How To Save And Budget Amid Rising Energy Prices
Published by Adriana Noton on 2011-01-20 14:15:51
With winter now upon us, Canadians have to start preparing for higher energy bills. Budgeting for winter heating bills has now become a necessary task as there are a number of reports showing energy costs are expected to increase in the years ahead. For instance, “household power costs are expected to increase 38% to 47% from now to 2015,” according to a study conducted for Canadian Manufacturers and Exporters. As well, heating and cooling your home now accounts for about 60% of the average energy costs per household. For those on a tight budget, it is essential that they save money on their heating bills by implementing measures to conserve energy.
If you are looking for ways to lower your heating bills, below is a list of helpful tips on how to save and budget amid rising energy prices:
• Budget for Winter: An effective way to ensure you can afford higher heating bills in the winter is to establish a winter heating savings account. Each month, deposit a certain amount in the account and by the time the cold arrives, you will have saved a substantial amount which you can use towards your heating costs.
• Lower the Thermostat: When the heat is on 24 hours a day, it uses a lot of energy which greatly increases the power bill. One way to reduce energy use is to turn the thermostat down at night when you go to bed and when you are away from the home. You will see a significant reduction in your power bill. If you want to save more money, you can turn the thermostat down earlier in the evening and put on a sweater if you start to feel cold.
• Improve Furnace Efficiency: When a furnace has to work harder to heat the home, it will raise your power bill. Have your furnace serviced by a professional. Cleaning the ducts, furnace, and air filter will improve its effeciency. Make sure the furnace is not exposed to any cool drafts so it will not be constantly running.
• Turn the Lights Off: You will save a lot of money if you turn off unnecessary lights. For instance, if you are not using a particular room, make sure the lights are off. As well, using energy efficient light bulbs will help you cut down on your energy costs.
• Programmable Thermostat: Using a programmable thermostat will allow you to control the heating times in your home. You can preset the heat to go down after you go to bed, turn on shortly before you get up, and then go back down after you have left the home.
• Keep Heat in Your Home: Heat escaping from your home can cause the furnace to run more often which will increase your power bill. Insulating your home to keep the heat in can include: installing insulation in the attic, using double pane windows and installing weather stripping around the windows and doors.
Unfortunately, higher energy costs come with the arrival of winter. The good news is there are many ways you can cut your winter energy costs. For instance, consider a home energy audit. The Ontario government has a program called the Home Energy Audit Program. The government provides a rebate of 50% of the cost of an energy audit to your home. When you make a few changes and some small investments, you can drastically reduce your energy costs. In today’s economic climate, most of us can use the extra savings.
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