Like everything else around us, inflation has affected our consumption of energy. There has been a rise in the cost of energy by 3.75% per year since the year 1957. Costs won’t stop going up, and it can be concerning especially if you don’t see your wages increasing fast enough to meet the demand of these costs. But there are some things you can do to protect yourself.
Drive Less
You can protect yourself from energy inflation by driving less to get around. This helps reduce cost of fuel (and car maintenance). Alternatives for driving are to ride public transportation when available, carpooling or rideshares, or simply walking or biking to work. If walking or biking is something you can do because of proximity to your workplace, not only does it save you the cost of fuel, but it also helps your health!
Produce Renewable Energy
Producing renewable energy protects you from energy inflation. If you are a homeowner, a great way to do this is to invest in solar panels. Not only is it environmentally friendly, but solar protects you from price increases as utility rates in your area rise. With solar panels, utility bills are decreased significantly, if not completely erased. In some areas, there may be added incentives such as being paid for the extra energy your solar produces to put back into the grid, as well as grants, rebates, and financing options to help with the cost of purchasing the solar panels.
Be Energy Efficient
If solar panels are out of budget, a smaller way you can protect yourself is to make sure your home is more energy efficient. Upgrading your heating and cooling systems in your home as well as more energy efficient appliances and changing out light bulbs can help with the energy your home consumes, decreasing utility cost. Changing these out one at a time costs less than the upfront investment of solar and can still protect you from cost in the long run.
The best way to protect yourself from energy inflation is to start small and start now, especially if you don’t have the money to afford big changes. Changing small items in your home that are energy suckers can save you money, while not costing much to do. Over time, these small changes will lead to bigger protection from the rising costs of energy.
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