. Similarly, upgrading to an energy-efficient dishwasher can save you up to $35 per year on your electricity bills.

Our Recommendations:

Use LED Light Bulbs

LED light bulbs use significantly less energy than traditional incandescent bulbs and last much longer, which can save you money on your electricity bills over time. They are available in a range of brightness levels and can be used in any light fixture. Although they may cost more upfront, they can save you up to $80 over the course of their lifetime. For example, replacing the five most frequently used light bulbs in your home with LED bulbs can save you up to $75 per year.

Our Recommendation:

Linkind A19 LED Light Bulb. These bulbs come in a variety of shades including soft white, cool white, warm white and daylight. Linkind A19 is expected to last 13 years (based on 3 hours/day) reducing turnover of your light bulbs. They’re also dimmable down to just 10% allowing for additional cost savings and additionally, these bulbs power up immediately, requiring no warm-up time.

Install a Programmable Thermostat:

A programmable thermostat can help you save money by automatically adjusting the temperature in your home when you are away or sleeping. By reducing your energy usage during these times, you can save money on your electricity bills. For example, reducing the temperature by 7-10 degrees for 8 hours a day can save you up to 10% on your heating and cooling bills. By installing a programmable thermostat, you can save up to $180 per year on your heating and cooling bills.

Our Recommendation:

Google Nest Learning Thermostat 3rd Generation. What sets the Nest Thermostat apart is its intelligence. It learns your preferred temperature settings and automatically adjusts them to maximize energy savings, helping you reduce your energy bill while keeping you comfortable. Plus, you can control the temperature remotely using your smartphone, tablet, or voice assistants like Google Assistant or Amazon Alexa.

But that’s not all – the Nest Thermostat also helps you stay informed about your energy usage with monthly energy reports, so you can see how much energy you’re using and where you can make adjustments to save more. And if you have other Nest devices, like Nest cameras or Nest Protect, you can even integrate them to create a more connected and secure home.

Seal Air Leaks:

Air leaks in your home can cause your heating and cooling system to work harder, which can lead to higher electricity bills. Check for air leaks around windows, doors, and other areas where air may be escaping, and seal them with caulking or weather stripping. This can save you up to 10% on your heating and cooling bills. For example, sealing air leaks around windows can save you up to $110 per year on your electricity bills.

In addition to its energy-saving benefits, caulk can also help keep your space free of pests, dust, and other unwanted particles that can enter through air leaks. By sealing these gaps, you’ll improve the air quality in your home or office, making it a healthier and more pleasant place to be.

Our Recommendation:

Flex Shot Rubber Adhesive Sealant Caulk. No need for a caulk gun here. With thousands of reviews under its belt it’s a simple product, simple solution with an amazing impact.

Use Power Strips:

Many electronics and appliances continue to use electricity even when they are turned off. By using a power strip to turn off these devices when not in use, you can save money on your electricity bills. For example, turning off your computer and monitor when not in use can save you up to $75 per year. By using a power strip to turn off multiple devices at once, you can save even more.

Our Recommendation:

Tripp Lite 12 Outlet Surge Protector Power Strip. This surge suppressor provides 12 total outlets and the ability to accommodate 4 large transformer plugs without covering the remaining outlets, while the extra-long 8 foot ac power cord acts like an extension cord to give you the flexibility to reach distant outlets.

Tripp Lite 3 Outlet Portable Surge Protector Power Strip. An absolute rockstar for travel. The Tripp Lite is perfect for at-home and on the road users as it is equipped with powerful surge protection for three 5-15R outlets and 2 USB outlets. Lifetime Warranty Included.

Take Advantage of Natural Light:

Use natural light whenever possible by opening curtains and blinds during the day. This can help reduce your reliance on artificial lighting and save you money on your electricity bills. Installing skylights or light tubes can also help bring in more natural light. By using natural light instead of artificial lighting, you can save up to $130 per year on your electricity bills.

Adjust Your Habits:

Small changes in your daily habits can add up to significant savings on your electricity bills. For example, turn off lights and electronics when you leave a room, wash your clothes in cold water, and use your oven sparingly. These changes can help reduce your energy usage and save you money on your electricity bills. By adjusting your habits, you can save up to $150 per year on your electricity bills.

Take Away

By implementing these tips, you can save money on your electricity bills without sacrificing comfort or convenience. With a little effort, you can reduce your energy usage and help protect the environment at the same time. It’s also worth noting that many utility companies offer rebates and incentives for energy-efficient upgrades, so be sure to check with your local utility company to see what programs are available to you.