How To Save Money On Your Electrical Bills
Are you concerned about the ever-increasing electrical bills? Do you want to know how to save money on your electrical bills? Electricity prices have always been rising but the recent jump in wholesale prices has come as a shock to the end consumer.
Needless to say, everybody is looking for ways to cut down their electricity usage to be able to manage their household budget. The constantly rising inflation also hasn’t made things easy.
In today’s blog post, we will explore what you can do to save money on your electrical bills.
1). Shop around
One of the fastest and easiest ways to save decent money on your electricity bills is to simply shop around. Even if you do not want to change your current electricity retailer, having a better offer from another provider may help you negotiate better prices with your current provider.
For example, there are providers that offer variable electricity rates which means you pay a lower rate during off-peak hours. The off-peak hours usually go from 10 PM to 7 AM. If you have to run your washer or other appliances that consume a lot of electricity, you could do that during off-peak hours and save quite a bit of money.
2). Get solar panels
One of the ways to bring down your electricity bill significantly is to invest in a solar PV system. If you combine this with an appropriate battery, you might be able to get your electricity bills to an almost negligible amount.
With considerable rebates and feed-in tariffs, it shouldn’t take you long to get your money back. In most cases, it should take around 5 years to make your money back and solar panels are expected to last at least 25 years.
3). Replace inefficient appliances
Everybody finds those new features on their new washing machine, refrigerator or TV to be extremely enticing. While those features look great, you should also know that those features eat up extra power for which you will have to pay during the service life of that appliance.
If there are features you are genuinely not going to use, you will be paying for something that is of no use to you.
You should also consider energy rating labels on appliances and whenever possible, buy a product that is rated higher. Products with higher ratings cost more but you will save money in the long run.
4). Hot water usage
It is estimated that around 25% of the electricity cost in a regular Aussie household is due to hot water usage. Investing in a solar water heater can help you save a significant amount of money and since solar water heaters have a long service life, you will essentially be getting hot water for free after a few years.
Another option is to use an instant water heater instead of a hot water storage system as an instant water heater is much more energy efficient.
5). Manage your cooling and heating
There is no denying that heating and cooling account for the most energy expenditure in a home. You should learn to set your temperature between 18°C and 20°C during the winter months, and between 25°C and 27°C during the summer months.
You should also invest in proper insulation and make sure to only heat or cool the rooms that you are going to use instead of blasting the whole house hot or cold.
6). Check windows and doors
Not many people know that their windows could be leaking money, literally. It is estimated that almost 40% of the heat in a home could be lost due to unsuitable windows. If possible, invest in double-glazed windows. Also, buy heavy curtains to keep the sunlight out during the summer months.
Overall, electricity costs are rising at a quick pace and are expected to keep rising in the near future. If you’re concerned about higher electricity bills, you should seriously consider shopping around to find a retailer that suits your needs and is cheaper than your current provider.
Also, you should seriously consider replacing inefficient appliances in your home. The best way to save money on your electricity bills, in the long run, is to invest in high-quality solar panels. These panels last for more than 25 years and the payback period is around 5 years. Once you have made back your money, you will be enjoying free electricity for the next two decades and won’t have to worry about electricity bills.
Macedon Ranges Solar Power is the premier provider of solar panel installation, repair and maintenance services in the region. We have helped thousands of homeowners and businesses save thousands of dollars each year in electricity costs by installing high-quality and durable solar panels.
Please give us a call today on 1300 693 113 to learn more or make an enquiry.