Paul Favret – How Can Technology Prevent Soaring Energy Bills?

The prices of everything in the market has surged; however, nothing is higher than the sky-rocketing costs of the basic need of all people-energy. According to Pacific Gas & Electric, the biggest power provider in California, natural gas prices this winter hiked up to 90% from last year because of global stifled production. According to reports issued by the Bureau of Labor Statistics, the prices of electricity in January jumped by 11% since last year. The major reason for the surge is because of the interruptions caused by the coronavirus pandemic.

Paul Favret is a strong name to reckon with in the oil and gas industry in the USA. He is the CEO and Founder of Source Energy LP. In the past, he has previously served as the Chief Executive Officer at Aspect Energy. According to him, social media apps like Twitter and Nextdoor are filled with thousands of consumers complaining about natural gas and oil prices. Some have even paid bills that have gone up to $900 per month. This cost is the same as buying a new smartphone every month.

In his opinion, technology can help combat these rising bills that consumers find really challenging to bear these days. There are simple yet powerful technology tips that consumers can use to save on their energy bills every month. Now, the question is, what are these tech tips?

Adjustments to smart thermostats help you save a lot of money on energy bills

Consumers can use their smart thermostats to control their gas bills. They can be programmed to turn off devices and appliances at specific hours to prevent energy wastage. This simple gesture will help you save a lot of money on your bills. In fact, if you are smart enough, you can actually reduce bills by 1 to 5 times. Tech is helpful as you do not have to spend money to use it wisely to save on your energy bills. Also, when you connect to Texas energy rates they are way more affordable and will help with lowering your energy bills.

Improper insulation and high energy bills

High energy bills take a toll on the consumer’s budget. Another big culprit that boosts up your energy bills is improper insulation in your home. It is prudent for the homeowner to take a tour of the house and check the whole place for insulation leaks. They should be fixed promptly to save on energy bills every month.

According to Paul Favret, in order to combat the high surging energy costs, it is prudent to be smart with technology and invest in products that save energy. There are plenty available in the market today, and like making the adequate setting change in the thermostat of your home, you effectively are able to control surging energy bills.

At the same time, it does pay off to call in a good contractor and inspect your house for insulation leaks. The costs of fixing them are one-time, and if you compare them in the long run, it is much cheaper than incurring high energy bill costs every month!