An energy-efficient home is one that provides all the comfort and utility that homeowners desire while consuming the least amount of energy. From heating and cooling to appliances and electronics, there are steps you can take to make your home more energy efficient to help you keep more money in your pocket, no matter if you own or rent your home.
Potential Savings by Project, From the Department of Energy:
Fixing air leaks: Save 10%-20% on heating and cooling costs.
Insulating a hot water tank: Save 7%-16% on heating costs.
Adding a new HVAC system: See a 20% reduction in energy usage.
Purchasing ENERGY STAR® certified washers: Use 25% less energy and 33% less water.
Installing ENERGY STAR® certified thermostats: Save up to 8%
A modern American home consumes energy chiefly in heating and cooling, hot water service, lighting, appliances, and complex systems, so consider one or more of the following upgrades.
Install LED Lighting
LED light bulbs have brought enormous gains in energy efficiency for home lighting. LED bulbs are 75% more efficient than conventional incandescent bulbs. According to the U.S. Department of Energy, lighting accounts for around 15% of an average home's electricity use, and the average household saves about $225 in energy costs per year by using LED lighting.
Install Solar Panels
Solar panels gather energy from the sun’s rays and transform it into useful electricity to power some or all of a home’s appliances, lighting and even heat and air conditioning. While home solar systems can get expensive, the savings on electricity over time can eventually pay for the whole system. That means all the electricity it supplies from that time forward is eventually free.
Purchase Smart Home Devices
Smart technology devices can adjust automatically to times when energy is or is not needed. A smart thermostat can warm up the house automatically during peak activity or cool it down during sleep time or when no one is at home. Lights can be programmed to turn on and off at specific times or even turn off when no motion is detected for a certain stretch of time.
Update The Landscaping
The typical American suburban home is surrounded by a lush green lawn. Millions of gallons of water each year go into watering these vast grassy spaces. Natural and sustainable landscaping replaces lawns with native plants that thrive on the amount of rain that normally falls locally.
Use Tankless Water Heaters
Unlike a traditional water heater, which must keep an entire tank of water heated at all times (usually 40 – 50 gallons in most homes), a tankless water heater instantly heats water as it comes from the main water source. It uses energy only when hot water is needed, and is therefore more efficient, reducing utility bills.
Fight Phantom Power Consumption
Plug countertop appliances, electronic devices, and all other chargers into a power bar making it easy to switch them off before everyone goes to bed. Remember that televisions, cable boxes, game consoles and other corded devices suck energy even when they're not in use.
As energy costs continue to rise, energy-efficient solutions are becoming more effective and less costly. It makes sense now more than ever for homeowners to boost their home energy efficiency. Making your home more energy efficient is one way to counter inflation. Learn about the other ways that Credit Union of Denver can save you money. Check out our other blogs or visit a branch for personal financial coaching.