Everyone is affected with electricity prices going dearer day by day but there is a way by which residents can save $300 a quarter on bills. You only need to shop around and if you want more savings then go install solar panels. A new research has revealed that there is drastic price variation between electricity cost of different retailers. One electricity retailer offers both lowest and highest prices.
The research compared about 58 energy plans for a family with medium daily power usage of 16.1 kW.For that much energy the prices varied from $458 to $790 depending on the retailer and the offered plans. The gap widened for families with high energy consumption of 24.2 kW. The costs started from $646 to $1,113. The gap is of $467.
How can you reduce power bills?
- Reducing the usage at home
- Use heavy appliances at off-peak times
- Change your retailer
- Install solar panels at your rooftops
There are many devices in your home which consume power even when they are not being used. Their power supply needs to be cut from the wall socket. Such appliances are Televisions, Computers and DVD players. They go on standby and that yet consumes energy.
To check this just see if the DC power supply to the laptop or tablet feels warm even when you are not using the device. If it’s warm then you should pull the plug from socket.
Appliances like Washing Machines and dishwashers should be used in the day as a lower tariff will be charged to you. If you have a solar power setup then you should try to use these appliances in day as much as you can.
The price hike in energy has become a financial concern for everyone.
You can also use devices that are used to measure the amount of energy consumed by every device. Identify those power hungry devices and cut their energy consumption.
A cheaper retailer
Though the dealer is supposed to tell you the cheapest alternative always, but you should be proactive and enquire about all the plans. The retailer would find it better to provide you a cheaper plan rather than losing you as a customer. Try to negotiate with the retailer.
Energy regulator is encouraging demand management deals between consumers and retailers. In this, customers agree to reduce energy use in peak demand times.
Install solar panels and make your own electricity
In addition to these there are many bulk deals for buying solar energy setups. This is to financially assist those households who wish to shift to renewable energy for their households.
You can also get subsidy from your retailer if you install solar energy setup.
Combining all the methodologies you can reduce your electricity bills and you will be saving money in a market where prices are always rising.