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Financial Planning, Energy

Five Ways to Save on Energy Costs This Summer

6/4/21 8:00 AM

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It's so hot outside! How are you coping with the heat? We’ve compiled five easy ways to help you save money on energy costs while still staying cool this summer.

Up Your Thermostat

The first tip to save on energy costs this summer is to up your thermostat. Invest in a programmable thermostat to help regulate and control the temperature in your home. You can even choose a smart or Wi-Fi-enabled version, like the Nest digital thermostat. This option takes less effort and monitors the energy usage data from your smartphone.

Program the system to work with your lifestyle. For example, when you are at work, the temperature should be higher. Lower it slightly in the evening so it’s cooled off when you return home. For each degree the thermostat is raised, you can save 4% to 8% in cooling costs! That can make a big difference during the hot summer months!

Switch to Energy Saving Appliances

The ENERGY STAR is a prestigious award given by the U.S. Environmental Protection Agency to qualify products that meet strict government guidelines for reducing greenhouse emissions. An ENERGY STAR certified room air conditioner uses about 15% less energy than models without this designation. On average, home appliances – including clothes washers, dryers, dishwashers, and refrigerators – account for 12% of your home's total electric bill.

Switch on Your Fans

Fans can be an inexpensive way to stay cool on hot, humid days. Set up a fan in front of you and have it blow directly at you. For best results, keep your window open while using fans – this will allow air to flow through your house. Adding or utilizing a ceiling fan is also an inexpensive way to cool down from the summer heat.

A ceiling fan will lower the temperature in your home by roughly four degrees, which will allow you to reduce your thermostat setting accordingly. For additional cost savings, consider investing in energy-efficient fans that use less electricity than conventional models.

Switch off Your Devices

To save on electricity costs this summertime season, first, make sure all lights have been switched off before leaving the room. You'll also want to make sure you are unplugging unnecessary electronics from their outlets when not in use. From toasters to desktop chargers, anything plugged in is using electricity. Many people forget that electronics continue to draw power even when they are not being used.

Another tip for reducing energy usage while ensuring that necessary devices are fully powered is to plug them into one outlet strip. This reduces wasted energy circulating through multiple outlets. If you are uncertain about the best way to power your appliances, hire an electrician to do the installation. It will cost extra money upfront, but you'll see savings over time.

Make Sure Your Home Is Insulated

Invest in thermal drapes or blackout curtains that block the sun from coming into your home during the summer months. When pulled closed over a window with a lot of sun exposure, they can reduce heat gain by up to 40%. The small investment of insulating your home with curtains or blinds can have a significant return on your electricity bill since roughly 30% of homes' energy is lost through windows.

And while we're talking about insulation... make sure you check around doors and windows to ensure they are correctly sealed with weather stripping before heading outdoors. It can be challenging to keep your home cool during the summer months, which is why you need to take a few proactive measures. Installing weather stripping and checking insulation are two ways you can save on energy costs. Simple caulking and weather-stripping are two effective air-sealing techniques that can return immediate benefits after investment.

How do you plan to save money this summer?

You can make practical changes to your home to stay comfortable, reduce your energy usage, and save money on your energy bill this summer. During the summer heat, staying cool can be challenging. Why not try out these five tips to help you stay comfortable without breaking the bank?

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