Consider replacing your current light bulbs with LEDs since lighting remains a “significant portion of electricity usage,” said Alexander Goldstein, CEO of Eligo Energy, an energy retailer based in Chicago which provides electricity to residential and commercial customers in deregulated states. Another plus is that LED bulbs are up to ten times as efficient and last up to 50 times longer compared to incandescent bulbs. To boot, they are better for the environment compared to florescent or CFL bulbs. In fact, given that lighting can total 5% to 10% of household energy costs, the average consumer can save $75 to $200 annually by switching over to more efficient bulbs.
Those older model computer monitors or televisions that have the cathode ray tubes (CRT) should also be replaced with the newer liquid crystal-display (LCD) screens, because they use less power.
At home or in your business, examine your current servers for your data and consider “consolidating multiple older servers into new more efficient hardware” or simply using the cloud, he said. Servers are large consumers of power and also emit heat, requiring additional air conditioning to keep them at a very low temperature constantly.
Read the full article at Slash Energy Costs
For months, American drivers have enjoyed near historically low gas prices, with the national average dropping to only $1.89 per gallon.
Even President Barack Obama sees the benefits of low gas prices, commenting “gas under two bucks a gallon ain’t bad,” in last week’s State of the Union speech. Behind the huge drop in gas prices is an even bigger collapse in the price of oil, from more than $100 a barrel in 2014 to just under $30 a barrel this week.
So plan that road trip, America. Gas prices are at historic lows and could even keep declining, which is already having several surprising side effects.
3: It Will Become Easier To Save Money
“Lower gas prices mean that the cost of transportation and heating will be lower,” Alexander Goldstein, founder and CEO of Eligo Energy told The Daily Caller News Foundation. “It is no surprise that consumers will save the money that they aren’t putting into their gas tanks. According to recent studies, Americans saved 5.5 percent of their income in November because they spent less money on utility bills and gas….A fall in oil prices is effectively like a free tax cut.”
U.S. consumers spent $370 billion on gasoline in 2014, meaning a 28 percent price drop is equivalent to a $102 billion tax cut. Low prices at the pump are enormously beneficial to American households who can now use money not spent on gasoline to save more, pay down debt, or buy other goods.
American households are expected to save $700 to $750 at the pump this year, according to analysis by the Energy Information Administration.
Read the full article at Low Gas Prices
Offices come with their own particular set of energy savings challenges. Maintaining buildings systems and creating the best possible work environment for tenants, all while maximizing energy savings is hardly a simple undertaking. Unfortunately, even the most experienced building and facilities managers can make simple mistakes that lead to unnecessary energy consumption and heightened electrical bills.
To navigate these challenges, we have collected and debunked leading office energy myths, found the top 5 ways to save money on your energy bills and explain the most common mistakes regarding office energy use:
1. Always buy EnergyStar products.
Products with an EnergyStar mark are the most energy efficient and will save you a considerable amount of money in energy costs compared to standard models. So make sure all of the office appliances bear the mark to ensure you don’t miss out on easy savings.
2. Turn the lights off when you leave the room.
Leaving a light on will always consume more energy than turning it on and off, as needed. If the bulb is on, it is using electricity, and if it’s off, it isn’t — it’s as simple as that. A light bulb doesn’t use extra electricity turning itself back on. Instead of leaving a light on in an empty conference room, make it a habit to turn off your lights when not in use. Using natural light during the day time will reduce the amount of energy you use each day.
Continue reading at Energy Costs
As this graph from the American Automobile Association (AAA) shows, the U.S. average price for a gallon of gasoline has fallen dramatically since the second half of 2014. As of February 8 of this year consumers were paying an average of $1.74 per gallon of gasoline, representing a 44-cent year-on-year decline, according to AAA. Barring any significant supply disruptions, AAA expects the low-price trend to continue for the near term.
A Limited Victory?
“Consumers are definitely the biggest winners when it comes to cheap gasoline,” said Alex Goldstein, founder and CEO of Chicago-based energy retailer Eligo Energy. “They are able to immediately see the difference of lower prices at the pump in their checkbooks and as a result will be more likely to use their savings in other areas of the economy.”
Industries such as manufacturing, agriculture and transportation also benefit from low fuel prices, said David Holt, president of the Consumer Energy Alliance (CEA), which counts representatives of those sectors among its membership.
“Reducing the cost of energy for those sectors of the economy helps their bottom line,” he said.
Continue reading at Cost of Cheap Gas
In the old model of city life, most people only had one choice for utility providers in Michigan. Whether it was the phone company or the electricity provider, one company had a monopoly. While this removed the requirement to research different providers, it also meant that there was little room for individual choice. If your local utility company offered poor service or high prices, there was little that could be done about it.
Today, energy deregulation varies by state. The majority of states, like Indiana, have completely regulated markets, which means there is only one energy provider. Texas is an example of a deregulated state with a completely open market that allows utility customers to choose from a variety of energy providers. (more…)