No Brainer Money Saving Tips

Here are several ways to get a great payback on energy-related improvements to your home:

• Adding insulation to your attic: Cost: $500 to $1,000; Payback: $500 to $1,000 a year
• Cover ducts: Cost: $50 to $250; Payback: $500 to $1,500 a year
• Get a programmable thermostat: Cost: $50 to $250; Payback: $500 to $1,500 a year
• Seal cracks: Cost: $15; Payback: $500 a year
• Wrap water heater: Cost: $40; Payback: $100 a year
• Service furnace: Cost: $100 to $200 per unit a year; Payback: $300 to $500 a year

Overall, the article says you can invest $1,500 and save $4,000. Of course that means you have to have some things to fix. If you've already covered all of these, there's no savings for you. Then again, you've been saving all along so congrats are due!

Comments

We just installed a programmable thermostat and insulation in our house. These savings are higher than we estimated, so I'll be happy if they are correct. Our costs were lower too. The insulation was about $120 and the thermostat $30. :)

[BigBoy]

I just bought a house this past week and i had the insulation company give me a quote and it will be $973 to add 1500#'s of insulation to an attic that currently has an R value of 5! and when they finish it will be at an R value of 45!
Amazing how little insulation is currently there, i am looking forward to lower gas bills.

[BigBoy]

I just bought a home this past week and i had the insulation company quote me $973 to install 1500#'s of insulation. there is currently only an R value of 5 and when it is done it will be at 45 R value.
looking forward to saving some gas!

[LC]

BigBoy - R45 is only necessary in the coldest regions. R19-R30 should be plenty in most areas. They also say that the 1st 6" gives you the most bang for the buck, so if money is an issue, you may want to consider that. If you are having a professional do it, you may want to ask about the spray foam insulation, since that is the best. If you are good at DIY projects and have a few willing friends, blowing in the loose fill only takes a few hours and is only about $6 for 40 sq ft of R19. You can rent the machines at Lowes (free with 20 bags or more).

[rkudasik]

I would add that included in wrapping your water heater is insulating your pipes. While you're down there I would turn down the temp to 110 degrees. No reason to have it any higher. I actually have mine lower.

I was amazed to see actual savings within the first month after doing these two things.

[rwh]

Do you need to wrap a new water heater with an efficiency rating of 0.62 or higher?

[BigBoy]

LC -
Thanks for the information - I live in Wisconsin so it gets pretty cold up here. I will have to find a few willing friends as saving a few extra bucks doesn't hurt.

[LC]

I think a water heater blanket is only going to save you money if it feels warm when you touch it.

[kentuckyliz]

I've seen shows where people mount solar panels on their roof to generate their own electricity, and more, and they sell the extra power to the power company. They're on the grid in case they need more power than what their system can provide.

I think it would be cool to get paid by the power company each month rather than the other way around!

[money,saving,tips..from bill.]

Love the insulation summary. It's not often that you find something that will pay for itself within a year. Compact fluorescent bulbs fall in that category as well, each one saves $7-9 a year.