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How To Save On Your Energy Bill: Evaluate Your Current Usage & Maximise Savings.
- April 21, 2022
- Energy Saving, IoT, Smart Home, Technology
Millions of British households will see a £700 increase in their energy bills this year now that the new price cap is in force.
You may have recently seen the news that prices are rising at their fastest rate for 30 years and millions of British households are facing the prospect of a soaring energy bill. On the 3rd of February, the energy regulator Ofgem announced a £693 a year increase in the typical household bill. This came into force at the start of April which means each household will pay a massive £1,971 a year on average, up from £1,277 a year. So how to save on your energy bills?
Make the Most of Your Home
While it is important to be mindful of how much energy your home uses, it’s also important to remember that how you heat or cool your home can affect your bill drastically. Here are a few tips to get you started:
Compare Energy Prices
While switching deals and fixing prices used to be the top tip to save money, the high prices of wholesale energy mean it may not be possible to get a better deal by switching now. Here some advice from Andrew Capstick at MoneySavingExpert.com on how to get help if you are struggling to pay your energy bills.
Turn Down the Temperature
One of the easiest ways to save on your energy bill is to keep your home between 18 and 20 degrees — this is the temperature range where energy costs are lowest. You can accomplish this by turning down your thermostat or using an energy-efficient smart radiator valve. Smart TRVs are designed to provide an individual, room-by-room heating control, by working in conjunction with your thermostat and creating a zoned heating system. You can also set up a heating schedule that runs completely by itself and can be easily managed through an app.
Install a Programmable Thermostat
It appears the latest game is claiming that your smart thermostat saves more than the next companies however, independent studies say customers save on average 10-12% with a smart thermostat. Nearly 50% of households with programmable thermostats set them up incorrectly or don’t bother using them. Smart thermostats take the hassle out of this, ideally never forgetting to adjust your temperature. These types of thermostats allow you to set a temperature, and once that temperature is reached, they automatically adjust the temperature in your home to maintain that temperature. This means you don’t have to constantly monitor the temperature in your home, saving you time and energy. Programmable thermostats generally cost a little more, but they pay for themselves over time.
Set Up a Home Energy Audit
Home energy audits are becoming increasingly popular as a simple way to save on your gas and electricity bill. During an audit, your energy consultant will conduct an evaluation of your home to determine how you are currently heating and cooling your home, how you are currently using energy in your home, and what adjustments can be made to maximise energy efficiency.
Home energy audits vary in price but expect to pay between £60 and £120 for a thorough assessment. There is some debate about whether an audit actually saves you money, but at minimum it is a good way to learn about all the ways your home uses energy and make any necessary adjustments.
Cost based on Home Heating Guide
Know Where Your Money Goes
One of the most important things to keep in mind when it comes to saving on your energy bill is to know where your money goes. This is true even if you have a programmable thermostat — you still need to know what temperature you set it at and what adjustments you make. A programmable thermostat is useless if you don’t know what temperature it is set at. Similarly, if you don’t know where your utility bills are going each month, you can’t properly manage your finances to save on your bill. It’s important to track your spending, including utility expenses. This can be done through a utility-specific app, a budgeting app, or even on a spreadsheet.
Bottom Line
There’s still a lot you can do to reduce energy consumption and save money. You can make simple adjustments to your home to reduce your heating and cooling bill, and you can also make sure to track your spending to ensure you aren’t wasting money on unnecessary expenses.
So, on the technological side, are smart thermostats a sensible way to save money? Quite possibly depending on your circumstances and certainly one that’s worth investigating! They also have a range of other benefits based on whole home control and comfort depending on the solution you choose. However, if you’re looking to develop your own solution, just get in touch! Here at Ovon we’re experts at developing heating solutions, from the very early concept and prototyping to manufacturing. Through the process our projects get prepared to go to market not only with the best device but also with the data, security, and cloud infrastructure to enable it.
Passion for product design and progressive iteration are the key elements for us.
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