Smart Green Retrofits for Managing Energy Bills

When it comes to energy savings and green home improvements, instead of expecting huge returns, understand the latest bottom line – you can hold against skyrocketing energy costs by going in for some smart retrofits.

In general, energy prices have increased substantially in the last 10 years, especially in certain parts of the country. Even though there was a slight fall in natural gas prices since 2008 and there was stability in electricity prices for a while, there have been upward trends in prices of both since 2011.

According to the estimates of the Energy Information Administration of the US, there will be an average yearly increase of 2.3 per cent of the costs of residential energy right through 2035. If these projections are accurate and your average annual energy bill is $2,200 today, an increase of 2.3% works out to $50 more in the first year if your consumption pattern stays constant. In such a scenario, you’ll have a bill close to $4,000 by the time you get to 2035. Ouch, that’s going to pinch.

Dependable energy saving retrofits

When the sole reason for making retrofits is managing energy bills, look out for projects that offer the maximum returns for your investment.

As a rule of the thumb, try to fight the 2.3% yearly average by going in for green home improvements which reduce your energy usage by 5% or above and require a reasonable initial investment. Remember to find out whether your state government or utility offers tax credits and rebates for such improvements.

Some suggestions:

1. Insulate and seal ductwork running through spaces without heating. Though it may not appear glamorous, doing this in places like the attic and garage can improve heating system efficiency by 20% and you might manage a 5% overall bill reduction. A few hundred dollars of investment will be required for hiring an HVAC pro for the job and labor and material costs.

2. Get a programmable thermostat. If you don’t have one already, getting it and programming it correctly can help you save about 8% on your energy bills on an average.

3. Seal air leaks and add attic insulation. This is one of the soundest energy-saving improvements. By sealing and insulating your home, you can bring down energy bills by almost 10%. Regard upgrading attic insulation and sealing air leaks as a combination job for maximum benefits.

 

The bottom line

Don’t expect huge savings in your energy bills when you opt for green home improvements. It makes better sense to go in for green retrofits that are likely to offset increasing energy prices.