Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all available deposit, investment, loan or credit products.

Energy bills are one of those monthly expenses that just can’t be escaped. Knowing how to save energy and taking steps to conserve more and waste less will leave extra room in the monthly budget for other things.

Here are some energy conservation and efficiency tips that can result in considerable savings. Some of these energy savers are not practical for renters, but many will help homeowners and apartment dwellers alike.

Use the following 10 tips to save on energy and reduce electricity bills: 

Bonus Offer: Open a new Citi Priority Account by 1/9/23 and earn up to a $2,000 cash bonus after completing required activities.

Here are a few ways to implement these tips that will help you see significant savings.

The less efficiently an appliance runs, the more energy it is likely to use. This is especially true of home heating and cooling systems. Having an HVAC system inspected and tuned annually, as well as regularly changing filters, can go a long way in keeping it operating efficiently.

Refrigerators and dryers are two more appliances that can cost more to run if they aren’t well maintained. Keep your dryer lint trap clear and have the vent hose cleaned out annually. Refrigerator coils should be cleaned regularly, too, and door gaskets replaced as necessary. Bonus tip: A full fridge and freezer will use less energy to stay cool than minimally-stocked appliances.

According to the U.S. Department of Energy, a homeowner can save 10% annually on heating and cooling a home simply by adjusting the thermostat seven to 10 degrees Fahrenheit from its typical setting for eight hours a day. The smaller the difference between the indoor and outdoor temperatures, the less energy will be used.

Savings Offer: Lower your bills in minutes! BillCutterz negotiates lower bills with your service providers. Send us your bills today!

Having a programmable thermostat can make controlling a home’s temperature easier. A thermostat programmed for the optimal settings for different times of the day can help ensure a home’s temperature stays comfortable and energy bills remain reasonable.

LEDs use up to 90% less energy than incandescent bulbs and can last up to 25 times longer, according to the U.S. Department of Energy. Replacing incandescent bulbs with LEDs can save the average homeowner up to $225 per year. 

To save even more, use those LED bulbs less. Rely on natural light as much as possible during the day and turn lights off any time they aren’t needed.

Energy used by products switched off or in standby mode is known as phantom power or standby power. It accounts for 5% to 10% of residential energy use. These phantom electronics include game systems, TVs, phone chargers and coffee makers. Putting some of these devices on power strips that can easily be turned on and off can save considerable energy.

Side Gig Offer: Use your downtime to answer questions, get points, and earn some extra "me money". Get rewarded for having an opinion. Start now.

Heating water is the third biggest use of energy in most homes. The optimum temperature for hot water heaters is 120 degrees Fahrenheit, both in terms of function and energy efficiency. Those in colder climates might consider using a water heater blanket to ensure the tank is well-insulated.

Reducing appliance usage is one of the easier ways to save energy. Only wash full loads of clothes and dishes. Dry clothes on a cycle that uses the automatic sensor to detect when to shut off and turn off ceiling fans and lights when leaving any room.

Insulation prevents hot outdoor air from flowing into a cooled home and warm air from flowing out when it is cold outside. So a properly insulated home will stay cooler in the summer and warmer in the winter. Ensuring adequate insulation might be a task better left to a professional who can assess a home’s insulation needs and install additional layers where necessary to make the home more energy efficient.

Air sealing involves reducing the amount of cool and hot air leaking from a dwelling, causing the HVAC system to work harder to maintain the thermostat temperature. Use caulking and weather-stripping to seal cracks and openings, especially those around door and window frames.

Upgrading old appliances to new energy-efficient models can cost quite a bit initially. Still, for people who expect to remain in their home for years, this upgrade can lead to significant savings over time. Even the expense of a new HVAC system can pay for itself depending on how much energy the old unit is wasting.

Window replacement is another energy-saving investment with a high initial cost. However, as with upgrading appliances, it can make financial sense for homeowners who plan on staying in the home long-term. Those who can’t replace windows may be able to better insulate them with blackout curtains or a window insulation kit.

Learning how to save energy is helpful for those who wish to implement energy conservation and efficiency measures. Almost any homeowner or apartment dweller can reduce energy usage and lower electric bills by following these simple tips. 

Start small. Pick up a few power strips and determine the optimal energy-saving thermostat settings for your home. Then move on to the more expensive tasks that will lead to more significant savings. Renters may even be able to convince their landlords to make some of these improvements.

Information is accurate as of Aug. 1, 2022.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

Every day, get fresh ideas on how to save and make money and achieve your financial goals.

Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all available deposit, investment, loan or credit products.

Sign up for our daily newsletter for the latest financial news and trending topics.

For our full Privacy Policy, click here.