Controlling your costs – Energy conservation

At this time of extreme difficulties and of high prices it is important to look at ways of helping to keep our costs under control.  The major goal of investment is to ensure that each month a person has some money that goes into savings which are needed to meet future unexpected expenses.  Controlling our costs then helps us to be able to meet the goal of saving each month.

In this first article I want to focus on energy conservation which everyone does not seem to embrace.  Many persons still do not use energy efficient bulbs presumably because they are so much more expensive than regular bulbs ($300 versus $30).  If one buys a 25 watt energy efficient bulb which gives the same light as a 100 watt regular bulb and use it for 4 hours a day, the savings would be (100w-25w) x 4hrs x 30 days for a savings of 9 KWH per month.  Based on the November rates of JPS -$19 for the first 100KWH and $23 thereafter, the savings would be between $171 and $207.  Thus in one and a half months the bulb pays for itself. Too often in looking at our buying decisions we consider the initial cost instead of looking at the long term picture.

Another area to consider is your refrigerator; I had a refrigerator which although small was very inefficient and was using 5 – 6 KWH per day.  I bought a new one which was bigger than my old one and at the time cost $35,000.  This new fridge used 1-2 KWH per day for a savings of 4KWH per day or 1,460KWH per annum.  At current rates the savings would be between $27,740 and $33,580 which means that the fridge pays for itself between 13-15 months.

Other ways to conserve include ironing more clothes at a single time rather than one or two at a time and restricting the amount of time that the electric heater is on (if you have one).  Unplug or turning off the surge protector on your appliances (TV, DVD, Computer) as even though these items are turned off they continue to consume electricity which enables them to be turned on by remote control.

Don’t forget to contact the JPS office for more helpful tips in conserving energy.  It helps you in managing your budget and helps the country to reduce the level of oil imports needed each year.

Feedback Question:  Do you think that energy conservation helps the country or should we consume however much we want?

Tags: conservation, costs, economy, energy, environment, Finance, green, jamaica, recommendations, saving, tips