ThirdAge
Health Relationships Money Work Beauty Fun Classes Blog
- advertisement -
  Money
 Budgeting & Bargains
 Estate Planning
 Retire Well
 Classes: Register Now!
 FREE Workshops
 Money Quizzes
 
 

Lower 'scorching' winter heat bills

Page | 1 | 2 |

If you have a few hundred dollars to spend on making your home more energy efficient, you can expect to see a return on investment in one to two years, according to Szoradi. Consider the following:

- advertisement -

Saving with a small investment
Buy a programmable thermostat. At a cost of about $100, a programmable thermostat lets you lower the temperature of your home while you're at work and set it to rise before you come back home. The savings can be substantial because you can save between 5 percent and 15 percent by rolling the thermostat back 10 degrees to 15 degrees for eight hours a day, according to the U.S. Department of Energy which offers an online savings calculator.

Have your heating system serviced. Not only will servicing your heating system help ensure that it lasts as long as possible, but spending a couple hundred dollars for a tuneup can ensure that it runs as efficiently as possible, saving you money in the process. Get a tuneup every year for oil-fired systems, every two years for gas furnaces and three years for heat pumps, advises Randy Scott, vice president of product systems management for heating system provider Trane.

Blanket your water heater. Place your hand on your water heater. If it feels warm to your touch that means it's not well insulated and is losing heat, Szoradi says. A $20 water heater blanket could give it the insulation that it needs, but first check the unit manufacturer's specifications, warns Marston. "Some don't recommend the blanket and will void the warranty if the blanket is used," he says.

Change your window treatments. About one third of a home's heat loss comes from windows and doors, according to the U.S. Department of Energy. Add insulation to your windows by purchasing double cellular shades and thinking in layers, for example, adding thick draperies in addition to blinds or shades.

Enlist the aid of an efficiency expert. If you have a few hundred dollars to spend, consider hiring an energy auditor to use special equipment to identify areas of air leakage in your home. Armed with that information, you can have them correct the problems or you can caulk and weatherproof your home yourself. Seal ducts in attics, crawlspaces and unfinished basements and do wonders for your heating bill.

Humidify efficiently. Room and home-size electric humidifiers are widely available -- ranging from $25 for 700 square feet to less than $100 to cover as much as 2,000 square feet.

Making major renovations to your home to increase energy efficiency can run in the thousands of dollars, but if you're planning to live there for many more years, you'll make much of your money back over the next decade, Szoradi says. Here are some suggestions:

Spending more to save more
Replace your heating system. Because a heating system can run $10,000 or more, most people wait for their old systems to break down before buying a new one, says Marston. But if you're planning to buy one, spend the extra money for the most energy-efficient unit you can afford. Look for Energy Star-qualified models, which are 15 percent more efficient than standard models, the Department of Energy estimates. Figure out your savings by using this heating system replacement ROI calculator.

Replace windows, doors and skylights. Energy Star-qualified windows, doors and skylights use double- or triple-paned glass and special coatings that keep heat inside during the winter. For a big energy savings boost, consider making the investment. The increased insulation will cut down your heating bills -- and summer cooling costs -- over time.

Install ceiling fans. By rotating the blades in a clockwise direction, you'll be pushing hot air down from the ceiling back into the room, says Dave Walton, director of home ideas for North American energy provider Direct Energy. During the summer months, those same ceiling fans will also cut your cooling costs, providing year-around savings.

Bankrate.com's corrections policy -- Posted: Nov. 26, 2008
 
 
Create a news alert for "saving"
Page | 1 | 2
 
 RESOURCES
5 big bills you can cut fast
Drawbacks to utility equal-payments plans
Saving on energy costs
 TOP PERSONAL FINANCE STORIES
Video: 5 myths about going green
5 myths about going green
Video: Ways to keep produce fresh
 

Compare Rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.45%
48 month new car loan 3.77%
1 yr CD 0.89%
Rates may include points
RELATED CALCULATORS
  How much life insurance do I need?  
  Calculate your payment on any loan  
  What will it take to save for a goal?  
VIEW ALL  
BASICS SERIES
Begin with personal finance fundamentals:
Auto Loans
Checking
Credit Cards
Debt Consolidation
Insurance
Investing
Home Equity
Mortgages
Student Loans
Taxes
Retirement
FINANCIAL LITERACY
Rev up your portfolio
with these tips and tricks.
- advertisement -
 
- advertisement -

About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2012 Bankrate, Inc., All Rights Reserved, Terms of Use.

© copyright 1997 - 2007 ThirdAge Inc. All rights reserved.