Cut Your Fuel Bills

Have you heard that the cost of heating oil is going up this winter? This piece from Money gives us the details:

The government's Energy Information Administration projects that consumers will spend 34 percent more for heating oil this winter than last, 52 percent more for natural gas and 11 percent more for electricity.

So not only will we be dealing with higher costs to drive our cars this winter, we'll also face substantially higher costs to heat our homes.

Thankfully, Money offers some ideas for cutting your fuel bills this winter:

Get an audit. A home energy audit will pinpoint those areas where your money -- literally -- is flying out the window and provide suggestions for energy savings. Many utilities conduct energy audits for their customers for free or just a small fee.

Pump up your efficiency. There are hundreds of utility-sponsored programs around the country designed to help you make your home more fuel efficient. These include rebates on energy efficient appliances and light bulbs, incentives to weatherize your home and low-cost financing to upgrade to high-efficiency heating and cooling systems, to name but a few. Check with your local utility to see what it offers.

Go green for your next car. Beginning on January 1, 2006, buyers of hybrid cars will be eligible for hefty tax credits. The size of the tax credit will vary from model to model, but the folks at the American Council for an Energy Efficient Economy estimate that a Ford Escape Hybrid will net you a $2,600 credit, while the Toyota Prius will give you a whopping $3,150 back on your taxes. And of course, not only will you get a big break at tax time, you won't have to fill up that new car nearly as often.

Invest now for long-term savings. Plucking down hundreds of dollars for a new fridge or clothes dryer can be painful, but keep in mind that today's high-efficiency appliances can go a long way toward paying for themselves over time.

Today's refrigerators, for example, are more than twice as efficient as those manufactured in 1990, making them cost less than half to operate. Even smaller investments can make a big difference. For instance, compact florescent light bulbs cost more upfront than regular incandescent bulbs, but they use just one-fourth the energy and last ten times longer. Over time, that high-efficiency bulb is a much better bargain.

Solid ideas. I wonder how many people take advantage of the energy audit. Any readers out there ever do it? Can you share your experiences with us?

Comments

[Misty]

I've been eyeing the energy audit my electrical company offers, but they have some conditions for it--the main one being you have to have less than six inches of insulation in your attic. How would I know whether I have that? I suppose I should call them to ask what they suggest.

I AM taking advantage of their rebate program on flourescent light bulbs. I found a source for them that only costs 2.99 per bulb, and the electric company will reimburse 2.00 per bulb up to 10 bulbs.