Energy Saving Tips for the Cost-of-Living Crisis

Many households in Perth have been experiencing the rising cost of living over the last several years. Soaring interest rates, inflation & rental prices increasing have all combined to create the current cost of living crisis. But how can we reduce the impact of these price increases? We’ve put together some simple energy use tips to help you manage rising energy expenses.

Why is the Cost of Living Increasing?

The cost of living has reached a record high. The main contributors to rising living costs for households are insurance costs & interest charges, food prices and housing costs (rent and utilities) [1].

The inflation rate is also outpacing the wage rate in Australia. Inflation is how much the general price of goods and services is increasing. Currently, prices are inflating faster than wages are increasing, leading to higher costs of living without a higher wage to compensate. 

High inflation rates lead the Reserve Bank of Australia to increase interest rates. Higher interest rates discourage consumer spending to lower the inflation rate to the target level.

This increase in living costs is likely to continue into this year until the inflation rate returns to a safe level.

Cut Your Energy Bills

Below are some of our tips to safeguard yourself from rising living costs. These simple investments can help you reduce your energy expenses.

1. Monitor Your Home’s Energy Use

• A smart meter/consumption monitor provides regular information about your energy consumption
• Interval data will show when you are using the most/least power
• Monitoring your usage helps identify saving opportunities, especially if you can utilise your own power (solar panels and/or solar battery)

2. Switch to LED Light Bulbs and Use Solar Garden Lights

• Light-emitting diodes (LED) use approximately 75% less electricity than standard household light bulbs [2]
• LEDs fit most existing light fittings
• Replacing existing light bulbs with LED globes will greatly reduce electricity consumption from lighting
• Install solar lights in your garden/outdoor area – they do not require batteries or electricity

3. Switch Off “Standby” Appliances and Go “Energy-Efficient”

• It is estimated that around 10% of your power bill derives from appliances left on “standby” [3]
• Appliances that can be turned off at the wall include microwaves, TVs, washing machines, etc.
• Energy-efficient appliances (check for energy rating labels when purchasing) can also reduce costs as they require less electricity to run

4. Draught Proof Doors and Windows

• Heating and cooling (fans, air conditioners, portable heaters, etc.) are the biggest culprits when it comes to high electricity costs
• Improving your home’s thermal efficiency can greatly reduce energy bills
• Find and fix gaps where cool/hot air can escape – by reducing circulation between rooms, you can reduce the energy needed to heat or cool your home
• Common draught areas include gaps around windows and doors; gaps between walls, ceilings and floorboards; and exhaust fans
• Seal windows and gaps with foams/insulation to reduce draughts
• You can also improve thermal efficiency with draught stoppers under your doors

5. Swap Gas for Electric

• Older homes use gas for heating and cooking
• Gas is more expensive than electricity, and gas prices are ever-increasing [4]
• Electrical alternatives are often more energy-efficient
• Modern electrical appliances have eco-friendly settings to reduce energy consumption

6. Go Solar!

• As electricity prices continue to rise, solar is a great investment for minimising power bills
• Solar allows you to reduce your usage of traditional electricity
• Using the energy your solar system produces saves you on what you would otherwise have to purchase from the grid (around 30c per unit!)
• Although solar has upfront costs, you are investing in cheap, reliable and clean energy
• Rooftop solar and batteries have the potential to supply all the energy you need to run your household

Interested in making the switch to solar? Contact Perth Solar Force on 1300 773 669. Let us help you slash your power bills today!