Loan Officer | NMLS #194146
Branch NMLS #1194581
Posted On April 04, 2018
Adding energy efficient appliances, fixtures, and other systems to your home can not only cut utility costs, but also increase the value of the home. With a continuously emerging energy efficient marketplace, plus the advent of smart home technology, some homeowners may be wondering where to start and which energy efficient upgrades will yield the best results.
Heating and Cooling
Investing in a smart thermostat can help regulate heating and cooling costs. Some even sense areas in the home that are hotter or colder and adjust accordingly. Many smart thermostats can also be controlled remotely. Stuck at the office? Make sure your home is not excessively heating or cooling while you are not there.
A smart thermostat, like Nest, has the potential to save between $131 and $145 each year.
Swapping incandescent lights for LED lights can significantly reduce lighting costs. Older, incandescent lights can cost 11 times more to illuminate than newer LED lights. Incorporating a smart lighting system with motion detection and remote access can also help reduce unnecessary lighting costs, especially when you are away.
LED and smart light upgrades can save between $80 and $120 each year.
Investing in energy efficient washers and dryers will cost more up front but reduce the cost of running the appliance with every load of laundry. For example, ENERGY STAR washing machines use as much as 25% less electricity than older appliances.
Energy efficient washers and dryers could save between $75 and $125 each year.
The average American household uses 90 gallons of water daily. Depending on the location and size of the household this figure may vary. On average, tap waters costs about $0.004 per gallon. Upgrading to energy efficient appliances can cut down on water consumption, but again will cost more up front to install. Other consumption-cutting measures include high-efficient faucet aerators or smart home water meters.
Reducing home water consumption may save about $100 each year.
Games, TV, and Other Tech
Your favorite tech toys can be big energy drains, especially when they are plugged in all the time. Lessen the impact of energy draining game consoles, televisions, and other electronics by plugging everything into a conservation-themed surge protector. Surge protectors can also protect expensive electronics from power surges like lightning strikes.
Energy efficient surge protectors can save between $60 and $80 each year.
Whether you are moving into a new home, or a current homeowner, energy efficient upgrades have the potential to save big on utility bills and improve the value of your home. If you have any questions about the value of energy efficient upgrades to your home, consult a real estate professional.