Energy Efficient Home Upgrades That Can Pay for Themselves
There is nothing better than a renovation project or upgrade to a home that actually pays for itself over time. While this may not happen overnight, knowing that this will save money in the coming months, and enough to pay for itself entirely, can be a game changer. These are often the types of upgrades that people want to make to their homes because they know they will be getting a high return on their investment both now and in the future. If homeowners are looking for some great home upgrades concerning energy efficiency, such as a home solar panel system, and want things that will pay for themselves over time, then these are the best options on the market to go with.
There are a lot of different programmable thermostats available on the market. While the cost of these thermostats can vary depending on the model and the brand that you purchase, they have the ability to save you a lot of money. The best thing is that any homeowner can start to see the cost savings as soon as they start using the thermostat because they can set the thermostat to specific temperatures throughout the day so it is not running all day long.
You can also set specific temperatures for any other occasion such as going out of town. By setting the temperature, homeowners can save money by not having their systems running all day long. They will start to see the thermostats paying for themselves in a little over a year.
Energy Efficient Windows
Energy efficient windows are great options for any home if you are looking to prevent energy loss from them. There can be a lot of heat or cool air lost through the pane of a window. If a home has single pane windows, then homeowners are likely wasting a good amount of energy. While installing energy efficient windows that prevent this loss can be expensive, people can start to see savings immediately in your energy bills. However, it will take approximately 10 years before they pay for themselves with that savings. You may want to see if your upgrade is eligible for a tax credit though to speed up that savings realization.
One of the best ways that you can save on energy costs in your home is by preventing energy from escaping. While sealing gaps around windows and doors is important, it is also important to note that without proper insulation, all of those efforts could be lost. There are better types of insulation on the market than have ever been available before, such as the foam insulation options that cover every crack or crevice.
This insulation provides even better protection and keeps more of the heated or cooled air inside the home, which results in even less of a need for a constantly running unit. Homeowners will likely see approximately 10 percent of a decrease in your heating and air conditioning costs almost immediately, depending on the size of their home. They can expect for the savings associated with the insulation upgrade to pay for the upgrade in approximately 10 years.
Homeowners who buy their system will enjoy the greatest solar panel savings. Ownership has its privileges including not being locked into a 20-year PPA lease or loan agreement. Thousands of individuals who own a 5 kW solar system were surveyed amid the largest 50 cities recently, and they reported an average energy cost savings of $45-187 per month in the first year of ownership. Over the course of 20 years, this can mean homeowners save around $30,000 by investing in solar panels.
Those who opt to buy solar panels versus leasing can also qualify for substantial federal tax credits and local incentives that can help recoup the cost of initial investment. Furthermore, if the home ever goes up for sale, it will have a greater market value with a quality solar panel installation. Another way to save money with solar is to sell any surplus energy generated by the system back to utility companies who pay homeowners according to set utility rates at the time.
Of course, just how much money one can save using solar panels will depend on the size of the system, the initial cost of the system, the home’s design and other factors that should be discussed with a professional before taking the plunge.
Loss of energy and using too much energy happens in every Big Lake home but there are easy ways that you can avoid this and stop the cycle in your home for the future. Now that you know the best options on the market for energy efficient home upgrades that can pay for themselves, you can start to make all of the upgrades that you have been wanting for your home.