Energy Bills: Save £426 with These Three Eco-friendly Switches

Research from personal finance experts, Ocean Finance, has found that a different kind of switching can save you money in the long run... 

Three Smart Home Switches That Can Save You £426 in Two Years 

Whilst there is an initial cost, installing green appliances is worth it. In two years, not only will you have saved the initial cost of £221.36, but you’ll have saved an additional £426.50 on your energy bills, too.

1. Switch to a smart meter and save an average of £73.86 in two years

• Getting a smart meter installed could save you £36.93 per year on gas and electricity, according to the government’s Smart Meter Roll-Out Cost-Benefit Analysis. 
• The report explains a smart meter could reduce your gas bills by 2.7%, which is the equivalent of £17.25 annually, plus a 3% reduction in electricity usage, which equals a saving of £19.68 each year – totally £36.98 when added together. That’s a total of £73.86 after two years.
• Plus, energy suppliers should install your smart meter for free.

2. Switch to smart plugs and save an average of £100.03 in two years

• The Energy Savings Trust found that Brits waste £80 a year on average by leaving appliances on standby. 
• If you forget to properly turn off appliances, you can simply put smart plugs into your wall sockets and then control the power using your phone.
• Smart plugs cost around £59.97 for nine plugs, which should last for a decade if cared for properly. After two years, that’s a saving of £100.03.

3. Switch to smart bulbs and save an average of £252.61 in two years

• Research shows that incandescent bulbs cost around £12.40 to buy and power annually, compared to just £2.05 for an LED smart bulb. Saving £10.35 per bulb, a house with 20 bulbs could save £207 every year by opting for energy-efficient lighting.
• Even with the upfront costs  (approximately £161.39 to buy 20 smart bulbs), after two years you could save up to £252.61 by using smart lighting.