Why is My Electric Bill So High in 2024?

how-to-read-your-electric-bill

Are you wondering, why is my electric bill so high? Every single month, residential consumers and small business owners receive their regular electric bill. Budgeting for expenses has been increasingly difficult, especially when it can seem like your 2024 electric bill is high for no reason. There are many reasons why you might be seeing such a large change in your electricity charges month to month. Certain factors like your utility provider rates or even your own usage can contribute to why you would question why your electricity is too high. In this article, we are going to discuss what can make your electric bill so high, and also provide a few solutions.

Here at The Energy Professor, we want to give you the information you need to not only save money on your energy bill but to also become more energy efficient. We hope find this post helpful! And makes it easier for you to know more about why your electric bill is so high. Be sure to also check out our one of a kind energy savings calculator!

The Energy Professor Electricity Rate Check Tool 

Why is My Electric Bill So High in 2024?

how-many-watts-to-run-a-fridge

So, why is your power bill so high? The most common reasons why your electricity bill is so high always have to do with outdated appliances, insufficient insulation, high utility electricity rates, and inefficient thermostats. It’s also important to factor in the state you live in while comparing these factors. Many homeowners, even us are experiencing our electric bill skyrocketed. We want to help you find ways to help reduce the electric bill.

It’s also important to note that electricity bills can fluctuate vastly, sometimes by hundreds of dollars from month to month, which makes it hard to pinpoint the exact reason. To help you save money, we’ve compiled the most common reasons why your electricity bill is too high.

What Are Causes of High Electricity Consumption 2024?

  • Vampire appliances
  • Outdated lightbulbs
  • Inefficient thermostat use
  • Older appliances
  • Insufficient insulation
  • Utility provider rates

This list is a great starting point to start investigating your own bills. If you have recently seen a spike in electric bills, be sure to check these common causes first. And, to help you understand what causes high electric bills, let’s discuss each of these topics in depth.

Related Post: Complete Guide to Electric Delivery Vs Electric Supply

#1 – Vampire Appliances – A High Electric Bill 2024

why-is-my-electric-bill-so-high

A big component of what causes electricity bills to be high is vampire appliances. What is a vampire appliance? It is an appliance consistently plugged in that continues to draw power even though it is turned off. This is common for many newer appliances that truly power down when turned off. Most devices default to a standby mode to be more easily powered back on when needed.

High Electricity Usage Devices When Figuring Out What Runs Up Your Electric Bill the Most: 

  • Dryer
  • Washing Machine
  • Microwave
  • Lighting devices
  • Dishwasher
  • TVs

If you’re looking for a solution as to what makes your power bill high, a good start would be monitoring these devices. If you want more control over your high usage of electricity, you could put appliances on power strips and flip the strips off when they are not in use. That ensures that no power is being drained from the device since it is completely turned off.

Related Post: What is Vampire Power?

#2 – Outdated Lightbulbs – What is Causing My High Electric Bill?

why-is-my-electric-bill-so-high

Inefficient lightbulbs are a surprisingly large contributor to why your electric bill is really high. On average, a typical household room has 4 – 5 lightbulbs in it. When all are turned on, the cost of the usage adds up very quickly if they are not all LED lightbulbs. LED lightbulbs are a newer type of bulb that is slightly higher upfront, but can save you a ton of money.

LED Lighting Guide for Home 2024

Types of LED Bulbs for a Bedroom:

  • Bedroom Brightness Level – 1,500 to 4,000 Lumens
  • Color Temperature: 2700-3000K

Types of LED Bulbs for a Living Room:

  • Living Room Brightness Level – 1,500 to 3,000 Lumens
  • Color Temperature: 2200-3000K

Types of LED Bulbs for Bathroom or Kitchen:

  •  Brightness Level – 4,000 to 8,000 Lumens
  •  Temperature: 2700-5000K

There are certain types of LEDs that can last up to 25,000 hours, which makes them 90% more efficient than incandescent bulbs. So, if you’re wondering what runs up your electric bill the most, count how many lightbulbs are in your house and you might have the answer!

Related Post: How to Choose the Best LED Lightbulb

#3 – Inefficient Thermostat Use – How to Lower Your Electric Bill 2024

why-is-my-electric-bill-so-high

Most consumers or small business owners don’t think twice about adjusting the temperature inside if it gets uncomfortable. Typically, if those thermostat changes are monitored well, it won’t appear to be much of an issue. But, if you’re a person who sets it and forgets it, you may be costing yourself a lot of money. If you’re wondering why did your electric bill go up in the summer months, it could be that you were cooling your home while nobody was inside of it.

How low should you turn down your thermostat at night?

  • Typically, you start seeing the most savings by setting back your thermostat by 7-10 degrees. At night in the summer, set your thermostat at least 7 degrees higher than during the day. In the winter, set it at least 7 degrees lower than during the day.

Your electric bill could be really high in extreme weather months due to just forgetting to adjust the temps when you weren’t at home. Some homes have the ability to install smart devices to automatically adjust the temperature according to the time of day. Therefore, it keeps you from using too much electricity to heat or cool a space with nobody inside of it.

