Things that will put a serious dent in your energy bills
Eighty-nine percent of us believe we’re doing the right things to lower energy costs, and almost half of us think our homes already are energy efficient.
With the temperatures starting to drop as we head closer to winter, many of us think more about how much money we’re sending to AES (formerly DP&L). Eightynine percent of us believe we’re doing the right things to lower energy costs, and almost half of us think our homes already are energy efficient.
Yet, 59% of us say our bills are going up, not down, despite our efforts to economize. So what can you do to take a bite out of those higher utility bills?
“Newer homes are already energy efficient because they were built
to code.” Don’t bank on it. Building codes change pretty regularly, so even newer homes benefit from improvements.
“Utilities are out to get us: They’ll jack up prices no matter what we do.” It might feel good to blame them, but to get any rate changes, utilities must make a formal case to public utility commissions.
“Energy improvements should pay for themselves.” It doesn’t work that way. In a recent survey, when consumers were asked what they would expect to recoup if they invested $4,000 in energy-efficient home improvements, they said about 75% to 80%. Unless you invest in some kind of renewable energy source like geothermal and solar, you won’t see that kind of savings. Even if you do all the right things, the most you should expect is a 20% to 30% reduction annually.
“Expensive improvements will have the biggest impact.” That’s why homeowners often choose pricey projects like replacing windows, which should probably be fifth or sixth on the list of energy-efficient improvements. There’s nothing wrong with investing in new windows. They feel sturdier; look pretty; can increase the value of your home; feel safer than old, crooked windows; and, yes, offer energy savings you can feel.
But new windows are the wrong choice if your only reason for the project was reducing energy costs. You could replace double-pane windows with new efficient ones for about $9,000 to $12,000 and save $27 to $111 a year on your energy bill, according to EnergyStar. Or you could spend around $1,000 for new insulation, caulking and sealing, and save 11% on your energy bill, or $227.
You just need to know what improvements will make the biggest difference to lower your bills. There are five, and the good news is that they’re cheap.
1. Caulk and seal air leaks. Buy a few cans of Great Stuff and knock yourself out over a weekend to seal around: ■ Plumbing lines ■ Electric wires ■ Recessed lighting ■ Windows ■ Crawlspaces ■ Attics
Savings: Up to $227 a year – even more if you add or upgrade your insulation.
2. Hire a pro to seal ductwork and give your HVAC a tune-up. Leaky ducts are a common energy-waster. Savings: Up to $412 a year.
3. Program your thermostat. Savings: Up to $180 a year.
4. Replace all your light bulbs with LEDs. They’re coming down in price, making them even more cost effective. Savings: $75 a year or more by replacing your five most frequently used bulbs with Energy Star-rated models.
5. Reduce the temperature on your water heater. Set your tank heater to 120 degrees – not the 140 degrees most are set to out of the box. Also wrap an older water heater and the hot water pipes in insulating material to save on heat loss. Savings: $12 to $30 a year for each 10-degree reduction in temp.
Taking care of some or all of these listed items will help keep those dollars in your wallet! And when you’re in the market to buy or sell a home, contact a Realtor for even more expert advice.