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5 Ways to Lower Home Energy Costs

Rising oil and natural gas prices are making it more expensive to keep your home warm​

LSOphoto/Getty Images ​Home energy prices are soaring as demand for oil and natural gas continues to outpace supply. Russia’s war in Ukraine is also putting upward pressure on the prices of heating oil and gas. ​ From February to March, home heating prices nationwide jumped 26 percent, to $4.92 per gallon. Natural gas prices have come down in recent days but are still up 87.8 percent year over year. Americans are shelling out more money to heat their homes, just as they are paying and a bevy of consumer products. At 7.9 percent, , and energy costs are up 25.6 percent year over year, according to the Consumer Price Index for February. ​ Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine. “Over the past 18 months natural gas prices have risen more than 500 percent,” says Lauren Urbanek, senior energy policy advocate at the Natural Resources Defense Council (NRDC). “Fossil fuels are really susceptible to price increases. That trickles down, of course, to the consumer, making people who heat their homes with natural gas and fossil fuels very susceptible to higher heating prices.” ​​ Even with the country entering spring and, eventually, warmer weather, , which has the vast majority of heating oil customers. For budget-conscious homeowners, the good news is that there are ways to save, including the following.​

Reduce your consumption

A surefire way to lower your home energy bill is to reduce your consumption. According to Energy Star, you’ll save 10 percent on your energy consumption for every 10 degrees you lower the temperature in your home. If you have a programmable thermostat, you can set it to do that automatically when you’re at work or asleep. ​ Entertainment $3 off popcorn and soft drink combos See more Entertainment offers >

Weatherize your home​

in energy. Fixing them won’t break the bank. That’s why Urbanek says to weatherize your home by sealing window cracks and gaps with caulk and reduce drafts by installing more or new insulation. That’s particularly true if you live in a house that was built over a decade ago, when energy efficiency wasn’t top of mind for builders. Uninsulated or under-insulated walls and attics can lose a large amount of heat. According to Energy Star, roughly 30 percent of a home’s heating energy literally goes out the windows. “About 80 percent of the housing units in the U.S. were built in 1999 and before. In that case, energy efficiency upgrades are going to be worthwhile,” Urbanek says. ​ ​ If you are in the market to replace your oil or gas boiler, Urbanek says to consider an electric model such as a heat pump. The technology has improved in recent years, with both heating and cooling built into one system. “It’s much more efficient than the gas counterpart, which saves energy over time and it’s cleaner to run,” Urbanek says. ​ ​ Older adults on a fixed income who are having trouble paying their utility bills, replacing a furnace or making energy improvements to their home can get financial help through the government’s Low Income Home Energy Assistance Program (LIHEAP). The program is funded on the federal level but administered by the states. To find out how to apply in your state, .​ ​ AARP NEWSLETTERS %{ newsLetterPromoText }% %{ description }% Subscribe , you can monitor the price of oil and place an order when the cost comes down. That requires you to stay on top of oil prices and your oil tank, but it can go a long way in saving you money. A rule of thumb: Don’t wait past a quarter of a tank to place your oil order, Williams says. That gives you enough time if there are any delays in getting a delivery out to your home. ​ ​

Use a smart thermostat ​

let you automatically set your temperatures based on when you are in the home and active. A smart thermostat takes it to the next level by connecting to the internet. That means you can control your heating online or from a mobile app. Some smart thermostats even have built-in artificial intelligence that learns your behaviors and can create more efficient heating schedules for you. Energy Star has a list of smart thermostats that are approved by the government agency on its website.​ ​ Donna Fuscaldo is a contributing writer and editor focusing on personal finance and health. She has spent over two decades writing and covering news for several national outlets, including The Wall Street Journal, Forbes, Investopedia and HerMoney.​​ ​ Donna Fuscaldo is a contributing writer and editor focusing on personal finance and health. She has spent over two decades writing and covering news for several national publications and websites, including The Wall Street Journal, Forbes, Investopedia and HerMoney. More on home-family AARP NEWSLETTERS %{ newsLetterPromoText }% %{ description }% Subscribe AARP VALUE & MEMBER BENEFITS See more Health & Wellness offers > See more Flights & Vacation Packages offers > See more Finances offers > See more Health & Wellness offers > SAVE MONEY WITH THESE LIMITED-TIME OFFERS