You don’t need to own a home to benefit from saving money on your utility bills. However, if you start implementing these energy saving tips, you’ll soon save enough to contribute to a down payment
, closing costs
, or early mortgage payoff
1. Cut the Lights
One of the quickest and easiest ways to go green and save money is to turn off unnecessary household lights. If you live in a multiple person household, consider installing an occupancy sensor which works by detecting the presence of a person by motion to automatically switch the lights off. The devices are inexpensive and easy to install, and can cut your wasted electricity for lighting by 30%*.
2. Adjust Your HVAC Thermostat
In most homes, your HVAC system is likely to consume the most energy of all of your appliances, accounting for 48% of the average home’s energy use.
Save up to 10% on heating and cooling costs* for your home by adjusting your thermostat so that it’s down 7°–10°F for 8 hours a day in the fall and winter and up in the spring and summer. In summer, aim to set the thermostat for 85 degrees while you’re away and 78 when you’re at home. In the winter, aim for around 68 degrees when you’re home and 58 or less while you’re out or sleeping.
You can save an additional $15 to $25 per month* by turn the fan setting to Auto, which will stop the fan from working when the unit isn’t heating or cooling.
3. Reduce Power Consumption
You can further reduce your energy consumption and energy bill by turning off your idle appliances, computers, TVs, table and floor lamps.
Electronics and appliances continue to use power even when you’re not using them, adding 10% to your monthly electrical bill*. For example, mobile phone chargers that are left plugged in after your phone is disconnected consume 0.26 watts of energy -- and 2.24 watts when your phone is fully charged and still connected.
See the standby power for a variety of common household appliances and electronics >
A simple way to power off your appliances and electronics is to use power strips that have an on/off buttons.
4. Lower Water Heater Temperature
It is common to set water heater thermostats at 140ºF. However, most households only need the thermostat to be set at 120ºF, which will also slow mineral buildup and corrosion in your water heater and pipes, and reduce the risk of scalding.
Reducing the temperature of your water heater thermostat to 120ºF can help you to save $36 to $61 annually in standby heat loss, which is the heat lost from water heater into the surrounding basement area, and more than $400 from water demand or use in your home*.
If you plan to be away from home for at least three days, turn the thermostat down to the lowest setting or completely turn off the water heater. To turn off an electric water heater, switch off the circuit breaker to it. For a gas water heater, make sure you know how to safely relight the pilot light before turning it off.
5. Do Laundry More Efficiently
Being smart about how you wash your clothes will not only help them last longer, which saves money, but it will also reduce your energy consumption.
You’ll use less cold water in a high-efficiency washing machine and need less detergent if you use high efficiency (HE) laundry detergent for all loads. The next time you purchase a new washer look for HE front and top loading ENERGY STAR models, which use 35% less water and 20% less energy than standard washers**.
Air dry your clothes to save power from using the dryer and to help your clothes maintain their shape and avoid shrinkage. The sun provides a sanitizing effect too, which is great for sheets and towels. If you don’t or can’t have a clothesline in your backyard or live in an apartment, a folding drying rack works, too.
If it’s raining or you must use the dryer, toss a clean, dry towel in the dryer with your clothes to absorb moisture and speed the drying process. An ENERGY STAR certified dryer will use about 20% less energy than conventional models.
Do you want to know which home loan option is right for you? Contact a Certainty Home Loans mortgage professional
in your state today!
* U.S. Department of Energy
Apr 19, 2018