How to Save Money by Reducing Refrigerator Energy Consumption

To reduce your refrigerator's energy consumption consider the refrigerator energy saving tips provided in this article. To start, old refrigerators are the most likely category of refrigerators to waste energy. This is so because as refrigerators age, they can lose efficiency for a number of reasons. However, they can also be made to operate more efficiently, especially if they have been neglected, misunderstood or taken for granted for several years.

In other words, a little maintenance on refrigerators can go a long way and be done quite easily. Refrigerator maintenance, whether the appliance be new or old, can help improve the efficiency of a refrigerator and reduce your refrigerator's energy consumption. The reason refrigerator maintenance can be an effective way to improve refrigerator efficiency is that it can lower unnecessary energy consumption which causes a refrigerator to overwork and cost more money. A few tips that can be implemented in reducing refrigerator energy consumption are discussed below.

Ways to help reduce refrigerators' energy consumption

Sometimes it may seem nothing more can be done to improve a refrigerator's energy consumption, but as with many other things, small adjustments can be made. These small adjustments can add up cumulatively over time. A penny here, a penny there, many pennies can make a difference especially if the extra savings are used to pay off interest bearing loans. Below are some tips on how to reduce your refrigerator's energy consumption.

• Encourage air flow around the condenser under the fridge by periodically cleaning dust away with a brush. This extends the life of the fridge compressor which is the most expensive part of a fridge. "A refrigerator with a clean condenser coil will release heat more efficiently, operate with less strain on the mechanical parts, and draw less current. Essentially, your appliance will do a better job for less money." (www.motherearthnews.com)

• Maintain the seal around the fridge door. This seal is called the gasket. If air can freely flow through the gasket the fridge is not sealed properly and energy can be lost making the fridge less efficient.

• A refrigerator temperature of 37 degrees Fahrenheit and a freezer temperature of 3 degrees is believed to be ideal and economical. At these temperatures the fridge can still operate effectively and be more efficient on energy consumption than if set at higher temperatures.

• If the refrigerator one is using always has a lot of empty space it might be too big for your needs. In this case, It may be possible to exchange it for a more efficient and less expensive fridge to operate.

• Employ a fridge timer to prevent excess and redundant use of electricity. A timer may already be built into the fridge but if it doesn't the additional expense may be worth it.

• Removing fridge lights can also have an influence on the fridges energy consumption and these lights may be redundant if there is plenty of light in the room to see in the fridge.

Additional refrigerator energy saving tips

The rest is good common sense; leaving the fridge and freezer doors open for as little time as possible and reading the refrigerator manual (if it is still around) can point out how the refrigerator operates and which control settings do what. Familiarity with the fridge features will enable one to better adjust the settings for maximum efficiency and the manufacturer may have information on the model number if the manual is lost.

If the old fridge still has life in it and can be run fairly efficiently, it may not be a good time to invest in an energy star fridge just yet and just because it isn't an energy star fridge doesn't mean it can't be run more efficiently. By utilizing the tips in this article, reducing your refrigerator's energy consumption may be a more likely economic reality than had nothing been done at all. For additional ways to lower your refrigerator's energy consumption visit the following link on refrigerator efficiency techniques.

Sources:

1. http://powerscorecard.org/reduce_energy.cfm
2. http://www.horizonservicesinc.com/reference/tips-articles/refrigerator-maintenance-save-energy

Ways to Save Money with Household Thermostats

Thermostats are connected to furnaces, air conditioners and water heaters which can all be adjusted for efficiency and savings. They may also have batteries which when low may cause the furnace to turn off and on more than necessary. There are also thermostats for egg incubators, gas wall heaters, propane powered greenhouse heaters and 'tankless' water heaters.

Being familiar with how your thermostat works, what your needs are and what the highest and lowest temperature one's household can live with is the first step in obtaining maximum energy savings. Each type of thermostat has unique purpose through which energy savings may be garnered.

Appliance and utility thermostats

• Furnace Thermostats

Adjusting thermostat temperatures below 68 degrees is efficient in winter but only if the furnace is tuned up and has a new air filter. An inefficient furnace will do little for a well adjusted thermostat even though a well set thermostat will help reduce energy losses. In the case of furnace thermostats, the furnace can be set to turn on only when the temperature drops to a degree below the temperature setting rather than the same temperature as the thermostat setting. This half a degree to one degree difference can have an effect after a furnace turns on every 30 minutes 24 hours a day for several months of the year.

• Water Heater Thermostats

In the case of water heaters there are vacation, warm, very warm and hot settings. In the summer the warm setting can be quite sufficient to obtain a pleasant shower and in the winter it takes a little more 'umph' to warm up the water and keep it that way. Adjusting a water heater thermostat alongside a furnace thermostat appropriately can save money.

