Before you buy it, factor in the cost of power

CONSUMERS who take energy ratings on appliances seriously can save themselves more money, yet most of us still put price before power use.

Surging electricity prices are giving energy star ratings greater importance. Despite this, a survey by Finder.com.au has discovered more than 40 per cent of consumers don’t even consider them.

Finder’s analysis found a two-star clothes dryer costing $719 to buy would cost a consumer $3801 over 10 years in total, but an eight-star dryer costing $1599 would cost $2589 over the same period – a 32 per cent cost saving.

In practicem most people just want the instant gratification of a good upfront deal.

“Many just go for what’s cheapest at the time of purchase rather than factor in how much they can save over a year, or even 10 years,” said Finder specialist Graham Cooke.

“It’s hard to see past what’s in front of you at crunch time, whether it’s the price tag, brand or what the appliance looks like,” he said.

Mr Cooke said star ratings could be confusing, and people using them should also consider capacity of the appliance.

“The typical star rating is out of six, but because technology is constantly improving, appliances can be superefficient meaning they get a rating out of 10,” he said.

Research group Canstar Blue’s spokesman, Simon Downes, said people who sought the highest number of stars on their appliances were often “super eco-conscious because of the prices that they come with”.

Overall, price was still the No. 1 factor for consumers when buying all categories of appliances, Mr Downes said.

“It’s understandable, because although people are more conscious of energy efficiency, it’s a difficult decision to take a higher upfront cost with a view you will save in the long run.

“The key is to find the balance between a reasonably energyefficient appliance and the right price.” Mr Downes said energy ratings on appliances prompted people to think about conserving power, even if they weren’t buying an expensive eco-friendly model. “As energy bills generally get higher, the difference in savings accumu-lates over years.” The energyrating. gov.au website says people should always choose the right size model for their needs. “Bigger is not always better,” it says.

“When buying a television, each additional star is 20 per cent more energy efficient than the previous star.”

Finder’s survey of 2085 people also found that men were more likely than women to ignore energy ratings on appliances, and Baby Boomers were the most energyconscious buyers.

Mr Cooke said: “Energy labels also list the appliance’s yearly electricity consumption on them, which is important if you want to compare- a number of different sizes and models.”