How To Save Money on Your Electricity Bills and More During a Heat Wave

The heat wave engulfing most of the country is taking a toll on the 24.5 million Americans who are expected to face “dangerous levels of heat,” per to The New York Times . Heat waves are not only detrimental to your health but can take a huge toll on wallets as well. Indeed, as USA Today reported, “the average cost of electricity bills in the summer has increased by 51% from $476 in 2014 to an estimated $719 in 2024 .”

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In turn, finding ways to be both comfortable and not break the bank is crucial. Here are some tips experts shared with GOBankingRates.

Use Smart Home Thermostats

As Lucas Haldeman, founder and CEO of SmartRent , explained, soaring summer temperatures inevitably increase energy use as residents turn up their AC units to compensate for the heat.

“But smart home devices like smart thermostats help to limit the impact on utility spending by optimizing energy usage,” he said.

According to him, residents can program smart thermostats for ideal climates while they’re home and reduce AC use while they’re away from home. As they are controlled through smart phone apps, residents can also adjust their smart thermostats remotely if they forget to set or pre-program their devices.

“The ability to continually monitor and dial in home climate controls creates significant energy savings opportunities,” added Haldeman. “At apartment communities, management companies can leverage similar smart thermostat benefits by customizing climate controls for common areas and amenity spaces — based on both weather changes and hours of operation.”

Cisco DeVries, energy expert, former aide to the U.S. Secretary of Energy during the Clinton Administration and executive vice president of Renew Home , also noted that these smart thermostats — such as the Google Nest — monitor your energy use and behavior and will automatically adjust its settings to make your home as energy efficient as possible.

“Smart thermostats can save you an average of 10%-12% on heating and 15% on cooling,” he said. “Enabling homes to be smarter will allow people to control their energy usage-and their bills.”

Make Your Entire Home Smarter

Haldeman also noted that a smart home network — including smart outlets, lighting and window shades — can further mitigate utility spending during a heat wave.

For instance, he said that smart shades help to insulate homes at the most common point of exposure, limiting costly heat entry and overuse of AC systems.

In addition, smart outlets limit energy drain through appliances and other electrical devices when they aren’t actively in use. Meanwhile, smart lighting, when synced with smart shades, creates a symbiotic relationship that minimizes energy use and leverages natural light, added Haldeman.

Maintain and Change your HVAC Filters Regularly

Maintaining and changing your HVAC filters regularly is crucial to saving money and energy, especially during a heat wave, according to Max Veggeberg, CEO and founder of Tetra .

“A general rule of thumb is that homeowners should swap out their HVAC filters every three months to ensure they are running efficiently and not using an excess of energy to cool their homes,” he said, adding that a heat wave is also an opportune time to get your AC tuned up so that it runs more efficiently.

“All that said, making the switch to heat pumps is the most efficient and cost-saving way to cool your home,” added Veggeberg.

Save on Energy Used To Heat Water

Consumer finance expert Kyle Enright, president of Achieve Lending recommended taking cooler showers, which help you to stay cool, as well as turning the temperature down a bit.

“Try just five degrees, or if your hot water heater has just a scale, turn it down a notch,” he said. “In addition, if your hot water heater is situated in a cool area, consider adding an insulating jacket to help maintain water temperatures and reduce heating time. Insulate the first few feet of pipe that transport hot water from the water heater.”

Beware of Light Usage

Running your AC regularly, as one might during a heat wave, increases electric bills. In turn, try saving money on your electric bill by turning out the lights when you’re not in the room, upgrading to LEDs from traditional light bulbs and running appliances less frequently, said Tetra’s Veggeberg.

He added that this will not only help to cool your home because they give off less heat, but it can help homeowners use up to 90% less energy while lasting up to 25 times longer than traditional incandescent bulbs, leading to noticeable savings.

Be Mindful of “Time-of-Use” Pricing and “Peak Hours”

Time of use pricing is “an electric plan pricing structure incentivizing customers to use electricity at less demanding times of the day,” as Save On Energy explains.

In turn, during “peak hours” — the time when electricity is in most demand — rates are more expensive.

“Avoiding using heat-generating electrical appliances — stoves, ovens, washer/dryers, dishwashers etc. — during the day and peak times can save homeowners a great deal of money during the hottest months of the year,” said Haldeman.

Instead, he recommended running these appliances when the weather cools down, as it cuts down on the energy you use in the home while saving money, especially while the majority of other homeowners may blast their AC/fans during prime hours of the day.

That’s why Shawn McLaughlin, CEO of Emporia Energy , said it’s crucial to pay attention to how your utility rate plan works, as many utilities charge different rates at different times of the day.

“Peak-hours rates are often three to four times that of off-peak rates,” he said, adding it’s crucial to be mindful of things such as charging your electric vehicle.

Another tip is to “pre-cool your home during off-peak hours before temperatures rise,” according to Energy Star. “Your local utility is the best source of information on when peak conditions exist, but as a rule-of-thumb, after 9 pm and before 9 am is off-peak in most situations.”

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This article originally appeared on GOBankingRates.com : How To Save Money on Your Electricity Bills and More During a Heat Wave