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How to Save Money on Energy Costs without Breaking the Bank
Saving money on your gas and electric bill sounds great in theory, but there is something to be said about spending more than you'll save. Of course, installing new windows or appliances might save you money in the long run, but is it really worth the cost to acquire them? In some cases, making energy efficient upgrades can cost upwards of 5 digits! I don't know about you, but if I am spending that much money, I have to know for certain that the cost is going to be worth it. So the question then becomes, can I improve my home without breaking the bank? If so, what exactly can I improve upon that will help me see immediate results? To help you, we've come up with a list of cheap, yet efficient upgrades that you can use to start saving energy costs immediately so that you can save more money for the big expenses.
- Did you know that installing a low-flow shower head can reduce your water and heating cost by roughly 4%? Even better is the fact that these shower heads cost less than 20 bucks in most cases.
- Buying a can of spray foam and insulating outlets can save you 1-2% per year, and that is at a minimum. If you have a drafty old home, then the savings are going to be much more. Spray the outside ductwork and openings as well for more improvement.
- Buying ductwrap and wrapping your ductwork can save you up to 5% per year. The materials are very inexpensive and the job is very easy to do. This will provide you an immediate savings and combined with a programmable thermostat, your energy costs will lower by up to 6-7% annually.
- Reduce your long showers to about 5 minutes, and you can save up to 2% on heating and water costs.
- Adding attic insulation is a bit more of an expensive job than most, but for the cost of a few dinners you can buy your own insulation and rent a machine to disperse it for you. You can get this done in a weekend and save up to 5% per year. This is a very important upgrade if you live in a cold area of the country. Keeping the heat in during the winter and out during the summer will save you even more.
- You can save yourself 3-5% per year by replacing your old fridge with a new Energy Star model. Although some of these models can be expensive, the cost will not take very long to recoup. If you have a 2nd fridge, it wouldn't hurt to replace that one or turn it off. You can save another 4-5% by doing so.
As you can see, there are several small and simple improvements that you can make to save energy costs in your home. Add all of these up and you are well on your way to cutting your costs in half over time. It does require some upfront money, but the cost is well worth it when you know your bills will be lower ever month. For more information on saving, you can look for an online energy cost and savings calculator, which will provide a more detailed analysis.
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