10 Smart Ways To Cut Your Utility Bills

Published on April 22, 2021 at 5:43 am by Sajjl Nooranne in Lists, News

In this article we presented the 10 smart ways to cut your utility bills.

One of the highest expenses borne by homeowners is the periodic payment of utility bills. Since technological advancements allowed people to decide between light and darkness at the flip of a switch, they have become accustomed to, and dependent on, electricity and other household utilities. Moreover, because utilities such as electricity, water, natural gas, internet, and cable TV are expenses incurred automatically as part of our daily lives, they are often not the first thing we consider when thinking about trimming expenses. However, cutting our utility bills can be a huge step towards saving precious, hard-earned money.

Electricity prices in residential areas in the United States are expected to surge by a massive 2.8% between 2020 and 2021. As customers are burdened with heavier electricity bills each year, it is unsurprising that companies like The AES Corporation (NYSE: AES), UGI Corporation (NYSE: UGI), and CenterPoint Energy, Inc. (NYSE: CNP) announce rising revenues and become stronger in the stock market. Moreover, natural gas companies such as Cabot Oil & Gas Corporation (NYSE: COG) and Antero Resources Corporation (NYSE: AR) and cable TV companies such as Altice USA, Inc. (NYSE: ATUS) also demand heavy monthly compensation from their customers.

Recent technological developments as well as new, innovative businesses have created many alternative sources of utilities that are more affordable and hence contribute to saving their customers’ resources.

The major utilities generally used in the household are electricity, natural gas, and water, all of which are non-renewable. Electricity is primarily derived from thermal power, natural gas from fossils, and water from freshwater sources. Using all three kinds of utilities poses grave threats to the earth as the non-renewable sources might eventually be used up entirely. Therefore, renewable sources of electricity are being discovered, and slowly being adopted by the general population. For instance, First Solar, Inc. (NASDAQ: FSLR) sells solar paneling services such as the construction, maintenance, and recycling of the panels in addition to supporting services in the United States.

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Let’s now discuss the 10 smart ways for you to save on your utility bills.

Smart Ways To Cut Your Utility Bills

10. Waste Not, Want Not

The simplest and most obvious solution to cut utility bills is to reduce the wastage of utilities. Although they may seem redundant, steps such as switching off lights when leaving the room and turning off the tap while brushing your teeth is an easy way to significantly reduce utility bills and waste at the same time. Similarly, closing the refrigerator door as quickly as possible and taking shorter showers would also conserve precious utilities and money. Moreover, running few but full loads in the washing machine and dishwasher instead of running frequent half loads would save on the water and electricity bill both.

Another practice that takes hundreds of dollars off electricity bills is by using still water instead of running water. Specifically, bathing utilizes a mere fraction of the water that showering would use, making hygiene much less expensive. Similarly, using water filled in a container or the kitchen sink saves much of the otherwise running water wasted during washing vegetables or even dishes in the kitchen. However, it takes practice to develop the habit of conserving utilities; until then, families should help by reminding each other to switch off appliances that are not being used.

9. Go Natural

A smart way to cut utility bills is to use natural light for indoor lighting. In the daytime, natural light can easily be used to illuminate most parts of a house simply by opening curtains. Moreover, rearranging furniture such that the light would not get blocked by bigger objects guarantees that more light would enter the house.

Using basic grade-school science and laws of nature can effectively cut electricity bills by significant amounts. Simple acts such as decorating indoor walls by using light or preferably white colored paint or wallpaper ensures that light is reflected off the walls, making the whole space brighter. Moreover, when constructing a house, windows should be placed facing the east and west so as to allow daylight in the morning as well as evening. Placing skylights also contributes to enlightening the indoors.

Adding large mirrors to strategic places indoors is also a simple way to make dark spaces brighter and more illuminated. Differently shaped mirrors, or those with fancy edges, would make the room brighter while adding an aesthetic and personal touch around the house. Mirrors reflect light up to 100% if they are placed in a way that they face the direction of light sources, making the indoors light up while lessening electricity bills.

8. Smart Living

A tech-savvy way of saving on utility bills is by installing smart mechanisms around the house. Smart air conditioning systems switch to standby when the desired temperature is met, hence not only saving electricity by but also being environment friendly and eco-friendly. Moreover, maintaining the temperature of the indoors at a pleasant rate instead of being too warm or too cold is more conducive to healthy living. Furthermore, having smart thermostats means that the air conditioning systems can be controlled remotely and can be adjusted according to your day-to-day schedule. This ensures that less energy is spent by air conditioning systems, therefore reducing the electricity bills by up to 20%.

7. Sophisticated Sensing

Due to technological advancements, motion sensor switches are easily available to customers. These are light switches that automatically turn on when they sense someone in a room and accordingly turn off after a particular period of inactivity. The inactivity bracket can be set as per personal preference. Motion sensor switches reduce the amount of electricity wasted by lights being left on, purposely or accidentally. The switches are relatively inexpensive, as they cost from $20 to $150 depending on the level of sophistication that is required, and they are easy to install. By reducing energy consumption, motion sensor switches may reduce electricity bills by 35%, which may even go up as high as 75%. Such small steps can significantly reduce the wastage of electricity and, in doing so, decrease the carbon dioxide emissions emitted by the burning of fossil fuels in the environment. This change is relatively simple and does not require any substantial effort, yet has many benefits.

