This summer I did a "power use" study at home. For two solid months I either dried clothes outside on a line and wooden rack or used the rack inside in conjunction with the shower rod in the bathroom. It was amazing how the power bill dropped. Now that the weather has turned I am continuing to dry most things inside. I do draw the line (no pun intended)at towels and sheets as they take too long to dry and run the risk of smelling musty and also just take up too much room.
Granted there are only two of us at home. However, when my kids were little I did use lines outside in the summer and lines in the basement in the winter-the furnace was conveniently located nearby which helped the drying time!
An added bonus is that your clothes will last longer not being subjected to high drying temps.
It works for me-and it might work for you.