Experts Share Their Best Energy-Saving Tips In Reaction to CNET’s Latest Survey

This summer, Americans are feeling the heat not just from the rising temperatures, but also from their increasing energy bills. A recent CNET Money survey found that over three-quarters of US adults are worried about their home energy costs, with 32% resorting to financing options like credit cards, loans, or payment plans to manage the expenses.

The concern over energy bills is not surprising, considering that 93% of Americans are already worried about inflation, and 41% are particularly shocked by high utility bills. While some individuals have been able to keep their energy costs stable through energy-efficient upgrades, many others, especially those living in older homes, are experiencing a surge in their bills.

The latest Consumer Price Index report shows a 4.7% increase in energy costs since May 2023, leading to further anxiety about the direction of the economy. With concerns about rising everyday costs and energy consumption on a warming planet, it seems like expensive energy bills are becoming a permanent fixture. However, there are steps that can be taken to reduce these costs.

The survey conducted by CNET revealed that rising energy costs have impacted the finances of most US adults, especially those in the South and Northeast regions. Nearly three-quarters of those affected are taking action to lower their energy costs, with many cutting back on essential and nonessential spending. Additionally, 21% are resorting to borrowing, while 19% are using payment plans or assistance programs.

Despite the widespread impact of high energy bills, there are ways to save money and energy. From utility-approved payment plans to budget billing and low-income assistance programs, there are options available to help alleviate the financial burden. Moreover, making energy-efficient upgrades and monitoring energy consumption can also contribute to reducing energy costs.

Experts recommend using energy-efficient products, adjusting thermostat temperatures, participating in virtual power plant programs, and insulating homes to improve energy efficiency. Additionally, exploring options like solar panel investments, community solar programs, and checking for deregulated energy markets can provide long-term savings on energy bills.

While the cost of energy-efficient upgrades may be a concern for some, there are tax credits, rebates, and savings calculators available to help offset expenses. Conducting a home energy audit can also provide insights into cost-effective solutions for reducing energy bills. By taking proactive steps and exploring available resources, individuals can effectively manage their energy costs and contribute to a more sustainable future.