• Air Conditioner Thermostats

In the summer a setting of 72 degrees helps conserve energy as many central air conditioners simply aren't capable of cooling a house much below this anyway. Be being flexible with the range of temperature one is willing to endure through a slightly higher thermostat setting one can save money and energy.

Additional thermostat energy saving tips

Keeping a thermostat operational and fully functional is important in getting the most efficient use out of it. In light of this, being familiar with the thermostats programming and manual may be of particular relevance when correctly setting temperature changes in the home. Some of the following tips may be common sense to some, but knew to others.

Even those who are familiar with thermostat may benefit from becoming familiar with how temperature is measured and when a signal is sent to a furnace. For example, if the temperature is set for 69 degrees Fahrenheit the furnace may either turn on when the temperature hits 68 degrees Fahrenheit or after a period of time which the thermostat is programmed to prevent the temperature from reaching 68 degrees. This small difference in thermostat programming can add to energy costs.

• Replacing old thermostats

Replacing old thermostats with sophisticated programmable thermostats can help save energy by programming on and off times like a socket timer i.e. to only turn on when they are needed.

• Knowing the seasons

Typical temperatures for one's region and how one's home responds to temperature changes all help forecast when to set a thermostat to what temperature setting to maximize on energy savings.

• When a home is empty

During long periods of unoccupied home time it is also not necessary to have an overly warm setting as the walls don't really care how cold it is and plants and some animals can generally handle temperatures several degrees lower than people.

• Turning the thermostat up

Sometimes a small uptick in temperature during late spring through early fall is a good idea in several climates as this ensures the furnace will not go on at all for those little dips below 68 degrees which might not matter all that much in the middle of the night when everyone is supposed to be sleeping. The same applies for air conditioning in mid-late spring and early fall.

Summary

Thermostats don't have a brain and are relatively simple devices but they can help save energy if set and/or programmed in certain ways. Setting a thermostat for maximum energy settings is one step in greener, more environmentally conscious and energy efficient living. By applying the above techniques and tips, one is better equipped to more effectively manage a thermostats temperature settings for more energy efficient performance.

Tax Incentives for your Energy Efficient Home

Tax incentives for your energy efficient home are designed to 1) encourage national energy efficiency, 2) help consumers do so without going bankrupt and 3) to assist with economic stimulus. The energy efficiency incentives work by discounting the cost of the qualified home improvements on top of the cost savings those improvements make possible through energy efficiency.

The Internal Revenue Service and U.S. Department of Energy illustrate the tax incentives for your energy efficient home on their websites. The first two of the following three energy efficiency tax incentives are reported by the IRS news wire, and are listed below. The third incentive is also illustrated via the U.S. Department of Energy. These incentives can save a tax payer almost a third of the cost of upgrading a home for energy efficiency and take the form of tax credits rather than deductions.

How to make the most of energy efficient tax credits

Making the most of tax incentives for your energy efficient home involves understanding your costs. This is because a sunk cost into an energy efficient appliance, electricity supply or home improvement usually cannot be retrieved instantly. Thus, it is 1) important to know if the cost is affordable, 2) if the savings from the energy efficient cost can be realized effectively, and 3) if the tax incentive significantly improves the likelihood of 1 and 2.

To illustrate the realization of number 3 in the previous paragraph, a homeowner decides the cost of $10,000 worth of solar panels after installation must be recovered within 3-5 years in order for it to be worthwhile. Otherwise, the cost is too high because he doesn’t plan on living in the home for more than 5 years and wants to benefit from the savings.

After taking the non business energy property tax credit, the homeowner has lowered the cost of the solar panels to $8,500 through lower federal income taxes. He later learns that a similar state tax credit exists and claims an additional $500 using that for a remaining cost of $8,000. The solar panels save the homeowner $125 per month in electricity costs which is $1,500 per year. The homeowner also claims the Residential Energy Conservation Subsidy Exclusion credit after consulting with his accountant. This additional tax incentive saves the homeowner and additional $2,800. Thus, after the first year, the homeowner has recouped $6,300 or 63% of the cost of his solar panels and expects to recover the remaining cost in approximately 2.5 years.

(1) Non-Business Energy Property Tax Credit:

The Nonbusiness Energy Property Tax credit became law in 2009 and is set to expire at the end of 2010 meaning it can only be claimed on a 2009 or 2010 tax filing. The credit assists homeowners recover the cost of energy efficient improvements to their homes. Qualifying improvements include insulation and energy efficient window and door installation among other things. The credit is good for 30% of the cost up to $1,500 according to the IRS. (IRS)
(non-business)

(2) Residential Energy Efficient Property Credit:

IRS Form 5695 can be completed to claim the Residential Energy Efficient Property Credit. The residential Energy Efficient Property Credit has a cap of $2000 in addition to a cap on the percentage cost of a home improvement. This cap is 30% of cost like the Nonbusiness Energy Property Credit. The improvements that qualify for this credit can be viewed at the energystar.gov website and include geothermal, wind and solar home electricity sources. This credit does not expire until 2016 according to the U.S. Department of Energy. This information and other details about the credit can be found via IRS Notice and applicable law.

