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Tankless water heaters won’t increase your electric bill. Since tankless water heaters are more efficient than tank water heaters, installing one in your home will actually allow you to save money on your electric bill. The Department of Energy estimates you can save $100 or more each year with a high-efficiency tankless water heater.

Under-cabinet lighting is generally energy-efficient, especially when using LED technology. Compared to traditional ceiling lighting or older bulb types like halogen and incandescent, LED under-cabinet lights consume significantly less energy, which helps reduce operating costs. This applies to various forms, including strip lights, puck lights, and built-in fixtures. For an option that uses no electricity, consider battery-operated puck lights. While they require periodic battery replacements, they have the added advantage of functioning during a power outage.

For more complex electrical projects, it’s often most efficient and cost-effective to hire an electrician rather than trying to figure it out yourself (and risking electrical problems). Electricians know exactly what a project requires, and can often find supplies or parts for cheaper than the average homeowner. That can save money compared to going it alone.

Smart light switches are designed to be compatible with most lights and traditional home wiring, but there are several key factors to check. First, verify your home's wiring, as some smart switches require a neutral wire to operate, which may not be present in older houses (often built before 1985). Always check the wiring requirements for the specific model you choose. Second, consider your light bulbs; while smart switches work with almost any light, using a dimming feature requires dimmable bulbs, such as dimmable LEDs. Finally, ensure you have the necessary network connection. Most smart switches need a Wi-Fi connection for remote control, but some older models might use other standards like ZigBee, which would require a compatible hub.