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Four Tips to Get the Most Savings on TOU

Time of Use Logo

If you choose to use Time-of-Use (TOU) rates, you can usually save money by aligning your energy consumption with the peak and off-peak hours (Currently at FreeState, peak is 3-6pm Mon – Fri). You don’t have to use less energy, you just need to shift when that energy use occurs. (Although using less energy will also help increase your savings!)

With these four tips on how to reduce your energy consumption and lower your electricity bill with a Time-of-Use rate plan, you can make effective adjustments that will help you take advantage of the reduced rates during off-peak hours, and limit usage during peak hours.

1. Get a Smart Thermostat

Your home's heating and cooling system uses a lot of electricity. A smart thermostat can help you save money by using less energy during peak times.

To save the most, set your thermostat to different temperatures for different times of the day. For example:

  • In the summer, set the thermostat to 78 degrees when you're not home.
  • In the evening, lower it to 75 degrees when you return home.
  • During off-peak hours, it costs much less to cool your home.

Ceiling fans can also help by moving the air around, so your heating and cooling system doesn't have to work as hard. Just make sure to keep windows and doors closed to keep the cool or warm air inside. 

2. Use Appliances During Off-Peak Hours

Things like washing machines, dryers, and dishwashers use a lot of electricity. If they are old, think about getting newer, energy-saving ones. No matter how new your appliances are, you can still save money by using them at different times.

To save on your electric bill, use the cheaper off-peak rates. Run the dishwasher at night before bed instead of right after a meal. Do your laundry and drying in the evening to save more. This also helps your water heater use less power since it won't need to heat water as often.

3. Turn Off Power When No One's Home

Turn off the power when no one is home, especially during times when electricity costs more. Make it a habit to unplug electronics and turn off lights before leaving the house. This will lower your electricity bill and save you money when energy is most expensive.

Have you heard of vampire energy? It's the power some electronics use when plugged in, even if they look like they are “off”. To stop this, unplug things like video game consoles, TVs, and printers when you aren't using them. You can also use a power strip to make it easier to unplug multiple devices at once.

4. Charge Your Electric Vehicle (EV) When Rates Are Low

Just like big appliances, wait for cheaper electric rates to charge your EV. Electric and hybrid car batteries use a lot of electricity, so charging them when rates are low can save a lot of money.

Luckily, some EVs have "intelligent charging." This means you can set them to start charging when electricity is cheaper. You just need to set the system to start charging during off-peak hours, and it will do the rest.

If your EV doesn't have this feature, you can get a smart charger. Smart chargers turn off automatically when peak hours start, so you can still save money by charging at the right times.