Water heating represents between 14-25% of residential energy consumption, making it the third largest energy use in homes, behind HVAC and kitchen appliances.

You can reduce your water heating costs by simply lowering the thermostat setting on your water heater. For each 10 degree reduction in water temperature, you can save between 3-5% in energy costs. Although some manufacturers set water heater thermostats at 140 degrees, most households usually only require them set at 120 degrees.

If you have a water heater that's more than 10 years old, experts tell us that replacing the old unit with a new, 90-percent efficient power vent water heater, like this Vertex by A.O. Smith, will deliver significant savings on operating costs. Standard gas water heaters operate at only 78 percent efficiency or less.

The Vertex uses technology developed in commercial applications. Instead of venting the flue gases up and out of the unit, the Vertex uses a helical internal heat exchanger that completely surrounds the water in the tank, providing a greater heat transfer surface.

Remember: The lowest-priced storage water heater may be the most expensive to operate and maintain over its lifetime. While an oversized unit may be tempting, it carries a higher purchase price and increased energy costs.

We've been talking a lot this week about energy savings in new homes and for remodeling projects. But what if you're not a homeowner? What if you rent an apartment and pay your own utility bills? Trust me, there are simple things you can do to save money and energy!

You've seen these compact fluorescent bulbs - also called CFL's - nearly everywhere these days - and with good reason. If every American home replaced just one light bulb with an ENERGY STAR qualified bulb, we would save enough energy to light more than 3 million homes a year.

CFL's last 8-10 times longer than incandescent bulbs and consumers can save 70-80 percent on each bulb. How? Replace a 65-watt incandescent bulb with a 13-watt CFL!

CFL's have become so popular that manufacturers like GE are now offering different styles that are suitable for using in can lights and even chandeliers. In fact, Anthony Register of Tidal Homes says the new styles mean more savings to homeowners.

VSOT of Anthony Register

"We're averaging saving about $7 per fixture in the house. Now an average house for us is 40 fixtures so that's $280 - and that's real savings. And, it also keeps the inside environment of your house a whole lot cooler."

If you're looking for a way to start reducing your energy bill today, CFL's are a quick, easy replacement that can be implemented in your home right a way.