4 energy tips for renters
Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about oureditorial standards
and how we make money.
One of the most impactful ways renters can reduce their monthly expenses is to conserve energy and cut down on energy consumption. By reducing monthly energy consumption, renters can save substantially on monthly energy bills.Renters can reduce energy consumption and choose cheaper energy plans to save money each month, while helping out our environment.
As a rough rule of thumb, each degree means 2-5% more on your energy bill. During the summer, keeping the thermostat at 75 can save substantially more than say, turning it down to 65. Likewise, in the winter, sweaters mean savings. By keeping the home at 67 can save substantially over time.Smart thermostats, which cost ~$75, can help regulate a moderate temperature, keeping you comfortable while reducing energy consumption. Typically, smart thermostats pay for themselves over time in energy savings.
Leaks by doors, windows, and fireplaces can let the warm or cool air out, causing your a/c or furnace to work harder, using more energy, and costing you more money. To combat this, check for drafts. Door sweeps, shrink ramp, and foam fillers can help fill these leaks, and reduce energy loss by 5-10%.
Appliances which aren’t being used, but still consuming electricity are called often called energy vampires. These appliances can waste up to 10% of your home’s energy, and are quietly driving up your electricity bill. Some major culprits: DVR, cable Boxes, and the stereo.
Energy audits are like a doctor’s checkup for your home’s energy consumption. Most states offer discounts, and sometimes free, home audits to help save energy. Up to 20% of a home’s energy is wasted, which costs homeowners somewhere around $400 per year. Home energy audits can help find leaks, spot energy vampires, and offer a customized plan for reducing energy consumption.
Finally, the fastest, and easiest way to cut down energy expenses is by choosing a cheaper electricity plan through an ESCO. Companies like ChooseEnergy.com can help homes save up to 25% on energy expenses, in under 10 minutes. By comparing, shopping and selecting, you can be savings significantly, each month. This could mean big savings, with little hassle.Kevin Lillie serves as a content strategist with Choose Energy, the premier online energy marketplace. In this role, he researches and develops industry insights to educate and empower commercial and residential energy consumers.Photo credit: David Dodge, Green Energy Futures
Get essential money news & money moves with the Easy Money newsletter.
Free in your inbox each Friday.