Moving into a new apartment is indeed a joyful experience, but it also comes with implications, and among them, the search for an electricity supplier is of utmost importance. With so many options available, choosing the best energy company for apartments could be overwhelming.
Choosing the right energy company for your apartment will not only ensure a reliable power supply but also help you save a good amount on your energy bills.
However, this process includes understanding average apartment energy costs, energy plans for apartments, and what are the important factors to consider while choosing the best energy company for apartments. Read this guide to get answers to all these queries.
What Is The Average Energy Cost Of An Apartment?
It is obvious that the smaller the home, the less energy it will use. However, it mainly depends on your power consumption needs, but in general, an apartment has less energy requirment than a house.
According to some statistics, the average power requirement of a 900 sq. ft. apartment in the US is between 400 and 500 kWh per month. This means you will need 0.45 kWh of energy per sq.ft.
Similarly, the average energy rate is between 10 and 40 cents, which varies depending on your State. For example, in Washington, it is 10 cents per kWh while in Hawaii it is 43 cents per kWh
So if we consider an average of 25 cents per kWh, the monthly bill of a 900 sq. ft apartment will be
Total electricity consumed in kWh X Price per kWh
500 X $0.25 = $125
Below discussed are energy requirements and monthly energy costs for different sizes of apartments.
Energy cost of single-bedroom apartment
The average area of single-bedroom apartments in the US is 514 sq. ft. So if we need 0.45 kWh per sq. ft as discussed above, your one-bed apartment will need 230 kWh of power monthly which will cost around $57.
Energy cost of a Two-bedroom apartment
Two-bedroom apartments in the US usually have an area of 760 sq. ft. This translates into their monthly power requirements of 342 kWh, which costs around $86.
Energy cost of a 2000 sq. ft apartment
The average power requirement of a 2000 sq. ft. living space is 900kWh per month, but this also depends on your location.
For example, in Louisiana, the monthly electricity requirements are 1230kWh while in Hawaii it is 514kWh. So taking 900kWh per month as standard the monthly energy cost of a 2000 sq. ft apartment will be $225.
How To Choose The Best Energy Company for Apartments?
Choosing a low-cost energy provider for your apartment could be confusing as this involves probing various parameters. Below discussed are some important points that can help you select the best energy company for your apartment.
Calculate your power needs
Understanding your power consumption is the first step to choosing an energy company. The above discussion provides a general overview of an apartment’s power needs. However, for a more specific approach, you can use your past 12-month energy bills to calculate your average monthly power usage.
Analyze the promotions
The next step is analyzing the offerings. Different companies offer different promotions to capture customers. These could include free vouchers, gift cards, or even cashbacks. Further, some companies also let you use the services free for a specific period.
Get these promotions from various power providers and choose what seems best to you.
Choosing the Plans
Apartment living is always vulnerable to transition. So choosing a fixed-rate plan is not recommended. Though with such plans, the monthly bills will be less, subscribing to such a plan means you are bound to pay a fixed monthly amount for a fixed time period that usually ranges between 24 to 36 months. So, in case of cancellation you will be liable to pay a huge cancellation fee.
Consider the reviews
Any company’s reputation is an important factor when choosing it. Investigate this by getting help from previous customers' reviews. This will give you an idea about the company's customer service.
What Is The Best Apartment Energy Plan For Apartments?
Many companies offer plans that seem lucrative but are complex, making it difficult to understand them. Eventually, you end up paying more in terms of monthly bills and cancellation fees.
This makes it crucial to analyze the offering carefully and choose what best meets your needs. A detailed discussion of different energy plans for apartments is given below, read to get a comprehensive understanding of them.
Fixed Rate Plans
As the name suggests, these plans come with a fixed rate per kWh of energy consumed. This means you are not vulnerable to energy price hikes in the market and you will only pay a fixed amount per kWh.
However, though appealing, these plans are bounding. You have to sign a contract for a specific period, and if you terminate that, you have to pay a cancellation fee. Further, if the market energy prices become low, with fixed-rate plans, you cannot reap these benefits.
Variable rate plans
This plan is simply the opposite of the fixed-rate plan. Your per-kWh energy consumption is calculated based on market power prices.
One potential benefit of this plan is that you are not bound by any agreement and you can change your energy supplier whenever you want. However, you will always be vulnerable to electricity price hikes.
Green Energy Plans
In this plan, you receive power produced by renewable resources, such as windmills or solar power. These plans help you ensure zero carbon footprints. However, due to the high upfront costs of renewable energy installations, the prices per kWh could be slightly higher than conventional grid power.
