In parts of Canada this summer, we have seen record temperatures almost to the point of being able to fry an egg on the sidewalk, well almost! It’s been blistering hot and trying to stay cool has been a real challenge. Many families have been running their air conditioning non-stop making it hard to save money on electricity bills. Who really wants to spend money on cooling when there are so many other demands for your money.

However, running your AC non-stop doesn’t come without a price. If you have received a recent electricity bill, you may have lost your cool! According to Hydro One your cooling costs could cost up to 60% of your annual energy use. Many of you may be unwittingly and unknowingly over-spending on electricity and not saving money.

The cost of electricity has sky-rocketed in most urban centers and it is not expected to get any cheaper. So how do you run the AC, stay cool and save money? You’ll need the right technology, an efficient system and good habits.

Here are 4 tips to help you to cool down this summer without breaking the bank:

1. Buy a Smart Programmable Thermostat. Consider a 7 day unit because your needs will differ weekdays versus weekends. Units range in price but typically cost between $100 – $200. Most are easy to install and worth the small investment.

2. Manage your daily cooling needs. During the day when energy costs are the highest, set your temperature to 74-76 degrees. And after 7pm when energy costs are the cheapest, reduce your temperature to 72 degrees for a good night’s sleep. And if you go away for the weekend, and your home is empty, adjust the temperature.

3. Consider updating your AC. Old appliances like old AC units are less efficient than today’s models which are built better and operate using less kilowatts. If your AC is over 10 years old, now might be a good time to replace it. Unexpected repairs could be really costly, parts might be hard to find and you will be running inefficient and antiquated technology.

4. Shut your blinds and vents. Don’t forget to shut your blinds or curtains to keep rooms cool. It’s also smart to close vents in rooms you don’t use. And do shut the vents in the basement. You don’t need cooler air downstairs unless you have tenants.

Most of us live or can’t wait for summer to arrive each year. Sometimes Mother Nature isn’t kind and serves up cool temperatures and rain. But this year, she has given us a healthy dose of hot, dry days and it may not let up in September. So drink plenty of water, stay in the shade and soak in this beautiful summer!