Top 5 Energy Efficient Products that will Reduce Your Energy Costs

Energy efficient products that will save you money

Are you looking to save money every month? Your family’s utility bill is a good place to start. It’s true that utility bills are going through the roof these days, especially since we use electricity every single day. But, the scientific attributes of heat and energy mean specific appliances and factors affect your energy bill disproportionately. Between 1950 and 2010, U.S residential electricity consumption per capita increased 10-fold, which is an annual increase of 4% per year!

here are energy efficient products to help you reduce energy costsBack then, utility bills seemed like one of those things that you had to pay and there was no way around it. The trend has recently changed. Today, energy efficiency and solar have become America’s largest energy source, contributing more to the nation’s energy needs over the last 40 years than oil, coal, natural gas, or nuclear power. Efficiency and solar  account for more than 2.2 million U.S jobs—at least 10 times more than oil and gas drilling or coal mining.

But, what if you’re interested in reducing your energy cost and you’re not sure where to start? Well, a lot of people would probably suggest installing solar panels and that’s great! Going solar can save you thousands of dollars and is a good return on investment (ROI). Sounds easy, right? The truth is, whether you decide solar is a smart long-term investment for you or not, consider this:

The Scenario

the ecobee is considered an energy efficient productLet’s say you’re a homeowner interested in becoming energy efficient and you’ve got this sales guy chatting you up and reeling you in with his signature sales jargon, he asks: “So, how much is your electric bill annually?” and you answer, “About $3,600.”

That’s when he does some math and declares that you need a 9.6 kW solar system on your home. Sounds good, right? Well, hold on a second and let’s break it down.

Here’s the breakdown

The Other Guy

Your total annual electric bill = $3,600

kWh total consumption on bill = 14,400 at $.25/ kWh

Means you need a 9.6 kW solar system to offset 100% of your consumption.

Installed cost of solar = $3.5/w

To build the PV system would equal = $33,600 (9.6 kW)

Giving you 144,000 kWh of solar energy over a 10-year period. Wonderful! Let’s sign the proposal! Wrong! Before signing this contract, think about this: besides going solar, there are a number of other improvements you can do around the house to cut your energy expenses. By understanding how you consume power, you can leverage additional energy-saving solutions in conjunction with solar PV to reduce your consumption. Here are 5 we're just giving you today.

Here’s How You Do it

Using the same scenario:

Your total annual electric bill = $3,600

kWh total consumption on bill = 14,400 at $0.25/kWh

Instead of using solar to offset your utility bill you install:

  1. A new pool pump = $1500 saving (1000-1500 kWh/year)
  2. A whole house fan = $2500 saving (2500 kWh/year)
  3. Smart thermostat = $250 saving 500 kWh/ year
  4. LED lighting = $250 saves 500 kWh/year
  5. Insulation = $2500 saving 2,000 kWh/year

The above adds up to $7,000 in energy efficiency upgrades. Then, by adding solar panels to the mix, you would need a significantly smaller system of 4.5kW. At $3.5/w would be $15,750. In the end, your grand total would equal $22,750. A savings of $10,850, which is a whopping 32% decrease in your out-of-pocket expense for your HelioPower energy solution over the Other Guy’s. As you can see, there are multiple variables to consider when seeking to save money on your utility bill. While investing in top-of-the line solar equipment seems like a good place to start. The only way to find the “sweet spot” for your home is to begin with simple lower cost solutions.

Try putting the calculations above side by side and tell us which money saving option seems best to you.