Another way that the same technological innovation that can cut utility bills is by using motion sensing faucets and showerheads. Installing motion sensor faucets would reduce the wastage of clean water by stopping its flow every time a person removes his/her hands from under a running faucet. The technology works the same way by stopping water from flowing through motion-sensing showerheads if a person is not present under the showerhead for any amount of time. It is undisruptive to showering as the flow resumes once the person returns under the shower. Installing motion sensor faucets can save as much as 30% to 50% on overall water use, consequently cutting the water bill massively.

6. Netflix & Chill, Cut Your Bill

One of the smartest ways to save money on utility bills is to simply give up cable TV. With news being available online on social media platforms, sports being live streamed directly on the TV, and entertainment being available in a multitude of less expensive ways, paying hundreds of dollars for channels that you do not watch is a complete waste of money. Instead, the smart option is to opt for services like Netflix, Inc. (NASDAQ: NFLX) and Amazon Prime that can be used directly via a smart TV, or even utilized via a TV box for non-smart TVs. Moreover, unlike cable TV, the users of streaming services can watch whatever they choose whenever they choose to do so.

Additionally, the same streaming services can be used on smartphones and tablets without any extra costs. Comparing the DIRECTV Premier Package by AT&T (NYSE: T) offered at $134.99 per month with the premium account of Netflix, Inc. (NASDAQ: NFLX) at a monthly price of $17.99 makes the decision simple enough. Even if cable TV is a permanent fixture in the house, switching to a cheaper provider like Sling, with a monthly bill of $25 is a smarter choice.

5. Chase Off-peak Hours

In the United States, electricity is more expensive during peak hours as compared to off-peak hours. Although the hours vary for each state, and even for each city in some cases, electricity is expensive during the day, and cheapest at around 5 AM when it is being used the least. Additionally, there is significant difference in electricity prices even between the busy afternoon when it is more expensive than the early morning. For people who want serious cuts on their electricity bill, juggling their chores around these times would be beneficial. Appliances that tend to use a lot of energy such as washing machines, dishwashers, and irons should be used primarily during off-peak hours so as to be billed the minimum amount by the supplier. Although the idea does not seem very practical, it is inarguably one of the smartest ways to cut electricity bills.

4. Go Solar

Using solar panels lets homeowners produce their own power instead of relying on the electricity being supplied by a utility company. The installation and usage of solar panels signifies that the sunlight would produce electricity for the house as well as charge the batteries attached to the panels. The charged batteries power the house during the time when the sun is not present, such as during the night or during cloudy days. Although installing sufficient solar panels to power the whole house means that homeowners could even cancel their account with the power supply company, it is a good idea for the company’s electricity to be available in case backup is required. As electricity derived from solar energy is completely free, using solar panels could help cut the electric bill by up to 90%. However, solar panels are expensive, and their installation requires professional help.

Yet, many states in the US even offer monetary incentives to residents that install solar panels in the form of clean energy grants and Solar Renewable Energy Credits (SRECs) which could even exceed $300. Thereby, installing solar panels not only reduces utility bills but also brings in financial gain. Moreover, federal tax credits are also applied for solar paneling; homeowners are entitled to a maximum of 30% of the solar panel installation cost from the federal government. After they are installed, solar panels rarely require any maintenance or repairs, making the initial cost a one-time investment. Most solar paneling companies, such as Brookfield Renewable (NYSE: BEP) offer warranties or service contracts to the homeowners according to which the company must fix any issues that arise without any additional cost.

3. Electricity Replaces Gas

In places where electricity is less expensive than natural gas, people can replace a number of gas appliances with electric ones. For instance, gas stoves can be taken out and electric stoves be put in. Moreover, water geysers that run on gas can be replaced with those that run on electricity. Even gas ovens can be replaced by electric ones. Although these replacements would be inconvenient due to the hassle that they entail, they would save money by cutting bills, and would gradually even save the amount of money spent on the replacements. In addition to reducing utility bills, using electric appliances instead of ones that use natural gas would also make them safer. There are less chances of fire hazards with electrical appliances as compared to natural gas appliances.

2. Add Insulation

According to many estimates, two-thirds to half of the electricity bill in a house is taken up by air conditioning systems. Maintaining a moderate temperature instead of making the indoors too warm or too cold is preferred in order to cut down on bills. However, you can even help the air conditioning and lower the electricity bill further by improving the insulation in the house.

Without insulation, the internal environment of the house becomes the same as that of the outdoors, which means that it would be as warm or chilly in the house as it would be outside. Air conditioning usually takes up a lot of power to lower or raise the indoor temperature to the desired temperature. As insulation reduces the effect of outdoor temperature on the indoor environment, the air conditioning would not have to work as hard and would hence reduce the electricity bill by a up to 30%. Insulation is thus beneficial in terms of keeping the house at a comfortable temperature and even possibly eliminating the need for air conditioning. It comes in many types such as Batts and Blankets. Loose Fill, and Spray Foam. Even the hot water tank in the house can be insulated by using an insulation blanket and fixing it with heavy-duty tape. A small step such as insulating the hot water tank can contribute to reducing utility bills considerably.

1. Better Billing

Keeping up with technological advancements, even the chosen method of billing can save on utility expenses. Most utility companies have hidden costs on the bills that are the printing and posting expenses for the bills that are mailed to you. Precious dollars can be saved if customers opt for internet billing. Moreover, opting for bills to be sent over the mail saves paper and is subsequently better for the environment.

Another smart way that the act of billing can cut your utility bills is by installing smart meters. Smart meters have a digital display unit inside the house that allows users to see exactly how much power, natural gas, or water has been used by them, and how much they owe the utility company. This can not only help with possible inaccurate or deceptive billing by the utility company but can also help you remain in budget by being updated of utility expenses regularly.

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