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Energy-saving tips to save money

More households are going green. But conserving energy isn't just about helping the environment – it can save you money too.

To help you lower your bills, here are some energy-saving tips.

Understand your energy usage

The first step to saving money on energy is to understand how much you're spending – and how much gas and electricity you're using.

You can check your bills and compare your energy usage to other similar households.

Installing smart meters in all homes is part of the government's new nationwide initiative to curb energy usage. Smart meters let you monitor the amount of energy you're using, which can prompt you to find ways to save electricity.

Once you've worked out how much energy you're using and how much it's costing you, there are plenty of simple ways to cut back. For example, if you're not already, you could:

  • use low-energy light bulbs
  • fit dimmer switches for lighting
  • install timers for electrical devices
  • install smart thermostats
  • turn off gadgets, rather than leaving them on standby

Save money and time, and go paperless – it's easy to pay your bills with the HSBC Malaysia Mobile Banking app. Watch this video to learn how to make bill payments on the go in just a few simple steps.

Learn how to save electricity

Check the air conditioning

If you have air conditioning, it can account for a large amount of your electricity usage. Keeping your thermostat at 24°C or higher can help save electricity and lower your bills.

Adjust the fridge temperature

Setting your fridge at 4°C – or the temperature the manufacturer recommends – can help save energy by avoiding excessive cooling. 

Shower instead of bath

Having shorter showers rather than a bath is an easy way to reduce the amount of water you're using, as well as the energy needed to heat that water.

Wash clothes at a lower temperature

Avoid putting your washing machine on high settings. Most detergents work perfectly fine on lower temperatures like 30°C.

You could save even more money by using an eco-wash setting and waiting until you have a full load of washing.

Hang clothes to dry where possible rather than using a tumble dryer.

Use a laptop instead of desktop

If you have both a laptop and a desktop computer, aim to use the laptop when you can. Laptops typically use a lot less energy, as they can run for long periods of time with just battery power. A desktop, on the other hand, must always be plugged in.

A laptop can also give you the freedom to move to cooler areas of your home, so you could avoid having to spend extra money on air conditioning.

Invest in home improvements for long-term energy savings

As well as changing your habits, you can also make positive energy-efficient changes to your home.

Improvements you could make could be to:

  • insulate crawlspaces and air leaks around walls and floors
  • install energy-efficient doors, windows and solar energy panels
  • install programmable thermostats and motion sensors – these are suitable energy management tools to help you use energy only when needed
  • properly seal duct systems
  • improve heating, ventilation, and air conditioning (HIVAC) systems, and lighting systems
  • upgrade heating and cooling systems
  • use energy-efficient appliances
  • ask for assistance from an energy-efficiency expert

If you need some cash to renovate, you may be able to refinance your home. Benefits of this can include lower profit rates and monthly payments, and freeing up cash that you can use for energy-saving home improvements.

Remember, your home could be repossessed if you're unable to keep up with your home financing repayments.

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