The average household spends $2,000 to power a 1,971-square foot home per year. Decrease your monthly expenditures by investing in energy efficient improvements that will pay off over time in reduced energy bills. Making energy efficient improvements is a great way to improve occupant comfort and reduce your carbon footprint, as well.
Because each home is different, how much you save depends on many variables, including the age and design of your home and the project’s total cost. Some of the best energy efficient improvements you can make are also the easiest (e.g., sealing air leaks, installing attic insulation, setting a programmable thermostat, etc.).
Here’s a closer look at some of the best energy efficient improvements.
Caulk and seal air leaks. Sealing uncontrolled air leaks is a cost-effective way to save up to 20% off your annual heating and cooling bills. Buy some caulk (don’t forget the caulk gun) and weatherstripping from your local home improvement or hardware store to seal around:
- Recessed lighting
- Plumbing lines
- Electric wires
Hire a professional to install attic insulation. Adding attic insulation reduces energy demand, improves the comfort of your home, and saves you money. Consult a professional insulation company to determine whether you need insulation and, if you do, how much. There are several types of insulating materials available, including loose-fill, rolls and batts, rigid foam, and spray foam.
Install a programmable thermostat. Nearly half of the average home’s utility bill goes towards heating and cooling. With a programmable thermostat, you can set the temperature to different, desirable levels during set times/days throughout the week. This, along with turning back your thermostat 7-10 degrees for eight hours a day, can save you up to $83 per year.
Lower water heating temperature; insulate the tank. Set your water heater temperature to a comfortable 120 degrees – not the 140 degrees most are set out of the box. Additionally, if the hot water heater is warm to the touch, wrap it in insulating material to save on heat loss. Combined, these improvements can save you up to $38 per year in water heating costs.
Install exterior low-e storm windows. Installing low-e storm windows will lower your annual energy bill as much as 33% while keeping your home warm in the winter and cool in the summer. Investing in new windows provides other advantages, as well, such as looking good and increasing the value of your home. In fact, according to Remodeling Magazine’s Cost vs Value Report for 2018, upscale window replacement has a 74.3% return on investment.
Switch to LEDs. Replace your home’s five most frequently used light fixtures or bulbs with ENERGY STAR certified models to save up to $75 per year, according to the U.S. Department of Energy. LEDs are available in a variety of shapes and sizes for any application, last 15 times longer, and are environmentally-friendly. They can also be purchased as a smart bulb, which are designed to make any light fixture, smart.
Use a surge protector for consumer electronics. The average household plugs in more and more electronics each year. The energy consumed by all these gadgets can add up to nearly 10% of your home’s monthly electricity bill. The problem is that many electronics continue to draw power even when they’re turned “off.” Plugging your electronics into a surge protector that you power off at night can save you up to $100 annually.