How to save on your electric bill

At a Glance:

• Understanding your electric bill: Compare your rate to local averages to ensure you're not overpaying.
• Checking and maintaining your HVAC system: It's likely your biggest energy consumer and regular maintenance can lower electric bills.
• Considering a professional energy audit: This can help with understanding your electric bill by assessing your home’s energy use and identifying ways to save energy like through insulation or a new system like a heat pump.

Steps you can take for lower electric bills 

If you’ve noticed a sudden spike in your electric bill, it's important to understand why. Rising energy prices can be a factor, but sometimes you’re using more power than usual or there are issues with your home that could cause energy inefficiencies. Here are some steps you can take to identify problems and potentially end up with lower electric bills:

1. Research the cost of electricity in your area

Start by checking the average price per kilowatt-hour (kWh) in your area. Understanding your electric bill starts by learning if you're paying a fair rate compared to other homes in your area. If your rate is significantly higher, you can try negotiating with your provider on a better rate, which can ultimately help you figure out  how to save on your electric bill.

2. Review fees and taxes on your electric bills

Next, look closely at the fees and taxes on your bill. Utility companies may increase fees or taxes, impacting your total cost. Compare your bill with a neighbor's or contact your utility provider if something seems off. Gaining all the information possible is a great way of understanding your electric bill and finding ways to save. 

3. Compare your past electric bills from the last 12 to 18 months

Analyzing your electricity usage over the past year or more can help you find trends. For example, it’s very common for your energy bill to be much higher during extremely hot or cold times of the year. If you notice a significant, unexplained jump, it could be a sign of an aging HVAC system or appliance. Understanding the reasons behind higher energy bills can help you strategize on how to save on your electric bill.

4. Try a wattage tester

If you suspect a specific appliance is consuming too much power, use a wattage tester. This device measures the actual energy use of your appliances, helping you identify any "energy vampires" that might be contributing to higher costs. Knowing how to save on your electric bill often starts with replacing appliances that are using more power than they’re supposed to.

5. Maintain your HVAC system

Your (HVAC) system like your air conditioner, boiler, or furnace is one of the largest energy consumers in your home and is key in understanding your electric bill. In fact, heating and cooling usually accounts for 70% of your monthly power bill. The more maintenance you have done on your HVAC, the more efficiently it will continue working for you. An outdated or poorly maintained system can cause your energy usage to skyrocket.

6. Energy audits can lead to lower electric bills

Finally, consider getting a professional energy audit. An energy audit assesses your home’s energy use, identifying areas where you can make improvements. This can include insulation, air sealing, or upgrading to more efficient systems like heat pumps. A professional audit can provide valuable insights on understanding your electric bill and finding effective ways to reduce energy consumption. 

7. Consider upgrading to a heat pump with Tetra

Beyond all the strategies we’ve shared in this article, the most effective way to lower electric bills is with an energy-efficient HVAC. Heating and cooling can represent 70%+ of your energy bills. Heat pumps are 2-5x more more energy-efficient than more traditional systems because they simply extract heat from the air and move it in or out of your home, instead of using more power to generate their own warm or cool air. 

Schedule your free, virtual consultation with Tetra today. One of our experts can help you identify the best system for your home, find up to $16k in rebate savings for you, and manage the install process from start to finish.