Want to cut down on energy consumption around your house? Want to see it reflected in your monthly bill?
Look around your home. Chances are you’re wasting money on energy every month without even knowing it.
The majority of homeowners have no idea where their energy is going.
That’s because small problems compound over time. Cracks in windows. Leaky ducts. Single-pane windows. Limited or poor insulation.
Before you know it, your energy bills have doubled… and you have no idea why.
The good news?
You can renovate your home to begin saving money on energy bills. You don’t need to spend thousands either.
There are simple and inexpensive renovations that can:
- Save you money on energy bills
- Be easily accomplished
- Pay for themselves
Let’s dive in!
What you’ll discover:
- Where Your Energy is Going
- Smart Renovations that Save
- Prioritise Your Renovations
- Save Money Forever
Where Your Energy is Going
The average home spends almost half of its energy use on heating and cooling.
But did you know that homes that aren’t properly sealed or insulated can spend even more on energy bills?
Once you understand your home’s daily home kwh usage, it becomes easier to see where you can improve.
The issue is most homes are spending money on energy they don’t even realise they’re using.
Your air conditioner isn’t really blowing “cool air.” It’s blowing air that your body perceives as cool because it’s removing humidity and heat from the air.
The same is true for heating.
Unfortunately, there are hundreds of weak points around your home where energy is leaking out. Windows. Doorframes. Poorly insulated attics.
The key is figuring out where your home is losing energy.
Then you can set about plugging those leaks.
Smart Renovations that Save
Now that the biggest sources of energy waste are clear… Let’s talk about how you stop them!
Insulation
Insulation isn’t just for winter.
If your home is poorly insulated or hasn’t been renovated to retain heat, you’re losing money. A lot of it.
You can reduce heating costs by up to 15% simply by sealing up your home and adding insulation to your attic and/or basement.
Did you know that approximately 90% of homes are under-insulated?
That’s right. Nearly every homeowner can benefit from adding more insulation to their home.
Make sure to cover these areas specifically:
- Attics: Warm air rises. If you don’t have adequate insulation in your attic it will escape faster than from any other area of your home.
- Basement rim joists: These are air leaks you can’t see and most people forget about when weatherizing their homes.
- Outside walls: While it might be difficult to add insulation to the walls of your home, many renovation projects offer the opportunity to insulate exterior walls.
Windows
Everyone loves natural sunlight, but the windows you have in your home can greatly contribute to energy loss.
Heat gain and loss through windows makes up for 25-30% of your heating and cooling needs.
One of the easiest swaps you can make is to replace older single-pane windows with Energy Star Certified windows.
These newer, energy efficient windows can save you up to 13% on your energy bills annually.
If you live in a colder climate, upgrading from single pane to double or triple pane windows can save you even more on heating bills.
HVAC
Your heating and cooling system has been mentioned a few times already. That’s because it consumes more energy than any other appliance in your home.
Upgrade your heatpump or HVAC system to a high efficiency model and you could save between 10-30% annually on your energy bills.
Another thing to consider is ductwork.
Make sure any leaks are properly sealed. You can improve efficiency by 20% or more by simply sealing leaks.
Finally…
Smart Thermostat
…and you already know about thermostats because you’re reading this article.
Smart thermostats take the guesswork out of heating and cooling.
Not only can a smart thermostat learn your household’s schedule and adjust accordingly, it can help you save money on energy.
Automatically programming your thermostat to a comfortable setting when you’re home and reducing temperature when you’re away can reduce your energy consumption without you having to lift a finger.
Prioritise Your Renovations
There’s no one-size-fits-all approach to energy efficient renovations.
Your home is unique and your energy usage is different than your neighbors.
That being said, if you start with an energy audit, you can quickly identify where your home is losing energy.
From there, renovate your home in the following order:
- Seal up air leaks
- Install insulation where needed
- Replace old windows (ie: single pane)
- Upgrade heating and cooling systems
- Install Smart thermostat and/or Energy Monitor
Renovations like air sealing and insulation give you the quickest return on investment.
Window and HVAC upgrades typically have the largest impact on energy bills, but take a little longer to recoup their costs.
Smart thermostats can also reduce energy consumption, allowing you to make the most out of your expensive new HVAC system.
Save Money Forever
There are tons of government incentives available for homeowners looking to make their homes more energy efficient.
The good news is that most energy efficient renovations qualify for at least a 30% tax credit.
That means if you install insulation, seal air leaks and upgrade windows, you could see an immediate 30% reduction in your costs.
The Energy Efficient Home Improvement Credit will even pay you up to $1,200 per year in tax credits for these expenses.
Need an even bigger incentive?
Homes that have been upgraded to be more energy efficient sell for more on the housing market.
According to Freddie Mac, energy efficient rated homes sell for 2.7% more than non-rated homes.
They not only save you money every year on your energy bills. You’ll make that money back (and then some) when you go to sell your home.
Wrapping Up
Cutting energy costs doesn’t have to be difficult.
As long as you know where to start.
Here’s a recap of what was covered in this article:
- Audit your home and figure out where you’re losing energy
- Start with low hanging fruit like air sealing and insulation
- Move onto bigger renovations like windows and HVAC systems
- Take advantage of government rebates and incentives
- Enjoy lower energy bills month after month
The biggest mistake homeowners make is not knowing where to start.
By following this simple guide, you’ll be saving money on your energy bills in no time!
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