Paying lower gas and electricity rates is the dream, but while it is possible to find lower rates when you compare prices among Alberta’s energy providers, finding the lowest rates may not actually be the best way for you to lower your energy bill. The solution may be in your energy consumption itself.
How energy efficiency can help you save more
Ever since climate change became a fact, there has been a push towards energy efficiency. You many wonder whether something labelled as “energy efficient” can actually save you enough money to justify the cost of the purchase and installation, or if it is more or less just a marketing ploy on behalf of the companies involved. However, when it comes to creating your own lower gas and electricity rates, energy efficiency really is key. The trick is figuring out where to prioritize your investments in order to maximize your price break.
How much can you actually save by investing in energy efficiency?
While the initial cost of the investment may seem too steep to garner you any actual financial reward, the potential for energy savings is actually pretty significant—and can go a long way towards granting you lower gas and electricity rates for the long term. Studies have shown that Canadian consumers saved more than $20 billion in energy costs in 2011 as a result of energy efficiency improvements that were installed since 1990. Businesses saved more than $14 billion.
How do you make energy efficiency the most beneficial for you?
Focus on the areas that affect you the most. Ideally, doing a complete overhaul of your home or workplace is the most effective way to maximize your energy savings and lower your gas and electricity rates, but realistically, that just isn’t possible. Upgrading to energy efficient everything can get expensive—and there are a lot of energy efficient innovations that are still only being imagined—so it’s better to spread your improvements out over time. However, in order to maximize your savings, you need to prioritize your focus to where you need it most, and this is going to vary based on your environment and lifestyle.
For starters, where is your house or business located? If you are located in a cold, windy climate (aka Alberta), then upgrading to energy efficient windows might be your first priority in lowering your gas and electricity rates. These keep the heat in and the cold and drafts out much more effectively, which means it will cost you much less to heat your home in the winter. There are other ways you can help this along, too. Planting trees outside your home can help break the wind and keep your home warmer in the winter, while creating cooling shade for your house in the summer so you can save more on air conditioning, too.
Other key areas to focus on for lowering your gas and electricity rates include the kitchen—especially if you cook a lot. An energy efficient fridge, stove, and dishwasher (if you have one) can save you a lot. Additionally, you can save by buying water efficient items, too. For instance, replace the ball flapper and valve in your toilet with a water efficient version, and swap out your shower head for one that conserves water. This will save money on your water bill, and will also save on the cost of heating your water. Next, swap out your lightbulbs for energy efficient fluorescent or LED bulbs, and if you spend a lot of time with your entertainment centre, trade in your television for an energy efficient model.
The final suggestion for lowering your gas and electricity rates can be done by everyone and it doesn’t cost a thing! Unplug appliances and electronics when they aren’t in use. A lot of them continuously draw small amounts of electricity, even when they are turned off. And turn out your lights when you don’t need them to be on.
As you start making even the smallest energy efficiency improvements in your home or business, start paying attention to your energy bill. You’ll be surprised at how much lower your gas and electricity rates can get after making even a few simple changes.
