The home energy makeover
Want to slash your monthly bills in half? These simple improvements will save you thousands on electricity, gas and water.
On average, homeowners spend close to $2,500 per year on electricity, water and gas, costs that are likely to rise in the coming years. In this article from Moneysense, we learn about several easy and effective cost cutting solutions that everyone can put to work in the home.
Installing a programmable thermostat is possibly one of the easiest ways to save. Installation is simple, the device itself is not expensive, and lowering your thermostat by only one degree can save 5% on your heating bill. Another surprising figure is the amount of heating and air conditioning is lost with small leaks in the home - approximately 30-40%. Simply sealing leaks with caulking or weatherstripping is a cost-effective fix that can save money over the long-term. Upgrading insulation in older homes can make a big difference as well, but with any larger home improvement project, it is a good idea to ask an expert before proceeding. If you are planning to do the work yourself, Natural Resources Canada offers a free online book: Keeping the Heat In.
Slightly more expensive investments such as new windows, air conditioners, furnaces and energy efficient appliances will save energy costs as well, but it may take longer to recoup the benefits.