How to Combat Rising Power Prices

If you’re worried about rising power prices, you’re not alone. According to a 2018 survey by Canstar, rising energy costs are the biggest financial concern for many Australian households, with 30 percent of those surveyed more concerned about rising electricity and gas prices than job security, interest rates and other financial concerns.

Switching to solar is an option for many homeowners, but even if you have solar panels installed, chances are you’re still reliant on mains electricity for some of your electrical needs. Fortunately, there are many ways Australian households can combat rising power prices.

Negotiate or switch

The 2018 Canstar Blue Energy Insights Report shows just how important it is to choose the right plan for your needs. With the cheapest plan for a household of 5 at $1800 annually and the most expensive at $4500, there’s a great opportunity to reduce your energy bills. In fact, you could potentially lower your annual energy expenses by as much as $2700. If you don’t think you’re getting a good deal (45 percent of consumers don’t), then it’s time to look at your options, and you may be surprised by how many you actually have.

Minimise energy consumption

Most Australian households use more energy than they need to and there are many ways to lower your energy bills by minimising energy consumption. Choosing energy-efficient appliances is an excellent way to use less energy and you’ll regain the additional initial outlay in lower energy bills. However, if you’re not shopping for a new oven or washing machine at the moment, there are many other ways to minimise energy usage at home.

• Open the windows and use less air conditioning. Setting the timer on the air conditioner and avoid turning the temperature down too low are both easy and effective ways to lower energy usage while keeping cool and comfortable.
• Keep the area around your fridge clear. Fridges operate more efficiently when they have plenty of ventilation. Keeping the fridge full reduces the amount of air inside that needs to be cooled which also reduces energy consumption.
• Set a 24-hour timer on the solar hot water system. This helps to reduce the amount of mains electricity consumed and draw maximum power from your solar panels. Pool and bore pumps are also ideal to run off a 24-hour timer.
• Use appliances efficiently. It only takes a second or two to adjust the settings on appliances such as washing machines and dishwashers to the most appropriate setting. This is a quick and easy way to reduce energy consumption.
• Change light bulbs to LED. Not only do LED light bulbs use 75 percent less energy than regular incandescent bulbs, but they also last up to 25 times longer, further saving you money.

All the little changes you make at home can add up to a big difference in your energy bills. It’s the simple things like turning off lights and washing full loads of clothes that often make the biggest difference.

Switch to solar

With solar battery technology getting better by the day, it’s an exciting time to invest in a solar power system. While battery prices are still too high for many Australian homeowners, when they drop it will make it easy to say goodbye to mains electricity once and for all. However, in the meantime you can still generate a significant percentage of your energy needs with a solar system. Solar is one of the best ways to combat rising power prices.  

If you have any questions about minimising your household energy consumption to combat rising power prices, don’t hesitate to contact Smiley Mick Electrical.