How to save money on air conditioning as electric bills climb
Summary
This summer, many U.S. households will face higher electric bills due to increased use of air conditioning during a heat wave and rising electricity costs. Experts suggest gradually raising thermostat settings to 78 degrees Fahrenheit and using energy-saving habits to lower cooling expenses.Key Facts
- Cooling costs in the U.S. are expected to rise by 10.5% this summer compared to last year.
- Electricity prices have been increasing faster than overall inflation, caused by factors like data center energy use, higher gas prices, and electric grid repairs.
- Energy economist Mark Wolfe recommends raising thermostats by one degree every few days, up to 78°F, to save about 3% on electric bills per degree.
- More than 185 million people in the Northeast are under heat alerts, including major cities like New York and Boston.
- New York City’s mayor asked residents to set air conditioners to 78°F and reduce electricity use by turning off unused devices.
- Closing blinds and shades during hot times can help reduce indoor temperatures.
- Maintaining and repairing air conditioning units improves energy efficiency and can reduce electricity costs over time.
- People can raise thermostat settings higher when away and lower them when home to save energy efficiently.
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