In Part 1. we discussed some of the quickest ways to improve your home. An energy audit will have a professional point out all the air gaps and help come up with a plan of attack for you. Air sealing and insulation will provide the most noticeable improvements and make your home so much more comfortable, you’ll wonder why you didn’t do this years ago. Here are 3 more ways you can cut your heating and electricity bills at home. Warning, get your wallets ready for these.
Upgrade to energy-efficient windows
Old windows are often drafty and allow heat to escape from your home, which leads to higher heating bills in the wintertime. You’ll also loose your cooling if you have the AC turned up and the windows closed with old windows. If you’re looking for a way to reduce your energy costs, upgrading to energy-efficient windows is a great, albeit costly option. There’s so much to cover when looking at replacement windows. Wood provides that timeless feel but can become very expensive. Vinyl and now fiberglass windows remove the risk of rotting wood and expansion. Some may complain that vinyl windows look cheep but they have come a long way regarding their build quality and aesthetics. And you can now get windows in a variety of colors to match your style including wood grain. Dual and triple pane windows create a layer(s) of insulation between the glass and the elements outside. You’ll also have to decide between insert windows vs new construction windows. Be prepared for the cost of new windows throughout your home to reach the equivalent of a new car.
Upgrade to an energy-efficient HVAC system
If your home has an older HVAC system, it may not be as energy efficient as newer models on the market today. Upgrading to a new system can help you save money on your energy bills and make your home more comfortable throughout the year. Most homes have forced air systems and many are the original gravity system that came with the house. Most run of the mill furnaces have an efficiency level of 80%. That means 20% of the fuel your furnace gets, gets lost in the process of heating your home. It’s very common to see furnaces with higher ratings into the mid 90% range. There are also high efficiency hot water tanks you can look at as well when replacing. Check with your local utility company for rebates on the cost when switching to a high efficiency heater.
If you have boiler heat or need air conditioning, there are fantastic options too. Like furnaces, new boilers start in the mid 80% for efficiency and too can reach into the 90’s. The cost will increase with any of these more energy efficient systems so you may want to consider what the payback period would be on any savings. In English, that means if I’m going to spend an extra $1800 on a high end heater, how long it will take me recoup that difference from my lower energy bills.
Use solar power when possible
Here’s the thing about solar power installations, and not many people talk about this. Whether you pay the cost out of pocket or finance it over time, that PV (photovoltaic) system is a hedge against rising power bills. The cost of energy is increasing at a rate the world hasn’t seen in more than 40 years. Coal, yes coal, is trading in the commodities market near $200/ton as of October 2022. If we look back during the 2010’s the spot price floated between $50 and $100/ton. Solar power is becoming increasingly popular as a way to reduce energy costs and shrink one’s carbon footprint. There are a number of different solar installation companies no matter where you live. The federal rebate is set to renew in 2024 making it a great time to shop around for the right installation.
Everything from your home’s solar orientation, roof lines, tree coverage and many other factors will determine if solar is right for your home. Talk to an expert and get a few quotes like any big project. The biggest piece of advice I can give you is to ask each installer what financing options there are. The longer you finance your pv system, the lower your payments will be. We aimed to keep our payment at the same cost as our energy bill at the time. This way the monthly cost of our solar panels and our electricity bill was a wash and if energy prices go up, we won’t get hit with the difference.