Kimberly Palmer: Creative ways to cut your energy costs this summer - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Advertise
    • Contact
    • Editorial Staff
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
July 3, 2023 Newswires
Share
Share
Post
Email

Kimberly Palmer: Creative ways to cut your energy costs this summer

Associated Press

Blasting the air conditioning to counteract stifling heat can provide much-needed relief this summer, but the utility bills that follow might not be as pleasant. According to the Bureau of Labor Statistics, the price of electricity has been steadily climbing over the past two years.

“Most U.S. households will continue to pay high costs for energy throughout the summer because of high energy prices and the anticipated hot temperatures,” says Courtney Klosterman, home insights expert at insurer Hippo.

The good news is you might have more control over your energy usage than you think. Paula Glover, president of the Alliance to Save Energy, a nonprofit that advocates for energy efficiency policy, estimates that based on numbers from the Energy Department, consumers could save 10% to 20% a year on energy bills just by shifting habits and making some energy-efficient investments. But, she adds, “You have to be diligent.”

Here are five steps you can follow to lower your energy bill this summer:

TAKE A BASELINE

Before making any changes, it’s helpful to examine how much energy you currently use, says Angie Hicks, co-founder of Angi, a website that provides information on home services. Hiring a professional to give your home an energy audit typically costs between $200 and $700 and gives you helpful information about where your home might be leaking, she adds. You can find one through local home service provider listings, and some utilities offer the service for free.

In certain cases, electronics themselves might be leaking, says Ethan O’Donnell, digital editor of FamilyHandyman.com, a website about home improvement projects. Televisions, appliances and all kinds of other electronics can use energy even when they are turned off, he says. A tool called an electricity usage monitor, which can be found for under $15, helps determine exactly how much.

O’Donnell discovered that his lamp, appliances and phone chargers were using more electricity than he realized even when powered off, so he made an effort to unplug them when possible and estimates he saves at least $50 a month from those changes.

ESTABLISH EFFICIENT HABITS

Simple changes like adjusting your thermostat, turning lights off when you leave the room and keeping windows and doors shut when the air conditioning is on can go a long way, Glover says. Installing a smart thermostat, which automatically adjusts the temperature based on time, your habits and the season, can also help, she adds.

Hicks suggests leaving window coverings closed during the day to help keep the sun’s heat out of your home and getting a seasonal tuneup to your air-conditioning system to make sure it’s working efficiently. Changing your air filter monthly or quarterly also helps it run better, she adds.

MAKE SMALL UPGRADES

Small home improvement projects, such as adding or replacing weather stripping that seals leaks around doors and windows, can significantly reduce your energy consumption, Hicks says. “Walk around your house with a lit candle and if the flame flickers, that’s where drafts are coming in. That’s a good candidate for weather stripping,” she says.

Another simple job involves swapping out incandescent bulbs for LED light bulbs, which use at least 75% less energy, according to the Energy Department. “It seems like nothing but has an enormous impact when we do it collectively,” Glover says.

UPDATE YOUR APPLIANCES

While purchasing new appliances can be expensive, the investment can pay off in energy savings, especially when you select products with the Energy Star certification, a program run by the Environmental Protection Agency. “If you have an old appliance and you can afford to upgrade to something energy-efficient, do that,” Glover says, but notes that you should also prioritize other home updates such as better insulation.

TACKLE HOME IMPROVEMENT PROJECTS

According to Angi’s State of Home Spending in 2022 survey, 29% of homeowners say they plan to add solar panels to their home within the next five years. Updating the heating, ventilating and air conditioning system, or HVAC, was another popular choice (23%). Those kinds of big investments can pay off over the long run, says Hicks, who adds that federal income tax credits are available to help offset some of those costs.

Installing doors as a barrier to different zones in the house can help improve efficiency by letting you control what gets warm and what stays cool, says Jonathan Flynn, a senior building analyst with Home Energy Consultants in Pleasant Valley, New York, and a certified Home Energy Rating System rater. “One of the big flaws in most two-story homes is that there is a stairway that leads up and no door at the top or bottom,” he says.

To prevent that energy leakage, Flynn installed a sliding door at the bottom of the stairs in his own home, but he recognizes that doing so might not be practical or desired by all homeowners with open floor plans. Still, he encourages homeowners to at least consider making these kinds of changes, even if they aren’t currently popular.

After all, he adds: “Energy efficiency work in your home is one of the few investments you can make that will actually pay you back.”

_________________________________

This column was provided to The Associated Press by the personal finance website NerdWallet. Kimberly Palmer is a personal finance expert at NerdWallet and the author of “Smart Mom, Rich Mom.” Email: [email protected]. Twitter: @KimberlyPalmer.

RELATED LINK:

NerdWallet: How to Lower Your Bills: 38 Ways to Save https://bit.ly/nerdwallet-how-to-lower-your-bills

METHODOLOGY

The State of Home Spending in 2022 survey was conducted by Angi on Oct. 21, 2021. It surveyed 5,000 consumers representative of the general population.

Angi The State of Home Spending in 2022 https://research.angi.com/research/reports/spending/

Older

Ping An Asset Management No.36 in Top 500 Asset Managers 2023

Newer

Jason P. Tank: Roth IRAs are lessons in complexity

Advisor News

  • Trump proposes retirement savings plan for Americans without one
  • Millennials seek trusted financial advice as they build and inherit wealth
  • NAIFA: Financial professionals are essential to the success of Trump Accounts
  • Changes, personalization impacting retirement plans for 2026
  • Study asks: How do different generations approach retirement?
More Advisor News

Annuity News

  • F&G joins Voya’s annuity platform
  • Regulators ponder how to tamp down annuity illustrations as high as 27%
  • Annual annuity reviews: leverage them to keep clients engaged
  • Symetra Enhances Fixed Indexed Annuities, Introduces New Franklin Large Cap Value 15% ER Index
  • Ancient Financial Launches as a Strategic Asset Management and Reinsurance Holding Company, Announces Agreement to Acquire F&G Life Re Ltd.
More Annuity News

Health/Employee Benefits News

  • How might carriers respond to drop in ACA enrollment?
  • CalOptima reports steep membership drop as providers brace for surge in uninsured patients
  • Why Hospitality Owners in South Carolina Need Specialized Group Health Insurance Guidance
  • 'Insurance is not cheap': School board debates absorbing $1.3M premium hike
  • Pennie cancellations mount as swelling costs drive enrollees away from health insurance
More Health/Employee Benefits News

Life Insurance News

  • Eazewell Launches "Advance," Proprietary AI to Manage Your Digital Identity and Inheritance Including Subscription Management and Account Closures to First 12 Enterprise Customers Reaching Over 8M Customers
  • ‘Inappropriate’: CT regulator slams PHL investors for intervention bid
  • New York Life Unifies Global Asset Management Platform Under New York Life Investment Management Brand
  • First Federal Bank recognized for excellent customer service
  • IUL fits at the intersection of certainty and flexibility
Sponsor
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

Get up to 1,000 turning 65 leads
Access your leads, plus engagement results most agents don’t see.

What if Your FIA Cap Didn’t Reset?
CapLock™ removes annual cap resets for clearer planning and fewer surprises.

Press Releases

  • ICMG Announces 2026 Don Kampe Lifetime Achievement Award Recipient
  • RFP #T22521
  • Hexure Launches First Fully Digital NIGO Resubmission Workflow to Accelerate Time to Issue
  • RFP #T25221
  • LIDP Named Top Digital-First Insurance Solution 2026 by Insurance CIO Outlook
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Advertise
  • Contact
  • Editorial Staff
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet