The 3 Easiest Ways to Lower Your Electricity Bill

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Reduce your energy consumption in three simple steps. 

Who wouldn’t love to save a few bucks on their monthly electricity bill? Even if you’re trying to be energy efficient, it’s likely that you are still paying too much. The good news is there are some easy and cost-effective upgrades that you can make in order to lower your electricity bill. Here are three simple tips you can use today while staying on budget.

1. LED light bulbs

LED light bulbs are an easy upgrade for anyone looking for ways to save money on their electricity bills. LED light bulbs use significantly less power than traditional incandescent bulbs — 75% less — resulting in lower energy costs over time. In addition, they last 25 times longer than traditional bulbs, meaning they will need fewer replacements over time. This reduces long-term expenses related to lighting costs. A traditional 75 watt incandescent light bulb will cost around $3.00 per bulb, while the equivalent 11 watt LED bulb comes in at about the same price.

The average home has 40 light bulbs. Let’s say you have them on for five hours a day at $0.13 per kilowatt hour. If you switch from the standard incandescent of 75 watts to the equivalent 11 watt LED bulb, you would save close to $600 a year! Over 10 years, that is close to $6,000 more in your bank account. In addition to helping you save money, LED light bulbs produce brighter and more natural light and are much better for the environment. With LED light bulbs costing almost the same as an incandescent bulb, it’s an easy call to swap out your bulbs today.

2. Smart plugs and outlets

Smart plugs and outlets are the perfect solution for those who want to control their energy consumption without having to manually turn off appliances. Smart plugs allow you to set up automated schedules so that your appliances will turn off when they don’t need to be running. This means that even if you forget to turn something off, it will automatically shut down after a certain period of time. It also allows you to monitor your electricity usage with real-time data so you can see exactly how much energy each appliance is using at any given time.

In addition, a smart plug can help you better understand your energy consumption habits. When you connect to apps like Amazon Alexa and Google Home, you can get insights on how you can save even more energy and money. Currently, you can purchase a smart plug for as low as $9. With your potential savings, the plug will pay for itself in about two months.

3. Smart thermostats

Smart thermostats are a great way to optimize your home’s heating and cooling systems while lowering your electricity bill. A smart thermostat uses motion sensors, temperature sensors, and other technology to adjust the temperature in different rooms according to what is needed throughout the day. It automatically adjusts the temperature in your house based on your preferences as well as the weather.

This helps conserve energy by only using as much as necessary at any given time and reducing the amount of wasted energy from overuse or underuse of heating or cooling systems. You can purchase a smart thermostat for as low as $78. Based on the potential savings, the thermostat would pay for itself in about six months.

By making just a few simple upgrades around the house like installing smart plugs and outlets, investing in a smart thermostat, and switching out old light bulbs for LEDs, you can reduce your electricity bill costs every month. Not only will these upgrades help you save money now, but they also have long-term benefits like reduced maintenance costs and improved environmental sustainability. By making these changes, you can start saving money today.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Alphabet and Amazon.com. The Motley Fool has a disclosure policy.

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