The first step to lowering your electric bill is to be efficient with your power use. You can save a large percentage of money by turning off electronics when you’re not using them, keeping your heating and air conditioning at reasonable levels, and unplugging chargers for devices when they aren’t attached. However, there is only so much that can be gained through these measures. What you really need to do is generate power through an alternate method.
You can use solar panels or perhaps a wind turbine to generate electricity really efficiently at your home. There is a significant cost to getting these items setup initially, but you can end up saving a lot of money in the long run. The amount of energy you can produce directly relates to the amount of money you can save on your electric bill. Even if you can produce enough to easily power all of your electricity uses in your home, you will probably still want to stay attached to the power grid.
To make your alternative energy supply usable in your home, you will have to invest in a power inverter. However, you really want to buy a slightly fancier device called a grid tie inverter. Although fairly expensive, these allow you to connect your extra power into the electrical system of your home and the power grid. This will regulate the distribution of electricity to make sure you don’t pull more from the grid than you need and maintain a steady electric flow.
This not only balances out your self-generated power so that you can use it around the clock, but also allows you to pull in electricity from the grid if you need it. The extra benefit is that you can ‘sell’ electricity back to the grid if you produce more than you use. Usually with some light negotiation and red tape management you can actually get refunded for this ‘returned’ power.