Calculating a Household Budget with Intelligent Energy Storage Savings

Calculating a Household Budget with Intelligent Energy Storage Savings

Posted: 2016.10.06

By: Kevin Williams

Categories: Money Savings

Personal finance guru Dave Ramsey states that 84 percent of people feel more in control of their money after three months of budgeting. Having reduced electricity bills is one of the main benefits that an intelligent energy storage system provides. When you factor this savings into your overall home budget, you’ll find that your monthly expenses decrease. Here’s how it works:

Saving money with smart energy usage

Intelligent energy storage saves electricity from the grid when you don’t use as much of it and then utilizes the stored energy during times of high demand. For example, it can store electricity at night when all of the lights are off and then use that same electricity to power your lighting system throughout the day. Another way that it saves money is by communicating your energy usage habits to you so that you can modify your behaviors to be more energy efficient.

Savings that accumulates over time

As a result of these opportunities for savings that arise from using an intelligent home energy storage system, you could see an overall reduction in your electricity bills by up to 50 percent. Once you reach that threshold, your energy storage system actually becomes a profit center for your home by reducing your electricity costs over time and thus positively impacting your household’s bottom line.

Integrating energy savings into your budget

A simple way to factor energy cost savings into your home budget entails one of the same principles Dave Ramsey recommends: using envelopes demark all of the areas where you need to spend money every month and then placing that amount of money in them. These can include savings, food, clothing, and of course, utility bills. The next step is to compare how much energy you’re saving with how much you were using before you had an intelligent storage system. Then, you can take the corresponding amount of money out of your “utility bills” envelope and put it into another envelope where you’d prefer to concentrate your finances.

You can repeat this process monthly, quarterly, biannually, annually, or at any time interval that makes sense for your unique situation. The money saved by intelligent energy storage accumulates quickly, and then you can use it however you want.