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

Jul 15, 2024, 10:53 PM | Updated: 11:00 pm

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.

Follow @kslsports...

KSL Sports

Bronny James Gifts BYU WR JoJo Phillips Signed Game Jersey

Bronny James reunited with his former high school teammate JoJo Phillips and gifted the BYU wide receiver a signed game jersey.

3 hours ago

Follow @kslsports...

KSL Sports

Luka Doncic Carves Time To Sign Autographs For Fans In Utah

Luka Doncic made time on Wednesday to sign autographs for his fans in Utah as the Los Angeles Lakers faced the Jazz.

3 hours ago

...

Alex Cabrero and Keira Fairmont, KSL TV

Italian Curling Hopeful Aims for 2026 Winter Olympics in Historic Cortina Venue

With the Winter Olympics just a year away, the countdown holds special significance for one Italian athlete.

3 hours ago

Fifty-five percent of us replace our smartphones every two to three years according to tech website...

Matt Gephardt and Sloan Schrage

Don’t replace your phone when repair can save you hundreds of dollars

55% of us replace our smartphones every two to three years according to tech website, SlashGear. But for many users, it’s an unnecessary upgrade.

3 hours ago

Follow @kslsports...

KSL Sports

Jazz Get Revenge Over Doncic, Lakers 131-119

SALT LAKE CITY – The Utah Jazz sent Luka Doncic and the Los Angeles Lakers into the All-Star break with a 131-119 loss. Lauri Markkanen led all scorers with 32 points while the Lakers were led by Rui Hachimura who scored 19. Game Blog: Jazz Blowout Lakers In Salt Lake City Jazz Guards Stuff Stat […]

4 hours ago

A new bill being debated this legislative session could provide hundreds of more high school kids w...

Dan Rascon

New Utah bill could provide technical education to hundreds more high school students

A new bill being debated this legislative session could open the door for hundreds of more high school kids to technical careers—before they graduate.

4 hours ago

Sponsored Articles

luxury living room with a classic white sofa and sofa, interior design...

Lighting Design

Revisiting home lighting trends for 2025

Looking for inspiration to revamp your home lighting? This article outlines some of the emerging lighting trends for 2025.

holiday gift basket with blue tissue paper and gingerbread cookies...

Kneaders Bakery & Cafe

Holiday hacks for a stress-free season

Get more out of your time with family and loved ones over the holidays by following these tips for a stress-free season.

2 computer techs in a computer shop holding up a computer server with the "hang loose" sign...

PC Laptops

A comprehensive guide to choosing the right computer

With these tips, choosing the right computer that fits your needs and your budget will be easier than ever.

crowds of people in a German style Christmas market...

This Is The Place Heritage Park

Celebrate Christkindlmarket at This Is The Place Heritage Park!

The Christkindlmarket is an annual holiday celebration influenced by German traditions and generous giving.

Image of pretty woman walking in snowy mountains. Portrait of female wearing warm winter earmuff, r...

Lighting Design

Brighten your mood this winter with these lighting tricks

Read our lighting tips on how to brighten your mood in the winter if you are experiencing seasonal affective disorder.

A kitchen with a washer and dryer and a refrigerator...

Appliance Man

Appliance Man: a trusted name in Utah’s home appliance industry

Despite many recent closures of local appliance stores, Appliance Man remains Utah's trusted home appliance business and is here to stay.

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