Advertisement
Australia markets closed
  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     
  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     
  • AUD/USD

    0.6501
    +0.0001 (+0.01%)
     
  • OIL

    82.80
    -0.01 (-0.01%)
     
  • GOLD

    2,321.00
    -17.40 (-0.74%)
     
  • Bitcoin AUD

    99,117.81
    -3,502.20 (-3.41%)
     
  • CMC Crypto 200

    1,389.23
    -34.87 (-2.45%)
     
  • AUD/EUR

    0.6070
    -0.0000 (-0.01%)
     
  • AUD/NZD

    1.0948
    +0.0006 (+0.06%)
     
  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     
  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     
  • FTSE

    8,040.38
    -4.43 (-0.06%)
     
  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     
  • DAX

    18,088.70
    -48.95 (-0.27%)
     
  • Hang Seng

    17,324.01
    +122.74 (+0.71%)
     
  • NIKKEI 225

    37,818.11
    -641.97 (-1.67%)
     

Save $1,000 on your energy bill with one step

Pictured: Woman checks energy bill, jar of Australian cash suggesting savings. Images: Getty
Are you guilty of any of these bad energy habits? Images: Getty

Australians are wasting $1,000 in energy costs a month due to poor air conditioning practices, despite nearly all Australians becoming more concerned over energy prices.

The new research released on Tuesday found that only 15 per cent of Australians believe their home is energy efficient, while 96 per cent are concerned about growing energy prices.

According to energyrating.gov.au, the average medium-sized air conditioning unit will cost more than $10 a day when it’s left on for 24 hours, costing $300 a month and nearly $1,000 over the entire summer.

And the Mitsubishi Electric Australia Home Trends research found that many Australian households admit to forgetting to turn their air conditioning off (23 per cent), or even leaving the expensive systems on while the windows are open (22 per cent).

ADVERTISEMENT

Additionally, 20 per cent of Australians have left the system on when no one is home to keep the house cool, with men (25 per cent) more likely to do this than women (18 per cent).

How to save on air conditioning

According to Finder research, the ideal temperature for an air conditioner to be set at is 25°C in terms of both comfort and price.

The average Australian, however, sets theirs at 22°C, costing around $187 more over the month.

And similar research from Mozo found that around 42 per cent of Australians would keep the air conditioning on overnight just to sleep beneath a doona - costing the average Australian household an extra $436.80 over the 12 weeks of summer.

Pictured: Chart explaining the cost of several expensive air conditioning habits. Source: Mozo
Source: Mozo

In fact, setting your air con just 1°C higher can save you 10 per cent, and keeping the blinds closed will also help keep the house cool.

Leaving the air con on when you’re not at home will also cost an extra $100.

But opening up the house as the sun sets is another easy way to cut back on air con use, as the cooler air will often be sufficient.

Bad air con habits hurting the planet

Billionaire businessman Richard Branson has also sounded the alarm over the air conditioning sector and its lack of sustainability.

In January this year, Branson said the US$100 billion market hasn’t evolved since its invention, and is only 14 per cent energy efficient.

“Worldwide, by 2030, extreme heat could lead to a $2 trillion loss in labor productivity. India’s economy alone stands to lose $450 billion (not to mention the 200 million Indians exposed to dangerous heat conditions each year),” he explained in his blog, calling for more innovation.

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.