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Thinking of going green? Today’s technology offers a whole host of ways to boost your home’s efficiency, reduce your carbon footprint and lower your energy bills. Some upgrades can pay for themselves in a relatively short amount of time, while others with large price tags might take decades to start paying back. The good news is that several studies have shown buyers are willing to pay a premium for green features—as much as 30% more for retrofitted green homes that become Energy Star or LEED-certified. This means that even if those fancy new features don’t pay you back right away in energy savings, you might still be able to recoup part of the cost when you sell your home. Below are the average payback times for some common items…just keep in mind that the actual payback time will depend on your initial costs and the amount of energy you typically use each month.
According to EnergySage.com, the average cost for adding solar panels to your home in King County is about $13,850 for a typical 5kW system (a net cost of $10,249 after the 26% Federal Investment Tax Credit for 2020). Based on the amount of energy they generate in our area, they usually pay for themselves in about 10.16 years. Furthermore, a study commissioned by the Department of Energy found that home buyers across multiple states and home types were willing to pay more for homes with solar panels (about $15,000 for homes with a 3.6kW system). This may help offset your costs should you need to sell your home before the payback period.
In addition to giving you endless hot water, tankless water heaters are also about 20% more energy efficient than traditional storage tanks and last about 10 years longer. However, their additional equipment and installation cost means it can take quite a while for your energy savings to cover that difference—12-20 years for electric models and 22.5-27.5 years for gas models. Their longer lifespan may ultimately help them pay off in the long run.
Looking for an easy investment with quick bang for your buck? LED bulbs may cost more, but the amount of electricity they save more than covers the cost. A 100W equivalent LED bulb costs about $6 to buy but uses only 13% the amount of energy of its incandescent counterpart. Used 4 hours a day, it also reduces CO2 emissions by a whopping 262.93 pounds per year. Depending on the number of bulbs you have and the frequency of their use, the dollar and carbon savings could really add up over time.
A feature of most modern green homes, smart thermostats save energy by automatically turning off the heating and A/C when you leave and learning your schedule to comfortably boost efficiency. Nest estimates an average yearly energy savings of 10-15% or $131-$145 with its Learning Thermostat, which means it would pay back its $200-$250 price tag in under 2 years. The ecobee4 is pricier at $300-$400 but claims to save 23% on heating and cooling (or more if you use their free eco+ upgrade). With heating and cooling making up a large chunk of your household energy use, smart thermostats could potentially take a nice chunk out of your carbon footprint as well.
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Community 10 Tips for Sustainable Gardening Sunny days are finally here, the flowers are in bloom, and the timing is perfect to give your garden some love. Having a healthy garden is one of the best ways to create a sustainable home and reduce your household’s carbon footprint. Below are some eco-friendly tips that will help to make your garden even […]
Real Estate Should You Remodel or Sell Your Home As Is? Homeowners who are preparing to sell are often faced with a dilemma about whether to remodel or sell their home in its current state. Each approach has its respective advantages and disadvantages. If you decide to remodel your home, it will likely sell for more; but the increased selling price will come at the cost […]
Living & Trends 2022 Home Trends Hello 2022! Life in the new normal goes on, and with it continues a trend toward all things natural and nostalgic. We’re still seeing the Scandinavian concept of “hygge” live on in warm accents and cozy textiles, but with a newer emphasis on “perfect imperfection” (known as “wabi-sabi” in traditional Japanese art). Irregular curves, handmade […]