Within the last decade, residential energy costs have increased by as much as 34 percent. According to forecasts from national economists, the prices will continue to increase.
If you are trying to manage your monthly expenditures, this information can be unnerving. You might be wondering what you can do to keep rising electricity costs at bay.
The good news is there are plenty of actions that you can take to save money on your energy bill. One way you can save is by purchasing innovative technology. Here is how taking this action can affect your home budget’s bottom line.
Innovative Technology is Energy Efficient
If you live in an older home, you might have an inefficient HVAC unit and appliances. Your current appliances may be operable, but they might waste unnecessary energy.
Innovative technology such as Energy Star appliances can help you save up to 30 percent on your energy bill. This technology decreases your costs because they do not require as much energy to operate.
Manage Your Electronics Remotely
Running your air conditioning system all day will guarantee that you will have a high electricity bill. This is especially true if you spend most of the day away from your home.
Many devices are equipped with features that enable you to turn off appliances remotely. If you forget to change the dial on your thermostat, there are apps that make it easy for you to change the thermostat using your phone.
Innovative Technology is Intuitive
Technology has become smarter and more intuitive in the last 5 years. In fact, technology can be programmed to determine your habits. For instance, there are thermostats that automatically adjust to your lifestyle.
There are washing machines on the market that are able to determine low electricity usage times. These innovative devices will automatically turn on your washing machine during those times and save money in the process.
Program Innovative Technology According to Your Schedule
Summer and holiday seasons are the times in which many people take long vacations. If you are like most people who leave for vacation, you prefer to leave a few lights on in your home to deter home invaders.
Leaving lights on for an extended period time can elevate your energy bill. Fortunately, you can purchase technology that enables you to program the timing of your lights.
If you leave your home without programming the lights, there is no need for you to worry. This technology usually comes with an app that can be used on a tablet, smartphone or personal computer.
Innovative technology continues to push boundaries of what is possible. Consider the following facts.
- Refrigerators consume 60 percent less energy now than they consumed 20 years ago.
- Innovative dishwashers only use 0.83 kWh of electricity per use.
- HVAC units can conserve up to 55 percent of electricity.
- Innovative washers and dryers can decrease your energy consumption by 33 percent each year.
When you purchase innovative technology, the upfront costs may be significantly higher. However, investing in innovative technology can save you hundreds of dollars on your energy bills each year. This information is especially good financial advice for young adults who are learning to manage their money carefully.