I save $200 a year on my electric bill, and I don’t have to forego central air conditioning or sit in the dark at night. I’ve been preaching to friends to check out the electric company’s time of use (TOU) rates, and, so far, I have yet to sell anyone on this amazing way to save.
The low-down: during the weekday when electricity demand is high, we pay MORE than a regular customer. At night and on weekends and holidays, when demand is lower, we pay far LESS. So much less that from 7 pm to 7 am we pretty much can air condition, de-humidify, launder and dry to our hearts’ content.
Last bill: On peak we used 127 kWh at .27 per kWh = $34.00. Off peak we used 336 kWh at .05 per kWh = $17.00. The electric company sends us a summary every year of what we would have paid using the standard rate vs the time of use rate. This past year we saved $200. using time of use AND we had ample air conditioning, dehumidified the basement, and kept the lights on at night! We just did everything after 7 pm.
I know my electric company isn’t the only one who offers this – just google your local company and “time of use rate” and see if it’s available. In Wisconsin, see http://www.we-energies.com/residential/acctoptions/tou_wi.htm. Drop me a comment if you are on a program like this. What kind of savings do you see?