How to Save money on your home’s energy bill
A $100 bill doesn’t sound like a lot when you’re saving money on energy bills.
But when you factor in the cost of a $20 electric bill and your monthly electric bill, you can save more than $500 annually on your energy bills!
According to The Energy Star Institute, the average energy savings of a person is $6,000 annually.
With that amount of savings, you could save a lot of money on the energy bill.
In fact, the Energy Star’s 2018 State Energy Savings Report found that the average residential energy bill savings is $5,000 per year.
If you save $100 on your monthly energy bill, that savings could save you $9,500 annually.
So, the best way to save money on electricity is to shop around.
You’ll need to take some extra steps to save on energy bill and energy costs, including checking with your utility company and your credit card company.
But, if you’re a home owner, you’ll probably find it easier to shop online, than it is to visit your local utility company.
There are many energy savings websites that you can use to find the best rates, but the EnergyStar Institute recommends the Energy Department’s website for more information.
Here are the steps you’ll need if you want to save energy on your electricity bill:Use your online account to check out the energy costs of the energy providers that you use and compare prices between them.
For example, to compare rates for electric rates, go to the Energy STAR Institute’s website.
Use your credit or debit card to check the energy savings that are reflected in your account.
If your electricity bills are $1,000 or less, use your credit/debit card to pay for the energy you’ll save.
If the bill is more than your credit limit, use a cash advance.
For example, if your bill is $1.25 per kilowatt hour, you’d need to use a credit card to save $1 per kilogram of electricity.
Once you’ve saved money on power bills, you may be able to save even more if you consider certain energy costs that you may not be aware of.
For instance, you might pay for your electricity with a bill credit or utility rebates.
If that’s the case, you should look into other energy savings opportunities that might be available to you.
You can also consider energy savings through the National Low Income Energy Rebate.
The rebate offers a tax credit that you receive if you use up to 20% of your energy savings to reduce your utility bills.
The credit is a refundable tax credit and is only available to low-income individuals.
For more information on the rebate, visit the Low Income Rebate Program.
Here’s a list of other energy-savings opportunities that you might find helpful.