How to Save Hundreds on Your Energy Bill This Winter

The holiday season is quickly approaching! You're probably thinking of Thanksgiving and turkeys, eggnog and gifts. But with the holidays come winter and you should prepare your home accordingly so your furnace and electric meter isn't burning up your hard earned cash!

According to EIA, the U.S. Energy and Information Administration, "EIA forecasts that average household expenditures for all major home heating fuels will rise this winter because of expected colder weather and higher energy costs. Average increases vary by fuel, with natural gas expenditures forecast to rise by 12%, home heating oil by 17%, electricity by 8%, and propane by 18%." 

So what can we do to reduce costs, and keep more money in our pockets? 

Start with your home's exterior. Check for any leaks and seal them with weatherstripping, caulking or foam insulation. Common places are windows, doors, pipes, and cables. If your window leaks, the most cost-effective solution is to seal the window with a layer of plastic, according to Duke Energy. Be sure to check around your air conditioning and heat pump units for weeds and debris. Clearing them will allow for better circulation, which can lower your bill.

Properly insulating your home is the most effective way to keep energy costs down. Insulation should be in exterior walls, ceilings, and floors above cold spaces. If you have an attic, make sure the insulation on the floor isn't compressed. Also, understanding R-values are important when choosing the right insulation for your home. R-values are the standardized measure to rate the relative effectiveness of insulation materials. Different materials will have varying R-values per inch.

When heating your home, try to keep the thermostat no higher than 68°F. The Edison Electric Institute says that each degree above 68°F can add three percent to the amount of energy needed for heating. 

More ways to save this winter is by getting rid of the energy vampires. Energy vampires are any devices that continue to drain power once turned off. Common examples are:

• Devices with large plugs
• Cords with large black boxes
• Cable/satellite boxes
• Digital TV converters
• DVR, VCR, DVD players
• Mobile/cellular devices
• MP3 players
• Video game consoles
• Standby coffee makers
• Devices that turn on instantly via remote control
• Devices with a standby light or clock

When you're not using these devices, unplug them. Using a surge protector can help as well. If your device has a sleep mode, use it. According to Duke Energy, the average U.S household spends $100 a year on plugged-in electronics they aren't using. 

If winterizing your home is a new task you are taking on, no worries! For more information on saving energy so you can stay warm and under budget this winter, please consult with your local energy provider as many will offer free tips and videos on performing these simple money saving tasks.