There are a plenthora of products and services available to homeowners to reduce their energy costs and make their homes more comfortable. From the least expensive to the most expensive, everyone chooses how they live in their homes. The products and services that homeowners purchase and install are unique to their budget and concerns. There is no one size fits all - there are 50 shades of Green, too!
Since efficiency items have gained ground, there are new innovations and the learning curve is constant. Knowing which products have realistic claims and the best return on investment isn't always easy to figure out.
Last week I wrote about Solar Windows. The return on investment for regular windows is is 17 - 20 years, but much longer for solar windows given their 5% production in energy. Windows have the longest return on investment and are the most costly energy efficiency item for a home.
In contract, some of the least expensive ways to reduce your energy bill are:
- Led bulbs
- Smart thermostat
- Shade screens
- Duct sealing
There are more expensive ways to reduce your energy bill, but the items above have a return on investment of less than three years! An HVAC for instance typically has a seven year payback; while solar panels have a five to eight year payback.
So, let's just say there are 50 Shades of Green when it comes to solutions for homeowners to reduce their energy bills. So ask yourself:
- What is your budget?
- How long do you plan on living in your home?
- Do you have allergies?
- How old are the systems and components in your home?
The answsers to the above and the recommended products to fit your needs are unique to you. Your best first step is to know what you own. Contact your electricity provider to learn if they partner with companies to provide Energy Audits for homeowners. If they don't research that phrase on Yelp to learn who provides an energy audit in your city and state.
An energy audit will provide information about the systems and components of your home. The report shows ways to improve energy efficiency and the return on investment for each item.
And remember that there are rebates and tax incentives for all kinds of products and services as shown on the Inflation Reduction Act. While the program is a national one, check to make sure your state is participating.
This link is an easy to understand explanation and calculator for the tax credits.
The IRA also includes tax credits for solar panels and EV's, but check to make sure your purchase qualifies. Check out the IRA link as a homeowner, but also if you are a builder, developer, and in a related field.
Make sure you research products and services as well as vendors to make educated decisions about your home.
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