The ongoing heat wave affecting much of the country is impacting 24.5 million Americans who are expected to face βdangerous levels of heat,β according to The New York Times. Heat waves are not only detrimental to health but can also strain finances. USA Today reported that the average summer electricity bill has surged by 51%, from $476 in 2014 to an estimated $719 in 2024.
Finding ways to stay comfortable without breaking the bank is essential. Here are some expert tips shared with GOBankingRates.
Use Smart Home Thermostats
Lucas Haldeman, founder and CEO of SmartRent, noted that soaring summer temperatures increase energy use as residents turn up their AC units to combat the heat. Smart home devices, like smart thermostats, help optimize energy usage and reduce utility spending.
Residents can program smart thermostats for ideal climates while at home and reduce AC use when away. Controlled through smartphone apps, these thermostats can be adjusted remotely. Haldeman added that apartment management companies can also use smart thermostats to control climate in common areas and amenity spaces based on weather changes and operating hours.
Cisco DeVries, energy expert and executive vice president of Renew Home, highlighted that smart thermostats, such as the Google Nest, monitor energy use and behavior to automatically adjust settings for maximum efficiency. These devices can save an average of 10%-12% on heating and 15% on cooling, allowing people to control their energy usage and bills.
Make Your Entire Home Smarter
Haldeman also suggested that a smart home networkβincluding smart outlets, lighting, and window shadesβcan further reduce utility spending during a heat wave. Smart shades insulate homes at common points of heat entry, reducing AC usage. Smart outlets limit energy drain from appliances and electrical devices when not in use. Smart lighting, when synced with smart shades, minimizes energy use by leveraging natural light.
Maintain and Change Your HVAC Filters Regularly
Max Veggeberg, CEO and founder of Tetra, emphasized the importance of maintaining and changing HVAC filters regularly to save money and energy during a heat wave. Homeowners should swap out HVAC filters every three months to ensure efficient operation. Additionally, a heat wave is an opportune time to get your AC tuned up for better efficiency. Veggeberg also recommended switching to heat pumps for the most efficient and cost-saving way to cool your home.
Save on Energy Used to Heat Water
Consumer finance expert Kyle Enright, president of Achieve Lending, suggested taking cooler showers and turning down the water heater temperature to save energy. Lowering the temperature by just five degrees or one notch on the heaterβs scale can make a difference. Adding an insulating jacket to the hot water heater and insulating the first few feet of pipe can help maintain water temperatures and reduce heating time.
Beware of Light Usage
Running the AC regularly during a heat wave increases electric bills. Save on your bill by turning off lights when not in use, upgrading to LEDs from traditional bulbs, and running appliances less frequently. Veggeberg pointed out that LEDs give off less heat, use up to 90% less energy, and last up to 25 times longer than incandescent bulbs, leading to significant savings.
Be Mindful of βTime-of-Useβ Pricing and βPeak Hoursβ
Time-of-use pricing incentivizes customers to use electricity during less demanding times of the day. During peak hours, when electricity demand is highest, rates are more expensive. Haldeman recommended avoiding the use of heat-generating appliancesβsuch as stoves, ovens, washer/dryers, and dishwashersβduring peak times. Instead, use these appliances when the weather cools down to save energy and money.
Shawn McLaughlin, CEO of Emporia Energy, emphasized the importance of understanding your utility rate plan, as many utilities charge different rates at different times. Peak-hour rates can be three to four times higher than off-peak rates, so be mindful of when you charge your electric vehicle or run appliances.
Energy Star also advised pre-cooling your home during off-peak hours before temperatures rise. Generally, off-peak hours are after 9 pm and before 9 am. Check with your local utility for specific peak hours.
By implementing these tips, you can stay cool during the heat wave while keeping your energy bills under control.
Matt Pinner is a dedicated journalist for WVPrepBB.com, specializing in USA and crime news. With a keen eye for detail and a passion for uncovering the truth, Matt brings timely and insightful reporting to his readers. His work on WVPrepBB.com keeps the community informed and engaged with the latest developments in national news and criminal justice.
