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Home energy improvements have risen in popularity over the last several years, though some consumers have resisted the transition because they wonder if the investment is worth it. There are many ways you can create a more energy efficient household. Check out these four popular upgrades and some suggestions for determining if they’re right for you:
The average solar panel installation for whole-home power can cost around $25,000 or more, which can seem like a hefty up-front cost. After tax incentives and rebates, as well as financing though, you can often get your monthly bill into the $100 range. On top of that, you can sell extra energy back to your power company. While setting up a solar panel system can initially be a costly investment, you can benefit from low monthly costs that are usually significantly cheaper than your current electricity bill. Check with your solar panel provider to find out if they offer warranties, subsidies, or any other benefits. You can expect to receive a federal tax break for the next few years, and some states also offer tax incentives.
Attic Foam Insulation
Attic foam can be a wise investment, but it depends on your specific needs. There are many ways to insulate an attic, and an energy audit can help to determine if attic foam insulation is the way to go. As with solar power, you can expect a higher upfront cost and lower monthly power bills. This trade-off might be worth it to some, but for others, it will still be cheaper to go with traditional fiberglass insulation. Getting an energy audit and learning a bit more about your home will help you make the right decision.
Energy Efficient Light Bulbs
Energy efficient light bulbs are more expensive than traditional light bulbs, but the overall life of the bulb will be cheaper than a traditional bulb. Thanks to energy savings and longer lifespans, energy efficient light bulbs are highly recommended if you’re looking for a smart, easy home energy improvement. If you’re able to replace several or all of your old light bulbs with energy efficient ones, you’ll see savings faster.
Smart thermostats are a great way to control indoor climates, but do they really save you money? They’re more expensive than traditional thermostats, but they allow you to more efficiently control your home’s temperature. While you’re away, you can set the thermostat to work less, and while you’re home, you can enjoy a comfortable climate. If utilized to its fullest potential, a smart thermostat can help you save significant money on your power bill. Again, this decision will depend on the climate in which you live, and how much you need to regulate the temperature of your home.
Home energy improvements can be highly effective in reducing your overall energy consumption, thereby offering lower monthly power bills. If you’re wondering what the best energy-saving options are for you, an energy audit is the best place to start. These audits can provide you with the knowledge you need to make an informed decision about your home energy improvements. Most improvements will require some upfront investment, but that cost is often covered by future savings. Energy upgrades can also make a property more appealing to potential buyers, so keep in mind that you could be adding value to your property in addition to benefiting from lower energy bills.
This article gives an interesting perspective on some of the perceived challenges of millennial homebuyers.