Continuing the Lower My Bills series it’s time to discuss your power bill. Electricity and gas are a big part of monthly expenses, and if you aren’t careful the costs can creep up pretty quickly. You also can’t flip a channel or read a newspaper (if you can find one) today without hearing something about being green. I’m what you would call passively green, meaning that if it’s easy to do as far as saving the environment I’ll do it. Don’t expect me to turn off my large screen TV or read by candlelight. However, being green and saving money go hand in hand. Anything you do to help reduce your energy consumption helps. There are several ways to reduce electic bills and cut down your monthly expenses. How much you will save depends on several factors – house size, house structure, power usage, appliances, etc. Depending on your commitment level, you will see savings almost immediately. You won’t be able to afford that BMW tomorrow, but you will have cash to put towards other bills or *gasp* savings!

Free Electric Bill Reductions: Simple steps you can do for free to reduce your electric bill

• Turn it off. This is the absolutely best power saver out there. There is absolutely no need to have your lights on all over the house. When you leave the room, turn the lights and other electrical items (TV, radio, curling irons) off. If you have a computer, shut it down instead of standby or hibernate. If you have a gas furnace or fireplace, blow out the pilot light during the spring and summer months.
• Unplug it. Lots of appliances and electric equipment still use “vampire power” which means they are sucking wattage even when not in use. Devices with power adapters are notorious for this. Toasters and coffee makers too. Don’t forget to do this when you go on vacation. If you don’t feel like having to plug and unplug, you can simply flip your breakers at your electric panel.
• Cold Power. Wash your clothes in cold water. I have always washed clothing in cold water, and I can honestly say I don’t know why you need to do otherwise. Your hot water heater costs a lot of money so save some of that energy cost and wash in cold water.
• Set the Mood. Your thermostat is a hot spot for high energy bills. adjust your temperature a few degrees higher in the summer and lower in the winter. This will lower your bill as far as heating and cooling costs. If you leave during the day, adjust accordingly. I wouldn’t turn it completely off as it will take much longer to reach your desired temperature. Not using a room? Close and cover their vents. This will force the air to the rooms you want.  Also, don’t block vents! Pull furniture and drapes away from vents to increase the efficiency of your heating/ac units.
• Window Dressing. Covering your windows will keep heat from entering and exiting your home. Your AC will run much longer if it has to battle the Sun. Also don’t forget to close your windows – I can still hear my Mom saying something about “cooling the world” when I left a window open.

Cheap Electric Bill Reductions: This are low cost ways to decrease your energy bill.

• Light Bulb Exchange. Sorry Thomas Edison, but incandescent light bulbs are so last millenium. Switch out your old bulbs, which lose most of their power to heat, to the new CFL bulbs. The price of CFL bulbs has dropped significantly and you can always find coupons and sales for them. CFLs use about 75% less energy and can last up to 10 times longer. One word of advice – I noticed that CFLs aren’t as bright to their equivalent, so you might want to buy a higher wattage. For example, switching out a 60W incandescent bulb for the 75W CFL equivalent. They have CFLs for everything, including flood lights, dimmers, 3-way, and even candelabra shaped for your chandalier.
• Jacket Required. Your hot water heater needs a jacket. This will reduce the amount of heat lost trying to keep your waiting water warm. Take the measurements and hit up your home improvement store. Not really an energy saver, but you should also consider buying insulation for your water pipes. Having a pipe bust is no picnic and can put a serious hamper on your emergency fund.
• Reaching for the Star. If you are in the market for new appliances or electrical equipment, make sure they are registered by Energy Star. These appliances are energy efficient and can have tremendous electrical savings associated with them. Heat pumps, tankless water heaters, washers, dryers, and so many more products are produced with energy efficiency. You can explore more of these products here.
• Replace your Filters. No catchy title here, just simply replace your AC and and furnace filters. If your vents have filters, replace them too.  You should do this at least every 3-6 months.
• Fan-tasize Your Home. Installing ceiling fans will help improve air flow. Stand alone fans work just as well. Use these instead of cranking the AC to cool off.
• Slow your Flow. Replace your showerheads and faucet aerators with low flow units to reduce hot water usage. This will also help keep your water bill lower.
• Strip. Replace weather stripping around your doors and windows. This will help with insulation and keep your heating/ac inside, not out. You can also insulate power outlets to reduce air escaping.

Higher Cost Electric Bill Reduction – Most of these are going to be higher ticket items that can impact your electric bill over a longer period of time.

• Replace Insulation. If you are in an older house, more than likely you have little or no insulation in your attic or crawlspace. Adding insulation will keep the heat in during the winter and the cold in the summer.
• HVAC Cleaning. Get your ventilation system cleaned at least once a year by a professional.
• Upgrade Windows and Doors. Replace old windows with multiple pane ones. Newer windows are more energy efficient. Some even are gas filled which provide even more efficiency. New exterior doors offer better insulating core material to help keep energy costs down.
• Get Rid of the Tank. Tankless water heaters are a great way to save on energy costs. Instead of having a big tank of water heating 24/7 just waiting for you, tankless provides you hot on demand. These units can cost around $1k or a little more to purchase and install. With yearly savings around $100, tankless heaters will pay for themselves in 4-5 years.
• Make it Yourself. Install solar panels or wind turbines and reduce or remove your dependency on public energy. If you live in an area with lots of sun or wind, you could even find yourself making money. Any energy that you produce and don’t use can be sold to your local energy company for consumption. No worries about losing power in a store if you are self sufficient!

So, you can see there are several ways to save money on your electricity bill. Whether you want to just change a behavior (turn off lights), spend a few bucks (CFL bulbs) or do an energy savings makeover (Insulation replacement) you have many options available to make an impact.