High Property Value, Low Electric Bills
Even with the high mortgage rates, new homeowners should think about investing in their homes right away to increase their property value. With these energy efficient money savers, you can do just that. And best of all, all nine of these will save you money on electricity, making them an instant return on investment.
1. Solar Panels
Installing solar panels not only saves money on your electricity bill but also raises your property’s value.
Solar panels in Dallas typically cost around $2.69 per Watt. So, the Dallas-average 7.7 kW system would cost $14,499. But, that’s before the 30% federal solar tax credit. Besides, it will only take approximately 9.7 years to break even with the lower energy bills.
2. Geothermal Heating and Cooling
Geothermal heating the most energy-efficient way to control your home’s temperature. This method circulates water and an antifreeze solution in underground tubing.
The price depends on your home’s size, but on average it costs $4,000-8,000 per ton of cooling. So, for the Dallas average 1,842 square feet home, installing geothermal would cost approximately $24,000. But, running this system can cost up to 65% less than normal heat pumps. Over 10 years, that could save you as much as $15,000.
4. Heat Pump Water Heater
A heat pump water heater may cost triple as much as traditional water heaters, but it also uses less electricity. It works like an air conditioner running in reverse. Ambient warmth is absorbed by refrigerant and used to heat water.
Heat pump water heaters start at $1,500. But, it can save up to $330 per year. So, the return on the initial investment can come back within five years.
5. Insulation Best for Long Term Saving
Insulation reduces your heating and cooling costs. Plus, a well-insulated home has a higher overall property value. Fill in holes in exterior walls, seal around exposed pipes and wires. You can opt for double or triple-glazed windows, too. Best of all, the effect is immediate!
6. Attic Sealing for the Best Energy Efficient Home
Speaking of insulation, over 25% of heat loss comes from the attic. Attic insulation may cost $6,000 on average. But, in some cases, it may even save 50-80% of your annual heating and cooling costs. In the hot summer months, cooling your Dallas home can easily cost $100 per month. So, with proper attic insulation, saving $80 per month sounds like a worthwhile investment. Not to mention the positive impact it has on your property’s overall value.
7. Smart Thermostat Keeps Energy Bills Low
Studies found that smart thermostats can save around $50 per year on electricity. On average, smart thermostats cost $350. So, after 7 years, they even start to make you money.
8. Invest in Energy Star Appliances
From fridges to washing machines, choosing appliances with an Energy Star seal can save you a lot of money on electricity. These devices are certified energy-efficient, and they form a valuable addition to your new home.
9. Plant Trees
Trees don’t just improve your home’s ambiance. Planting shade trees strategically can save you money on electricity. In the winter, trees can block cold winds, and you won’t need to use your heater as much to keep your home at a comfortable temperature. And in the summer, the relief of a tree’s cool shade against the hot Texan sun can help your AC perform better.
Choose the Best Electricity Plan
With a new house, you also need a new electricity plan. Visit www.texaselectricityratings.com to find the best rates in your area.
