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How to Create an Energy-Efficient Home to Save Money

April 8, 2022
in Wealth Management
0
How to Create an Energy-Efficient Home to Save Money

1. Perform an Energy Audit

Consider hiring a professional energy auditor to evaluate the inefficiencies and wasted energy in your home. A certified and trained auditor will inspect your home, inside and out, to pinpoint savings opportunities and identify areas that need improvements. Auditors typically charge by the square footage of your house or by the hour. Many utility companies even offer a free home energy audit to their customers. 

2. Seal or Upgrade Windows

Without an airtight seal on your windows, you’re wasting energy when heating and cooling your home. If your windows are old and leaking air, it may be time to replace them with energy-efficient models or to boost their efficiency with weatherstripping. The right windows will trap cool air during the summer and hot air in the winter. Replacing old, drafty windows may be an expensive project to complete, but it will give you long-term energy savings.

3. Buy ENERGY STAR Appliances

If you’re in the market for a new appliance, consider purchasing a product with the ENERGY STAR label, which uses considerably less energy. There are more than 40 product categories that offer the ENERGY STAR label, including major appliances and light fixtures. ENERGY STAR products, such as refrigerators, televisions, stoves, washers, and air conditioners, meet energy-efficient specifications set by the Environmental Protection Agency (EPA). 

ENERGY STAR appliances use up to 10 to 50% less energy than standard appliances and help reduce emissions of greenhouse gases. It’s important to note that many energy-efficient appliances are more expensive to purchase than traditional appliances, but these upfront costs actually save you money in the long run. 

4. Get a Tankless Hot Water Heater

Your hot water heater is one of the biggest energy consumers of all your home appliances. Consider a tankless version (also known as an on-demand hot water heater), which is significantly more energy efficient and tends to outlast conventional storage water heaters. It can also cut your hot water energy costs dramatically once installed. 

5. Install Storm Doors

Storm doors are a great way to prevent unnecessary energy loss. Even if you have an energy-efficient exterior door, adding a storm door gives you an extra layer of protection from harsh weather conditions year-round. Storm doors typically have low-emissivity glass or a protective coating that can help reduce energy loss. Most storm doors last between 25 and 50 years, and the installation rate generally starts at around $75.

6. Improve Your Insulation  

Improving your home’s insulation is one of the most affordable ways to reduce energy loss and save on your electricity bill. Heating and cooling costs account for a large chunk of your home’s energy tab, and you want to keep the hot or cool air inside your home. 

To save energy, seal gaps and cracks in your attic and basement and around windows and doors, and make sure your home insulation levels meet or exceed your local codes. The U.S. Department of Energy has an online tool that can help you determine if you have enough insulation based on the region where you live.

7. Schedule Yearly HVAC Maintenance

You can increase the efficiency of your heating, ventilation, and air conditioning (HVAC) system by having it inspected and cleaned at least once a year. An annual tune-up on your HVAC system will ensure that your furnace and AC are running at peak efficiency, which can save you money each month. 

These routine check-ups improve efficiency by ensuring connections are tightened, parts are properly lubricated, and coils are cleaned. And, as an added bonus, you’ll also have cleaner air circulating throughout your home. 

If you rent an apartment or townhouse, this is typically your landlord’s responsibility to schedule and have done.

8. Invest in Solar Panels

Solar panels are used to convert light from the sun (solar energy) into electricity you can use to power your home. Although solar panels can be expensive to purchase and have installed, they’re becoming more popular to generate electricity for the entire home. They can greatly reduce your electricity bill in the long run, promote lower fossil fuel usage, and can help you qualify for annual tax incentives. Typically, they’re installed on your roof and cut your electricity costs by generating energy independently rather than relying on a utility company. 

Since rooftop solar panels are usually permanently installed, you probably wouldn’t invest in them when you’re renting. However, there are solar charger products that are apartment-friendly for renters. You can hang them in a sunny window to produce enough energy to power devices like your cell phone or tablet. Although it won’t power your entire apartment, it’s a good starting point!

Renter friendly ✅ 

9. Replace Incandescent Light Bulbs

Replacing traditional incandescent lights with more efficient options comes with a relatively low cost compared to some of the bigger energy-efficient projects or upgrades. Plus, most energy-efficient light bulbs last longer than incandescents, so even though you spend more upfront, you won’t have to replace them as frequently. 

Light-emitting diode (LED) bulbs have also become popular in the residential market, as they use up to 90% less energy and last up to 25 times longer than traditional incandescent bulbs. Start by switching out the most widely used bulbs in your home, like those in shared living spaces such as the bathrooms or kitchen. 

Renter friendly ✅ 

10. Unplug Unused Chargers

This is an easy one, plus it’s free to do! Chargers that are plugged in draw power even when no device is attached. Once your phones, tablets, or other devices are fully charged, unplug the chargers. According to Energy.gov, the average phone charger consumes 0.26 watts of energy when not in use and 2.24 watts when connected to your fully powered phone. Although one charger won’t make a huge impact, multiple chargers plugged in can be responsible for a big portion of your monthly energy bill. 

Renter friendly ✅ 

11. Use Cold Water When Possible

You may not realize how much hot water you’re using, especially if you’re using hot water for your laundry and dishwasher. You could be burning more energy than what’s needed. Instead, try washing your clothing in cold water, especially for items that only need a little refresh and aren’t heavily soiled. As an added bonus, you may start to notice less color bleeding, fading, and shrinkage of your clothes after switching the water temperature.

Renter friendly ✅ 

12. Lower Your Thermostat

Adopt the habit of lowering the temperature on your thermostat while away from home. Lowering the temp by 7° – 10°F for 8 hours a day from its regular setting will reduce your monthly utility bill and use less energy. And remember, you don’t have to rely only on your thermostat to stay comfortable. Make the most of natural shade and sun. If it’s hot outside, pull down your blinds to block out the sun. And when it’s chilly, use that sunshine to warm up your home.

Renter friendly ✅ 

13. Change Your Filters Regularly

Routinely replace the air filters in your heating and air conditioning systems. Keep your HVAC system in tip-top shape by changing the filter every 30 to 90 days, depending on the type of filter you have in your system. Factors such as the size of your house, pets, and the overall air quality in your space will typically affect how often you should change your filter out as well. Set a reminder on your phone so you don’t forget!

Renter friendly ✅ 

14. Routinely Clean Large Appliances 

If the vent on the back of the refrigerator or the clothes dryer exhaust vent builds up dust, the motor works harder, which requires more energy use. So, clean the lint trap before you use your dryer. Excess lint can be a fire hazard, but it will also prolong the amount of time required for your clothes to dry. You should also turn your refrigerator off and clean the coil of dust a couple of times a year.

Renter friendly ✅ 

Source
How to Create an Energy-Efficient Home to Save Money is written by Rachel Velez for www.chime.com

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