"I think, number one, companies are going to put smarter sensors on major appliances –- sensors that can allow consumers to better monitor electricity use and know how much they are spending for electricity," says Dr. Walden, an agricultural and resource economics at N.C. State University.

"Number two, I think electric utilities are going to move to something called variable pricing, where you are going to pay more for your electricity during peak demand, less during low demand, so that will spread the demand out and allow us to get more use out of our existing capacity," he adds.

"Better building codes, I think, are probably around the corner that will reduce energy use," Walden says. "And then finally we should not forget technology. There is a big motivation out there for companies to find ways to produce appliances, other kinds of equipment, that are more energy efficient, and I think we should look for that down the road."