From computers to major appliances, manufacturers are increasing the energy efficiency of their products. According to the U.S. Department of Energy, ENERGY STAR-rated appliances can save you 10% to 50% of the energy required for standard models that don’t receive the ENERGY STAR sticker. Considering most major appliances last 10 years, those savings can stack up over time.
There are even more savings in-store by replacing older appliances that weren’t built with today’s efficiency standards in mind. Improvements in refrigerators are cutting their energy use in half about every 15 years. So, if your fridge is more than 20 years old, replacing it with a new high-efficiency model could save you $300 in operating costs over the next five years.
Smart power strips also show how spending now on efficiency can make money in the future. Keeping your phone charger and other electronic devices plugged in can consume electricity even after they’re fully charged or not in use. A smart power strip cuts off the electricity once charging is complete. A smart strip costs about $40 and depending on how much charging you do, it could save as much as $40 a year on your electric bills, recovering your initial investment almost right away.
Another example of returns on energy efficiency investments comes from the world of real estate. Realtors will be the first to tell you that energy efficiency sells houses. If you’re in the market to sell, spending a little extra on insulation and efficient appliances increases resale value.
