Combating Costs Through Energy Efficiency

Alicia Nelson-Bell
Empowering Financial Wellness Program Coordinator

Can you feel the dollars seeping out and the heat creeping into your home every summer as your air conditioner struggles to keep your home cool and comfortable? With rising costs of the basic necessities, you’re probably looking for ways to cut back on them, and to make it possible to leave money in your pocket so you can make progress towards your goals. A home energy audit is a great way to identify ways your family can make your living space more comfortable for you and your wallet. ​

What is a home energy audit?
A home energy audit assesses how much energy you are using, how much is being wasted, specific areas of your home consuming the most energy and specific steps to take to mitigate the energy loss occurring in your home. As you mitigate the energy being consumed in your home, you will find benefits to your comfort and be friendlier to the planet and your wallet. 

How much does a home energy audit cost?
Home energy audits can range in cost depending on the age and size of your home. The older and bigger your home, the more tests the energy auditor will conduct during the audit, taking more time and costing more money. Some energy companies offer energy audits for free to incentivize customers to be more energy efficient and other companies report that the audits cost homeowners an average of $290-$500. There are also rebates of $50-$100 available to help make energy audits more affordable. In general, homeowners that have energy audits conducted and make resulting home improvements are able to recoup the cost of the audit within about two years with all the energy savings. According to the U.S Department of Energy, you can save anywhere from 5-30% on your monthly utility bill by making fixes identified in the energy audit. 

Top 3 Fixes Found in Energy Audits:

1. Locating air leaks in appliances, pipes, windows and doors- One energy company has found that on average homeowners save enough money in one year by sealing up air leaks and attending to weather stripping to cover the costs of the improvements.
2. Assessing the amount of energy consumption heating and cooling- Many homeowners can see significant savings on their electricity bills by simply getting a programmable thermostat to help reduce usage while you aren’t home. Savings can be upwards of 10-30% per month.
3. Determining if you have the right kind and amount of insulation- Insulation plays a big role in your home’s comfort and efficiency. 

How Can I Afford Energy Efficient Upgrades?
The main power providers in most states offer local residents rebates and coupon discounts to help mitigate the costs of buying more energy efficient household appliances and fixtures. Rebates and coupon discounts available can be found on the power company’s website as well as further information on utilizing them. Rebates and discounts can be available for most any common household appliance or fixture. There are also government tax credits available for some energy efficiency upgrades. More information on those can be found on www.energystar.gov. 

If you’ve stuck with me this far here are a couple bonus energy efficiency tips:

1. Reduce your shower time by 2 minutes.
2. Use smart power strips to reduce energy waste when electronics are idling. 
3. Replace your faucets and shower heads with Watersense labeled versions.

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