Unplug These Appliances to Lower Your Electricity Bill This Fall

Understanding the Rising Cost of Electricity in the U.S.

Electricity rates across the United States are on the rise, and this trend is expected to continue. According to projections from the U.S. Energy Information Administration, retail power prices are anticipated to increase at a faster rate than overall inflation through 2026. This means that households may find themselves paying more for their energy usage, especially as the seasons change and demand fluctuates.

With the arrival of fall, even though it officially begins in late September, it's wise to start planning ahead to manage energy costs effectively. Taking steps now can help reduce electricity bills and make energy expenses more manageable throughout the season.

Tips for Managing Energy Costs

One effective strategy is to unplug appliances that are not in use. Barret Abramow, project manager and co-owner of Grounded Electric, emphasizes that many people forget about devices they used during the summer, such as window air conditioning units, portable fans, dehumidifiers, and outdoor entertainment systems like patio TVs or Bluetooth speakers. These items can still draw power even when not actively being used.

Additionally, Abramow highlights the importance of unplugging pool pumps, which can be a significant source of energy consumption if they continue running after the swimming season ends. Even unused garage fridges or beverage coolers can contribute to higher energy bills.

In some regions, it might not be feasible to unplug air conditioning units until later in the fall, but for any appliance that isn’t actively being used, unplugging is recommended.

The Role of Smart Plugs and Power Strips

Smart plugs and advanced power strips can also play a role in reducing energy costs. When used correctly, these devices can help cut off power to electronics that draw standby energy. For example, game consoles, printers, or TVs that remain in standby mode all day can consume a surprising amount of electricity.

However, not all smart plugs are created equal. Abramow warns that low-quality models or those overloaded with too many devices could themselves consume a small amount of energy. In most cases, a high-quality smart plug will help reduce phantom load without adding to it.

Potential Savings from Unplugging

According to Abramow, unplugging or cutting standby power using smart plugs or power strips can save a household anywhere from $50 to $150 per year. The exact amount depends on how many unused or idle electronics are plugged in continuously.

While this may seem like a small amount, it adds up over time. Consider the impact of every unused charger, cable box, speaker system, or appliance quietly consuming electricity throughout the year. Being intentional about unplugging or using smart power strips can lead to real savings, especially when applied across an entire home.

Additional Financial Strategies

Managing energy costs is just one aspect of financial planning. There are other strategies that can help individuals save money and build wealth. For instance, passive income can be a valuable tool for financial stability. Starting this week, there are several ways to generate passive income that don’t require a lot of effort.

For those who have reached a savings milestone of $50,000, there are specific actions that can be taken to maximize financial growth. Similarly, downsizing can be a practical approach for middle-class families looking to reduce monthly expenses.

Other tips include living frugally in preparation for potential economic downturns, retiring early, and implementing wealth-building shortcuts that can add significant value to one’s finances.

By taking proactive steps to manage energy costs and explore other financial opportunities, individuals can work towards greater financial security and long-term stability.