Related Post: How to Save Money on your Thermostat

#4 – Outdated Appliances – What is Making My Electric Bill So High?

why-is-my-electric-bill-so-high

If you’re wondering what causes electricity to increase or decrease, your outdated appliances could be to blame. If you’ve been running that outdated washer or old refrigerator more this month than last month, it could be causing your electricity to be too expensive. This is for a rather simple reason. New appliances are made to be more efficient, and typically, ENERGY STAR certified. These appliances are guaranteed to save energy by anywhere from 10-50% of regular appliances.

Next time you get a really high electric bill, make sure to inspect all of your appliances for the ENERGY STAR certification.

Related Post: What is Green Energy?

#5 – Insufficient Insulation – What Causes a High Electric Bill?

why is my electric bill so high

Another silent culprit of what causes energy bills to be high is a home with insufficient insulation. One of the largest components of your energy bill comes from the way we heat or cool our homes. Therefore, if you have to use air conditioning or heating, you could be just throwing your money away if it isn’t properly insulated.

Outdated windows and larger drafter places such as basements or attics are common causes of high electric bills. Both of these issues allow air to escape your house.

Related Post: The Best Time to Do Laundry 

#6 – Utility Provider Rates

what is the electric bill

If you’re wondering why your power bill is so high, it might be straight up the cost of energy with your provider. Every single year the cost of energy has risen, and it is expected to skyrocket in price in the coming years. If you’re lucky enough to live in a deregulated market, you may be able to search the market for a cheaper energy option.

If you are stuck with your energy provider in a regulated energy market, you unfortunately have no choice and have to watch your personal consumption. There are also options to switch your home to renewable energy resources to help with very high electricity consumption.

If you want to see how much money you will save switching your energy provider, you can use our Electricity Rate Check Tool. It automatically checks the rates you currently have, and what you can save by switching with The Energy Professor!

Related Post: Complete Guide to Electric Delivery Vs Electric Supply

Tips and Tricks for Reducing a High Electric Bill

Just like mentioned above, if you’re unable to switch your energy provider, you might need some tips and tricks to lower your high usage of electricity. That’s why we’ve put together this small list of some of our best tricks to keep that energy bill low!

How do I reduce my high electric bill?

  • Call utility provider about discounts
  • Install smart power strips
  • Check the temperature of your freezer and fridge
  • Fix all poor seals on windows and doors
  • Make sure all of your bulbs are LED lightbulbs
  • Replace all filters in-house
  • Find and fix leaks
  • Perform an energy audit on your house
  • Do only full loads of laundry with COLD water

Why Did My Electric Bill Double?

Aside from the factors listed above, there are some things that are out of our control that have resulted in the electricity bill doubling from the previous months. If you are wondering why did my electric bill double 2024 then you are not alone. Below are some reasons electric bills have doubled.

  • Supply-chain issues from the ongoing pandemic that began in 2020
  • Geopolitical conflict
  • Extreme weather events
  • Increase in leisure travel
  • Return of in-person work

All of these factors have increased the demand for energy and thus, raising the prices.

Why is My Electric Bill So High FAQ

Q: Why Do I Have High Electricity Bills?

A: The most common reasons why your electricity bill is so high always have to do with outdated appliances, insufficient insulation, high utility electricity rates, and inefficient thermostats. It’s also important to factor in the state you live in while comparing these factors.

Q: Why did my electric bill go up in the summer?

A: It could be that you were cooling your home while nobody was inside of it. Your electric bill could be really high in extreme weather months due to just forgetting to adjust the temps when you weren’t at home. Some homes have the ability to install smart devices to automatically adjust the temperature according to the time of day. Therefore, it keeps you from using too much electricity to heat or cool a space with nobody inside of it.

Q: Will electricity cost more in the future?

A: In 2024, residential consumers are projected to experience a surge in electricity rates, with the Energy Information Administration (EIA) forecasting an increase to 15.24 cents per kilowatt hour from 13.72 cents in 2021, marking the highest rate in recent years. It’s worth noting that the cost of electricity has historically risen over time due to inflation and the increasing demand for electricity.

Q: What runs your electric bill up the most?

A: There are several factors that can contribute to high electric bills, including heating and cooling, appliance usage, lighting, and electronics.

Do you Need Cheaper Electricity?

If you’ve taken the time to understand the information on your bill and discovered you’re paying more than you’d like for your electricity, have you looked around for a cheaper deal? The Energy Professor has a wealth of information on ways to save on your utilities, including details of top deals that could significantly reduce your monthly or quarterly electricity bills.

We hope you found this article helpful! If you are looking for ways to increase the energy efficiency and sustainability in your home be sure to take a look at all of the latest renewable energy options in your area. The Energy Professor helps residential and small business owners find qualified energy suppliers in New YorkNew JerseyPennsylvania, Texas, Ohio, Maryland, Illinois, and Massachusetts