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4. Electricity Use
Annual Savings $300
Between lights, electronics, and appliances, electricity accounts for almost 40 percent of the average home's energy use. But there are ways to cut back in each category without sacrificing.
By changing 10 bulbs and replacing three major appliances with energy-efficient models, you can save hundreds per year. As our survey found, many American are already taking advantage of those savings. Almost two-thirds have replaced an incandescent lightbulb with a CFL. As for appliances, 34 percent of respondents told us they've upgraded to an energy-efficient model. It doesn't make sense to pitch a perfectly good appliance or electronic item, but if you're in the market for a new one, the type you choose can make a difference. For example, side-by-side refrigerators use more energy than top- or bottom-mounts, top-loading washers use more electricity and water than front-loaders, and plasma TVs use more electricity than LCD sets.
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Easy, Low-Cost Solutions
Plug electronics into power strips with built-in sensors that automatically shut off devices that aren't in use. Set your computer to hibernate. Use LED holiday string lights. Turn off lights when you leave a room.
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Energy All-Stars
The EcoSmart 423-599 240EDXO-14 compact fluorescent bulb was the top performer in our tests. It replaces a 60-watt standard incandescent bulb and costs only $1.50.
The GE WCVH6800J, an $800 front-loading washer, scored excellent in both water and energy efficiencies, saving up to $125 per year over a traditional top-loader.
Good News: You're Being Audited!
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Unlike the IRS version, a home-energy audit can save you money. It provides a comprehensive assessment of your home's heating, cooling, and distribution systems; an insulation checkup; and a review of your energy bills. A well-trained auditor will also interview you to correct any inefficient behaviors. Audits have proven so effective at curbing energy use that Austin, Texas, requires home sellers to share their results with buyers.
Costs Vary
Certified auditors charge from $300 to $800. But you might not have to pay anything. Some local utilities offer free audits. If not, consider doing it yourself, especially if you think your home is relatively efficient. The Department of Energy's Web site, at www.energysavers.gov, has detailed information on do-it-yourself energy audits and links to finding local auditors. If the results of your DIY audit look bad, hire a professional for a more detailed assessment.
Check Credentials
Those who are certified by the Building Performance Institute (BPI) or the Residential Energy Services Network (RESNET) have undergone thorough training and will probably use a calibrated blower door and an infrared camera. Those tools enable the auditor to quantify the amount of air leakage and the probable effectiveness of any air-sealing job.
Though RESNET stops with the audit, BPI also has certified contractors who are trained to make necessary fixes, plus third-party inspectors who ensure compliance with BPI standards.
Bottom Line
Not all energy-saving projects are equal. So have the auditor prioritize any suggested work by savings and payback time.
Also remember that not everyone who hangs a green shingle has the training to identify inefficiencies. There are eco-consultants, who might charge $99 for a 60-minute walk-through of your home, pointing out leaky faucets and inefficient lightbulbs. Then there are general contractors who see energy efficiency as the one bright spot in an otherwise shrinking industry. Last but not least are single-product salespeople. "Homeowners have been hearing forever that replacing their windows can save 40 percent," says Chandler von Schrader, head of the Environmental Protection Agency's Home Performance with Energy Star program. "These claims aren't justified and they create a false expectation."
Energy Tax Credits At a Glance
Uncle Sam wants you to save energy, and he's putting his money where his mouth is. The American Recovery and Reinvestment Act of 2009 includes tax credits for making your home more energy efficient. The credits cover 30 percent of projects finished in 2009 and 2010, up to $1,500 per year for most projects. But they don't include installation costs for insulation, sealing air leaks, windows, doors, and roofs. Solar, wind, and geothermal projects qualify for up to 30 percent of their cost, not just $1,500.
Unlike deductions, tax credits directly reduce the amount of tax you owe. If the project involves renewable energy, such as solar or wind, the cap is waived and the credit can be carried over to future years. If you're subject to the Alternative Minimum Tax, you might want to get your project done in 2009 because the tax credits will be limited by the AMT in 2010 unless Congress changes the law. To claim the credits, you'll need to file IRS Form 5695 with your taxes for the year in which the job was completed.
Be sure to keep a copy of the Manufacturer's Certification Statement and all receipts and itemized bills. Actual costs and savings will vary depending on the size, age, location, and condition of your home.
Federal energy tax credits don't cover appliances, programmable thermostats, and room air conditioners, but state governments and utility companies often offer rebates on energy-efficient models. For more information, go to the Database of State Incentives for Renewables & Efficiency, at www.dsireusa.org.
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