No deposit energy plans
When you apply to an energy company, they check your credit history, and you need to pay a fixed deposit to use the services. Nevertheless, if you want to skip this process, you can choose no-deposit energy plans.
These plans do not involve any credit investigation, and you do not have to deposit any money. However, the overall price of per kWh electricity will be higher than that of other plans.
How To Find Cheapest Energy Company For My Apartment?
By considering only a handful of factors, you can easily find the cheapest energy company for your apartment. First and foremost, go for an equivalent comparison of various companies. This means analyzing the type of energy, whether it is grid-powered or renewable and what are their respective rates.
Next, compare the plans to see what different companies offer. For this, compare the per kWH rates of each company in the above-mentioned plan brackets. Ensure to consider the customer acquisition offerings and incentives, as they will further reduce the per kWh cost.
Further you can look for the nature of bounded agreements. This means what will you have to pay to different companies if you can cancel their fixed price agreements, what is their credit checking procedure and how much do you have to deposit?
Lastly, customer service is of utmost importance. This includes overall payment methods, company reviews, outage backups, and so on.
Why Should I Compare The Energy Companies For My Apartment?
In some states of the US, the energy market is free. This means you are not bound to grid power and can choose a power supplier according to your preferences. So, instead of opting for a company inherited from your landlord, doing a comparison on your own can help you enjoy various benefits.
- Firstly, it helps you save a significant amount on your monthly energy bills.
- Further, by finding a reliable power supplier, you do not need to worry about power outages as they ensure a continuous supply.
- Lastly, you can find a plan, that can align best with your needs and goals.
How to Save Electricity Costs in the Apartment?
Utility bills, especially energy bills consume a significant portion of our monthly house budget. Further, in the case of rental apartments where you have to pay for your space, hefty energy bills could further add to your pain. So to help you with this, below are some tips that can effectively help you lower your energy bills.
- Choose the appliances recommended by ENERGY STAR. This is a government initiative that carefully considers different electric appliances and recommends the most environmentally friendly and energy-efficient products.
- Go for an energy audit of your home. This involves checking insulations to ensure there is no heat or cold leakage as these appliances consume the most out of your total power consumption.
- Use the appliances according to manufacturer guidelines. For example, the air conditioners should be operated at 24°C. Temperature below this almost doubles their power consumption.
Though the above-mentioned tips are good for saving energy. But if you want significant cuts in your energy bills or want to get completely rid of them, shifting to solar power is a wise decision. However, there are some concerns about their upfront costs, but BLUETTI offers a PRICE MATCH GUARANTEE for their products which ensures the best prices.
Further, most of the BLUETTI products qualify for a Federal Tax Credit, which can help you save significant amounts in terms of initial investment. Below are two top solar backup options for apartments. You can review them to choose what best suits your needs.
BLUETTI AC200P + 3*PV200D
This 2000W output capacity pure sine wave inverter with a 4800W surge could be the best solution for your apartment's power needs, either to use as a power backup or to go completely off the grid. With its 17 different outlets, it is compatible with all your apartment appliances.
Its 2000Wh LiFePO4 battery offers 3500+ lifecycles. This means with one lifecycle each day its shelf life would extend more than 10 years. Further, to ensure you never run out of power even on cloudy days, AC200P supports 7 different charging streams including solar, AC, car, Lithium battery, and solar + AC.
This cost-effective, eco-friendly, and gas-free unit can run all your apartment appliances whether it's a 5000BTU air conditioner, electric grill, or refrigerator. Additionally, it's portable so whether you are at your apartment or camping off the grid, the AC200P could be your reliable partner for a continuous power supply.
BLUETTI EP500 + 3*PV200
For those worried about battery drainage, this groundbreaking system, with its 5120 Wh battery capacity, could be a go-to solution for all your power needs. Its LiFePO4 battery has 6000+ charge cycles, which means a shelf life of more than 20 years.
Further, the unit is integrated with a battery management system (BMS) that ensures smooth and safe operations in all weather conditions, whether it's too cold or too hot.
To make its operation smooth EP500 comes with a dual-core microcomputer and touch screen. So its working can be controlled through Wifi, Bluetooth, and BLUETTI smart app. Lastly, its wheels make its portability highly easy, so its use is not only limited to apartments but it can also serve as a reliable power source off the grid.
Final Words
Each energy company has its own set of offerings. Choosing between them depends on personal preferences. However, considering all the plans and offerings and comparing them carefully is crucial to choosing the best energy company for an apartment.
Further, to completely go off-grid, you can rely on BLUETTI solar backup. They are not only cost-effective and reliable but also provide free electricity for years while ensuring zero carbon foot and a green future.
