How to get your energy bills down, according to the experts
Consumers may be paying more for their energy bills this year, but they’re also getting less of it, according the Energy Information Administration.
The agency released its Energy Star ratings today and it’s clear that consumers are spending less on energy than they did last year.
According to the agency, consumers spent $2,847 more on energy last year than they spent in 2012.
And consumers are getting less from their energy use than they were four years ago, with the average price of energy for residential consumers increasing to $2.21 per kilowatt-hour from $2 per kilo in 2012, the EIA said.
The EIA’s annual report found that energy consumption decreased by 2.4 percent in 2012 and by 1.3 percent in 2011, according a news release.
Consumers may have been getting more than they paid for in energy this year.
“This year’s average residential electricity bill is a $1.21/kWh higher than the average residential bill in 2011,” the agency said.
“Consumers are paying less per kWh, and are paying for less of the energy they use,” the EAA said.
Consumers also have fewer energy-saving devices on their home and are spending more on water heaters and heat pumps, according of the EIAA.
However, consumers may not be getting all of the benefits of energy efficiency this year as they may be losing more than the $5.4 billion they spent on energy efficiency in 2012 — a drop of 10 percent, according on average, from the previous year.
Consumers are paying $5,200 more for an energy-efficient light bulb in 2012 than they do in 2011.
“Energy efficiency and other energy-efficiency programs were the most cost-effective investments made by consumers this year,” the report said.
However that means more energy-savings devices will need to be replaced this year than last year, and consumers are also spending more to save on appliances this year to stay competitive with their rivals.