With the rise of electric cars, CFL and LED light bulbs, and other developments in energy efficiency, it’s practically impossible to ignore the recent movement toward conservation.
Did you know that by introducing energy efficiency into your home you’ll save money on your utility bills each month and increase the value of your home? The cost of lighting, electricity, heating, and water heating quickly adds up and can cost thousands of dollars each year in utility bills alone. By installing energy efficient appliances, you will save hundreds each year and make your home more alluring for potential buyers.
What’s more, installing energy efficient products may qualify you for tax incentives like credits, discounts, and rebates through the ENERGY STAR program. Why? Because energy efficiency requires less electricity, therefore reducing greenhouse gas emissions and protecting the environment.
A Step Toward Energy Efficiency
If you are interested in reducing your carbon footprint, saving money, and making your home more energy efficient, there are many changes you can make. From expensive upgrades like solar panels to simple lifestyle changes such as adjusting the temperature, there are many steps toward energy efficiency that can be taken regardless of the budget.
One of the best ways to increase your home’s energy efficiency is to install energy-efficient appliances. In the past, energy-efficient appliances cost more than the traditional models, but with the increased demand for ENERGY STAR products, the cost has significantly decreased. You can now find certified energy efficient appliances for the same cost as their traditional counterpart.
Keep reading for the cost of adding new energy efficient appliances to your home.
The Cost of Energy Efficient Appliances
Refrigerator - Investment Range: $350 - $10,000
The cost of ENERGY STAR refrigerators greatly depends on the model and size. Apartment sized refrigerators start around $350, while the popular side-by-side model can cost up to $10,000. Regardless of how much you invest up front, the savings over time is undeniable. A traditional energy efficient refrigerator saves about $6 a year and will last for about 12 years, resulting in $72 of savings in its lifetime.
Washer - Investment Range: $600 - $1,800
ENERGY STAR clothes washers use 25% less energy and 30% less water than traditional models. In addition, they offer a larger clothing tub so you can wash more clothing in a single load, resulting in fewer loads overall. Not only does this conserve water and energy, but it also reduces the use of your washer which elongates its lifespan. On average, an energy efficient washer will last 11 years and save an average of $40 a year with a $ 415-lifetime savings.
Dryer - Investment Range: $650 - $1,700
The ENERGY STAR clothing dryers use 20% less energy than traditional models. In addition, these models include moisture sensors that cause the dryer to automatically switch off when the clothes are dry, preventing unnecessary energy usage and preserving the machine. An ENERGY STAR clothes dryer saves $16 a year, lasts an average of 12 years, and offers a lifespan savings of about $160 a year.
Hot Water Heater - Average Investment: $3,000
One of the greatest potential for savings when it comes to energy efficient appliances is the tankless hot water heater. This model heats water as it’s used rather than heating gallons of water unnecessarily. While the total investment for a tankless water heater depends on the model and cost of installation, it can run as much as three times more than a traditional water heater. While this is a hefty bill to pay upfront, tankless water heaters are 24 to 34 percent more energy efficient and can last 20+ years, which is nearly twice as long as the traditional model. On average, gas-fired tankless water heaters save homeowners about $100 a year while electric-fired models save about $44 a year.
Dishwasher - Investment Range: $350 - $1,800
Another effective way to conserve water is by installing an ENERGY STAR dishwasher. These models save about 3,870 gallons of water over their lifetime and use energy-saving technology like soil sensors, efficient jets, and improved water filtration. By conserving water and energy, an energy efficient dishwasher can cut your utility bills by $40 each year.
Air Purifier - Investment Range: $100 - $500
If you are running an air purifier in your home, you can save an average of $215 by upgrading to an energy efficient model. The ENERGY STAR air purifier is 40% more energy efficient than a traditional model, saving about 225 kWh per year.
Final Thoughts
If you are calculating the costs of installing ENERGY STAR appliances, be sure to do plenty of research on which models are best for your home. Calculate the amount you stand to save on water and energy, and choose the products that accommodate your budget and offer the greatest reward on investment. And above all, don’t forget the positive impact installing these appliances will have on the environment and your carbon footprint.
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