How to save when higher energy costs have a third of Americans paying their power bills on credit

SALT LAKE CITY — Power companies are not immune from the pressures of inflation and for us, that means we must pay more to keep our homes livable in these sweltering summer days. And those rising energy costs also trickle down onto us in other ways, i.e. an uptick in the cost of groceries as stores also have to pay more to keep the building cool.

So, how do we pay for these rising costs?

According to new research from CNET and shared with the KSL Investigators, nearly four in five Americans have had their finances impacted by rising energy costs. And 32% say they’re leaning on their credit cards or some sort of financing arrangement to cover their home energy costs.

“Americans are really looking at their energy bills a lot differently,” said Dashia Milden, an editor with CNET Money.

She says Americans are looking hard at solutions that can bring down those bills.

Bolstered by rebates, 44% of Americans are now eyeing energy-efficient appliances or windows. 20% have made the switch to smart thermostats. 16% are reinsulating their homes. And the relatively new smart outlets, that allow us to turn things off from our smart phones, are now in 16% of our homes.

The KSL Investigators have looked into ways to insulate our homes in the winter. Simple, cheap things like caulking cracks or putting up plastic around windows. An energy expert we worked with was stunned by how much more efficient some simple changes made a home in Sugar House, such as the drastic reduction of leaking air.

“That’s like a third down or a quarter of the way down,” said Thomas Camoin of Griffin Energy Audits said of the pressure change.

Those same cheap fixes can help you in the summer, too. And if all else fails, there may be help available.

“If you are really at a point where you’re looking at your energy bill and it’s starting to exceed your budget, you may call your energy provider and see if they have a payment plan that really breaks those payments down to me a little bit more affordable and predictable from month to month,” Milden said.

One way to lower prices involves a bit of suffering the heat. The recommended temperature from most thermostats is 78 degrees. But if you’re one that likes it cooler, you should know that many energy experts say you can shave around 2% off the cost on your energy bill, for you every degree you bump up your thermostat.