Harness the sun's energy by running a line outside in your backyard or use individual wooden drying racks on your porch, or a sunny room. We have a line across two fences in the backyard for sheets and towels, and use two drying racks for the "smalls" both inside and out, depending on the weather. For items that need to be hung to avoid wrinkles, I have a portable hanging rack on wheels which holds an entire load of hangable laundry. On bad weather days, I dry sheets by hanging them on the ends of this portable hanging rack. I dry them overnight this way, and they are ready to be put away the next day.
Reportedly, line drying saves me on average $150.00 a year in electricity.
Other benefits include less wear and tear on your clothing(last longer, don't shrink as much), and the natural bleaching action of the sun, if you hang laundry in the sun. Drying my clothes on a hanger negates the need to iron most clothing. By not using the dryer, I don't need to clean a lint trap or worry about the exhaust line needing a clean-out.