Did you know that a modern TV uses significantly less energy than a TV that's a decade old? Maybe that shouldn't be a surprise, considering how much more power-efficient today's display panels are. According to Perch Energy, the average power consumption of an old TV runs around$54 per year in energy costs. Because LED-backlit TVs and OLEDs consume less power than traditional LCD screens, newer models cost about$32 annually. 

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In large part, the bigger your screen size, the more power your TV requires. But there are ways to attenuate your TV's power consumption every time you turn it on. Here are some settings you can change to save more money on your next electricity bill. Even if it's just tens of dollars that you're ultimately saving, it's still a little less money coming out of your pocket, and that's the goal.

What are EnergyGuide ratings?

First, if you're thinking of buying a new TV, start with the most fundamental source of information: the EnergyGuide label and the ENERGY STAR? rating. Each TV on a showroom floor will display these labels. This information from manufacturers provides a reliable metric for comparing efficiency among TV sets. 

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Ratings range from A to G, with an A rating being the highest and most energy-efficient. However, it is rare to find a TV with an A rating. For a smart TV, a rating of D or E is considered highly efficient. New TVs certified by ENERGY STAR? must have comparable features and be 25% more energy-efficient than competitors. While many energy-efficient televisions may cost more upfront, you'll quickly recover the difference in price through energy savings.

But what about your current TV settings? There are a few you can tweak for better results.

1. Lower your brightness

Brightness on any television is a tricky variable. It can enhance your viewing experience, but sometimes too much brightness isn't worth the money. Over-brightness can distort clarity and contrast, and it also costs extra pennies. Some newer TVs have sensors that detect ambient light -- automatic brightness control (ABC)