What is the Average Electric Bill in Colorado and How Can You Save Money?

Your electric bills don’t just go towards the electricity you use; they also help maintain and operate the power grid, and help support other public funds that promote energy efficiency in Colorado.

But, how do you determine exactly why you pay the amount that you do for electricity?

The amount of electricity you use every month and your electric rate are used to determine your monthly electric bill. You can find the average electric bill by multiplying the average electric rate by the average monthly consumption:15/kwh x 896 kwh. For instance, the average electric bill in Colorado for residential consumers is $130 monthly, which amounts to $1,560 annually.

With the rising electric bills in Colorado, you need to understand different ways to help you save money spent paying electric bills. 

Today’s article will go over a handful of different things that you can try if you want to save money on your electric bill in Colorado.

6 simple ways to save money spent paying electric bills

Were you surprised by your last electric bill? Are your monthly electricity bills becoming too much of a financial burden? 

Here are some simple, yet effective tips that can help you reduce your electric bill in Colorado.

1. Turning the lights off when you’re not home

Many of us are aware of the energy conservation concept. But did you recognize that something as easy as switching off the lights once you leave a room could save you cash? That is true!

According to studies, switching off light bulbs when they aren’t in use can help you reduce your electric bill by as much as 10%. That’s a lot of money, particularly if you own a big house or live in a part of Colorado with above-average electric bills.

As a homeowner, switching off the lights while you’re out of the room will undoubtedly help you reduce your average energy bill in Colorado. In addition, it will extend the life of your lightbulbs, which can lead to additional savings.

2. Using electronic gadgets at the right time

If you own a heat pump, it is ideal to set it to run a few minutes before you get home. This will ensure that the heat pump doesn’t run all day, wasting precious energy and that it provides you with some much-needed warmth when you return home. Setting the temperatures a bit lower is also recommended – higher temperatures won’t help heat your room any faster.

Also, running a laundry machine or dishwasher when there is less demand for electricity is less expensive than doing so in the evening, thus saving you on your electric bill in Colorado. This is because demand for power peaks in the early evening when people come back from work and turn on water heaters, lights, coffee makers, and ovens.

You can also program the dishwasher to operate when power is cheaper. In fact, you can easily install timers on all your equipment, such as the oven, air conditioner, and water heater, for automatic timing when they turn on and off (if they don’t already include one). 

Here’s an example: Switch off all gadgets in the morning until midday; after work in the afternoon; late evening but before nightfall, and then turn them on around 6 a.m.

3. Unplugging electric gadgets when not in use

Even when you are not using an electric device, it consumes a small amount of electricity. This type of energy usage is known as “vampire usage” or phantom load.”

Unplugging electronics lowers the phantom load. For example, if you enjoy using a juicer to make juice in the morning, unplug it until you need it again. 

Various utilities offer home energy audits at a smaller fee, where they send a specialist to evaluate your home gadgets. You can also conduct a self-audit to identify areas where you can reduce energy consumption. One game console, for example, can consume 26 kilowatt-hours which can increase your Colorado energy bill by 5%.

4. Ensuring that the seals on your door and appliances are tight

We frequently ignore having a tight seal on our devices, such as freezers and refrigerators. While you may assume this is a minor concern, you will be amazed to know a significant amount of energy is going to waste when the cooling equipment’s sealing mechanism fails. If your freezer cannot maintain a perfect seal, it will consume significantly more electricity, which can increase the average bill you pay in Colorado.

Also, the seals on your entrance doors should be in good condition. Any gaps allow for leakage, making it more challenging to keep your home at a comfortable temperature. Similarly, depending on the weather, the seals in your houses can be crucial in keeping you cool or warm.

5. Use of solar power

Lowering your average electric bill in Colorado does not necessitate sacrificing your comfort. When you have unlimited solar energy day after day, you become less reliant on man-made forms of electricity. Not using grid power every time is a fantastic way to reduce your average electric bill in Colorado.

Solar energy is becoming more popular worldwide and is an excellent form of green energy. Solar panels are placed on the roof, converting the sun’s rays into clean power. The good thing is that while the initial installation cost might be a bit high, you’ll enjoy significant energy savings later.

In essence, with solar energy, all you need is sunshine, solar panels, and battery storage. From here, you can forget about the high electricity bills that everyone is complaining about. Contact us if you want more advice on how to heat your house and save on energy bills in Colorado.

6. Lower your thermostat settings

As the weather gets cold, it’s tempting to raise the thermostat to keep your house warm. However, one of the most effective ways to save money, the environment, and energy during the cold season is to reduce the temperature in your house by a few degrees.

Here’s a good starting point: Set the thermostat to 68 degrees when you’re home and lower it when you depart. 

According to the Department of Energy, reducing the thermostat by 7 to 10 degrees before exiting the house for only eight hours can save you between 5% and 10% on your electric bill in Colorado each year.  

Cooling and heating your home accounts for roughly half of your power bill, consuming a lot of energy and costing the most money of any system in the house.

Takeaway

If you have additional questions about your HVAC system, you can count on our team at IMS Heating & Air.