Americans spend, on average, $2,000 annually on energy. Fortunately, by implementing energy efficiency updates, you can reduce that cost and improve the comfort of your home. Many of these upgrades also currently have rebates or tax incentives associated with them so they are even more affordable. It may be time to take advantage of these upgrades to lower your energy bills.
With the continuing increase in electricity costs, more homeowners are making the switch to solar energy as a cost-effective alternative to generate energy for their homes. Over the long term, home solar power systems can save you a significant amount. The average payback period for solar energy is approximately eight years, but solar panels can last for up to 30 years, providing at least 17 years of substantial savings. There are benefits at the federal, state, and local level that may earn you money back for installing a qualifying system.
If you want to improve the energy efficiency of your home, start with one major energy-consuming culprit, your HVAC system. Heating and cooling your home accounts for approximately 40% of your home’s total energy consumption. There are many energy-efficient HVAC systems to choose from depending on the size of your home and your budget. Options also include smart thermostats that let you program different temperatures for different times of the day. By optimizing the efficiency of your HVAC system, you can significantly reduce your energy costs, improve indoor air quality, and create a more comfortable living environment.
Further reduce your monthly energy bills by upgrading to ENERGY STAR® certified home appliances. Not only will you save money, but these appliances have improved performance, durability, and reliability. The types of ENERGY STAR® certified appliances available include refrigerators, dishwashers, washing machines, and dryers.
Did you know your home’s water heater uses more energy than your refrigerator, dishwasher, washer, and dryer combined? If your water heater is nearing the end of its life, consider replacing it with an ENERGY STAR® certified heat pump water heater. It is up to four times more efficient and on average, uses 70% less energy than a standard electrical water heater. While a heat pump water heater costs more upfront, the energy savings pays back the difference in about three years for a family of four.
There are many ENERGY STAR® certified light fixtures and bulbs to choose from that come in all shapes and sizes. They offer significant cost savings and longer lifetimes than standard lighting products. One low investment, high return upgrade is simply switching out your incandescent light bulbs with LED ones. Instant rebates on LEDs may be available.
In addition to federal tax credits for some upgrades, PECO offers a number of rebates available to its customers. Learn more about local and federal rebates and tax incentives available here.
As part of our design/build services, efficiency and comfort of your renovation is top of mind so you not only have a beautiful space, but one that is sustainable and provides cost-efficient lasting value as well.