Money Saving Ideas

There are many different ways to save money when you're a home owner. Some involve a bigger upfront investment such as new appliances, but the money savings seen from this investment can really add up! The direct economic savings reached by energy efficient appliances is in direct relation to how much the appliance will be used, the performance level of the equipment being replaced, and local costs for utilities. When you replace older equipment, it is not uncommon for electricity consumption for that appliance to decrease by 50% or more. In general, if the appliance being replaced is more than 15 years old, and it is replaced with a state-of-the-art unit, you may expect utility savings of 20%-60% compared with the energy required by the previous appliance. Horizontal-axis washing machines typically save consumers 50% in both electric and water utilities. Additional savings come from reduced quantities of detergent.
Your monthly electrical bill is for all electricity used by all electrical loads in the building, so changing a single appliance will lower the bill, but in proportion to the amount of electricity formerly used by that appliance. If refrigeration represents 15-20% of your electric bill, a new refrigerator that is twice as efficient as the unit being replaced will lower your total bill by about 7-10%.
Any increase in initial cost is usually more than made up in monthly savings. See ACEEE Consumer Guide to Home Energy Saving for more detailed information on appliances and savings.