With Heating Season Ahead, Now is the Time to Look for Cost Savings

Ohioans annually spend a significant portion of their income on household energy costs yet most don’t look for savings opportunities available to them.

According to a 2018 Ohio Utility Rate Survey conducted by the Public Utilities Commission of Ohio, Ohio residents spend an average of $2,000 - $3,000 annually in household energy expenses.

This range is slightly higher than national trends, Eaton Family Credit Union CEO Mike Losneck said. According to the U.S. Energy Information Administration, households in the U.S. use an average of 77.1 British thermal units (BTUs) each year, costing about $1,856 annually.

Heating, air conditioning and water heating account for more than 74 percent of the energy consumed per household nationally and 60 percent of the household energy dollars spent, the U.S. Energy Information Administration reports. With its population, industrial economy and seasonal temperature ranges, Ohio ranks among the top 10 states for total energy consumption.

Losneck said heating costs are more dramatic in Ohio than the national average. According to the U.S. Energy Information Administration, heating accounts for 15 percent of each U.S. household’s energy expenditures. In Ohio’s residential sector, nearly 7 out of 10 households use natural gas to heat their homes and accounts for almost 30 percent of the state's total consumption.

The U.S. Energy Administration data mirrors Ohio and other states because it costs more money to heat than cool. Midwestern states spend $1,695 per year in energy expenses with $681 dedicated to heating costs, data shows. Meanwhile, households in Southern states spend $1,917 per year in energy expenditures with $465 attributed for heating costs and $392 for cooling.  

The Ohio Consumers’ Counsel calculates Ohioans spend more than 7 percent of their household income on energy costs and encourages consumers to make small adjustments at home to reduce the financial burden.

“With Winter in Northeast Ohio just ahead of us,” Losneck said, “now is a great time to start working to save on energy costs.”

Losneck said the Ohio Credit Union League offers consumers these helpful tips:

• Conduct an energy audit. Conduct a professional or DIY energy audit on your home to identify savings opportunities.  
• Use the sun. Open the curtains during the day to allow sunlight to heat your home and close them at night to prevent losing heat through the windows.
• Check window coverings. Cover drafty windows with a heavy-duty, clear plastic sheet on a frame during the cold winter months. Make sure the plastic is sealed tightly to reduce infiltration.
• Be smart with the thermostat. Adjust the thermostat as low as is comfortable when you’re at home and awake. When away or asleep, turn back the thermostat 10 - 15 degrees and save around 10 percent a year on your heating and cooling bills.   
• Spot and seal leaks. Seal any air leaks around utility cut-throughs for pipes, gaps around chimneys, recessed lights in insulated ceilings and unfinished spaces behind closets.
• Tune-up. Schedule a routine tune-up on your heating system to ensure peak performance.
• Clean air ducts. Clean your air ducts to ensure fresh, allergen-free air flows through your home.
• Go LED. Use LED lightbulbs and holiday light strings to reduce the cost of lighting throughout the year and seasonally for decorating your home during the winter holidays.