The rapid development of data centers, artificial intelligence, and domestic manufacturing is sparking fears that electricity prices will continue to soar, putting further strain on consumers’ wallets.While the underlying price for electricity is set by utilities, state regulators, and grid operators, there are several actions homeowners and small business owners can take to lower their monthly bills.For homeowners, the key to lowering their electric bills is addressing how exactly they are consuming and using energy.
“I think it comes down to what comfort level can a customer live with,” Meghan Dewey, senior vice president of products and services and pricing solutions at Duke Energy, told the Washington Examiner.“Because there are a lot of ways you don’t even have to use energy, but you might be a little uncomfortable,” Dewey continued. “You can turn your thermostat up pretty high in the summer, but are you going to be comfortable? But, I do think that there are things we take for granted.”Conducting an energy assessment
One of the best ways a homeowner or small business owner can determine how they are using their energy and electricity, and where changes can be made, is to conduct an energy assessment or audit.A professional assessment generally costs between $300 and $500, depending on the size of the home or business. However, many utility companies, including Duke Energy, PG&E, Eversource, and Pepco, offer these assessments at no additional cost.Duke Energy, for example, will travel to the customer’s home or conduct the assessment online if the individual does not want anyone entering the home.During the assessment, the company will identify various things the homeowner can do to save energy, such as upgrading the heating, ventilation, and air conditioning system; adjusting temperatures in various rooms; or changing out old or dirty air filters.“It all depends how you’re managing it now,” Mark Wolfe, executive director of the National Energy Assistance Directors Association, told the Washington Examiner. “If you haven’t had your air conditioner tuned up, if you have dirty filters, all that makes your system less efficient.”On average, Wolfe estimates, homeowners can save between 10% and 15% on their electricity bills by taking “relatively inexpensive efficiency measures.”Changing habits
