The average American household spent $1,419 on their electricity bills in 2010. That’s a lot of energy, and even more money. With household expenses growing each year, you may be wondering how you can reduce your utility bills and save your money for other important expenses. Energy-efficient appliances are a fantastic way to conserve energy, save the environment and reduce your monthly billing statements all at the same time.
Modern Home Buyers Look for Energy-Efficient Appliances
Home buyers today are environmentally savvy and price conscious. If you’re interested in selling your home either now or in the near future, you may want to invest in energy-efficient appliances to make your home more attractive to viewers. You may be able to secure a large return on investment for energy-efficient appliances by drawing in more prospective buyers (who could potentially start a bidding war) and by differentiating yourself from other homes on the market. According to Duke Energy, energy-efficiency was found to be important to 88 percent of all home buyers. Larger improvements, such as solar panels, tend to increase property value even more.
Energy-Efficient Appliances Pay for Themselves
Energy-efficient appliances come with many financial benefits, such as government tax credits for homeowners that install them. You could purchase a new appliance and then possibly get some of that money back at the end of the year through government credits, many of which are outlined by Energy Star. The rest of the cost of your new appliance may be offset by your lowered monthly bills, allowing your appliance to pay for itself over a long span of time. As noted, these energy-efficient appliances will also increase your overall property value, which will be very useful if you intend to sell.