Energy Efficiency: How Small Upgrades Can Save You Big Money

Energy Efficiency 

How Small Upgrades Can Save You Big Money

Energy Efficiency: The Key to Lower Bills and a Higher Home Value

Energy efficiency isn’t just a buzzword—it’s a smart way to reduce your monthly bills and increase your home’s overall value. For homeowners, these improvements can result in significant financial benefits, whether through lower utility bills, attractive mortgage options, or higher resale value. Let’s explore how making small changes can lead to big savings.

How Much Can You Save?

Homeowners can typically reduce their energy bills by 10-30% after making energy-efficient upgrades, equating to an average savings of $100 to $300 per month. The exact savings depend on the size of the home, its location, and the types of improvements made. Whether it's upgrading windows, adding insulation, or installing solar panels, the savings can quickly add up.

Financial Benefits for Homeowners

1. Lower Utility Bills: Energy-efficient homes use less power for heating, cooling, and lighting, directly lowering your monthly utility costs.

2. Increased Home Value: Homes with energy-efficient upgrades like insulated windows or solar panels sometimes sell at a premium. Buyers may be willing to pay more for homes that offer long-term savings on utilities.

3. Improved Mortgage Options: Some lenders offer energy-efficient mortgage programs with better rates for homes that have energy-saving upgrades. This could help you finance these improvements on more favorable terms.

Utility and Tax Incentives

If the savings on your utility bills weren’t enough, there are also numerous rebates and tax incentives available:

• Utility Rebates: Many utility companies, like PECO, offer rebates when you invest in energy-efficient appliances or HVAC systems. PECO even provides free in-home energy check-ups and installs energy-saving items like LED bulbs, air purifiers, and smart power strips.

• Federal Tax Credits: You can claim credits for installing solar panels, energy-efficient windows, or insulation. These credits reduce the cost of going green and make upgrades even more attractive.

• State and Local Incentives: Some states, including Pennsylvania, offer additional rebates or tax breaks for energy-efficient upgrades, making it easier to get started.

Top Energy-Saving Upgrades

Curious where to start? Here are some of the most impactful upgrades:

• Solar Panels: They reduce reliance on the grid and can significantly cut energy costs. Be thoughtful about whether you are paying up front for the panels or leasing them as a prospective buyer will need to take on a lease.

• Energy-Efficient Windows & Doors: Upgrading to double or triple-pane windows keeps your home insulated, lowering heating and cooling expenses.

• Insulation: Adding insulation to your attic, walls, and floors helps maintain indoor temperature, reducing the need for excessive heating or cooling.

• Smart HVAC Systems: Upgrading to energy-efficient HVAC units or installing smart thermostats can regulate temperature more efficiently, lowering energy use.

• LED Lighting: LED bulbs use up to 75% less energy than traditional lighting, providing quick savings.

• Energy-Efficient Appliances: Energy Star-rated appliances, such as refrigerators and washers, consume less power and can drastically lower your energy bills.

PECO’s Programs and Rebates

PECO offers a variety of programs to help customers save, including free in-home energy assessments. During these visits, an Energy Advisor will suggest ways to save money and even install free energy-saving items based on your home’s specific needs. You’ll also receive a customized report with recommendations tailored to your home. You can explore PECO’s rebate programs for appliances and HVAC equipment, giving you even more reasons to upgrade.

Energy-efficient upgrades not only reduce your monthly expenses but can also increase your home’s resale value. By taking advantage of utility rebates, tax incentives, and energy-efficient mortgage options, you’ll make your home greener and your wallet happier. Whether you’re considering new windows, a solar panel installation, or simply upgrading to LED bulbs, these small changes can lead to big savings.