If you're looking to add some bucks to your wallet each month, there are some simple tips to save on your electric bill.

You may not know it, but part of your electric bill pays for an expert to come out to your house and perform a free energy audit. Step one to saving money: take advantage.

"Contact the local utility, the one that they're paying, and they will come out with a list of things that they can do themselves," says Greg Massing.

Massing is an expert on energy-saving homes and he says simple improvements around the house can save about ten percent on your energy bill; things like insulating your water heater, caulking windows, and sealing outlets.

If you're looking to knock even more off of your energy bill, there are some energy saving investiments that will end up saving you big bucks in the future.

Solar panels are the future for energy production in sun-blessed states like Florida. Massing says the government provides huge rebates and tax breaks to encourage homeowners to make the switch.

A photovoltaic solar panel for your home would cost you about $42,000, but that's before the local, state, and federal incentives.

"You'd be down to $9,400 as the actual cost," Massing says.

According to Massing, the most cost efficient energy saving investment is a solar water heater. They run about $4,500, but Uncle Sam will knock the price down $2,000.

"You're going to eliminate 25-35% of your electric bill right there," Massing said.

The average power bill is about $200 dollars a month.

At that rate you would pay off the unit in three and a half years.

Also, power companies like OUC and Progress Energy have there own set of incentives for switching to solar power, including rebates on installation.

They'll even pay you each month for producing your own electricity.

Then there's the benefit of recently passed Amendment Three.

If you make energy saving improvements to your home, they won't be added to your taxed property value.

If you were to sell the home, your energy saving improvements would be reflected in the sell price.

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