Investment related energy efficient tax credits

The following two energy efficiency tax credits are related to investments in either energy efficiency projects or utility improvements. These tax credits allow investors to potentially increase returns on investment and homeowners to potentially recoup additions costs associated with home improvements related to the installation of specific energy efficient equipment such as solar energy systems.

(3) Energy Investment Tax Credit:

This tax credit claim is made using IRS Form 3468. Private investors who invest money in qualifying energy efficient power producing ‘projects’ can credit 30% of their investment provided that it qualifies for the tax credit. This additional credit has the potentially to positively affect retirement planning and other financial planning as provided the investment does not decline in value, the credit can be viewed as a 30% return on investment. However, for this return to be directly realized, the tax credit must also be refundable if no income tax or capital gains tax at or above 30% of the cost of the investment exists. Other ways to benefit from the Energy Investment Tax Credit is via investment in businesses that can claim this credit.

(4) Residential Energy Conservation Subsidy Exclusion

Although open to interpretation according to the Database of State Incentives for Renewables & Efficiency, the installation of solar equipment or other energy efficient wind or geothermal equipment may be tax deductible of one’s gross income thereby lowering taxable income. This interpretation is made from Title 26, Subtitle A, Chapter 1, Subchapter B, Section 136 of the US Code which is statutory law made possible via the passing of legislative acts. (section 136)

This article discusses tax incentives for your energy efficient home but the content herein does not replace the advice of a tax attorney or accountant. The four tax credits discussed are federal incentives only and do not include the entirety of tax incentives for your energy efficient home. The tax incentives discussed are contained within the law governing the Internal Revenue Service and are further explicated via the IRS, U.S. Department of Energy and aforementioned Database of State Incentives.

Sources:

1. http://www.irs.gov (U.S. Internal Revenue Service)
2. http://www.dsireusa.org (Database of State Incentives for Renewables & Efficiency)
3. http://www.energy.gov (U.S. Department of Energy)

How to Save Money on Winter Heating Bills

To save money on winter heating bills and reverse the money flow from the electricity siphon there are actually quite a few options to save money. What's more some of these choices can be lifestyle adjustment free ways to save money on winter heating bills. In other words, winter heating bills can be lower while simultaneously living at the temperature you want with water temperatures that actually feel warm while saving money at the same time.

If residential relocation is an option, moving to a residence with a free electricity or gas rental agreement can save money on winter heating bills. Additionally, by relocating to a seasonably mild geographic area where the temperature never falls below 65 degrees Fahrenheit or rises above 85 degrees Fahrenheit may be possible. Understandably, these options are not always possible, practical or feasible in which case alternative solutions to save money on winter heating bills can be a good idea.

Ways to help save money on winter heating bills

• Prepay electricity when costs are lower

By prepaying for electricity during months when electricity is cheaper, money is saved when costs rise. Although the electricity may not be needed at the time it is bought, the upfront cost can be more than made up for by the savings incurred through rises in electricity costs in amounts greater than returns on the same investment that may be higher than the savings from prepaid electricity.

• Participate in an electricity cooperative

Electricity coops save money on winter heating bills by forming non-profit corporations that save money through lower electricity costs paid for by the coop members. Electricity cooperatives exist throughout the United States. To inquire about joining an electricity cooperative locate one that operates within your area and contact them for more information.

• Interest free green technology

By purchasing green technology that is financed interest free the future advantage can be appealing and save money on winter heating bills. This however depends on how long the interest free financing is for and how much the monthly expense is the benefits could amount to the acquisition of cheap or free energy for the same or similar prices already paid for.

• Property efficiency measures

The cheapest and most practical home improvements that save the most money on electricity may be the changes to consider first when it comes to saving money on winter heating bills. For example, affordable insulation can lower heating costs dramatically. Everywhere a property is exposed to the outside air, heat can escape. Sealing up these spaces with well purchased insulation can be well worth the cost after just a few months. Insulation cal also be used in cracks, around pipes, and around interior doors.

• Electricity generating exercise machine

To get in shape on those days when jogging outside might not be fun why not use an electricity generating exercise machine. As with interest free green technology, the upfront costs in comparison to the electricity saved plus intangible fitness benefits should exceed the amount paid for the electricity within a reasonable amount of time for this option to pay off.

None of the above measures necessarily require one to live at lower temperatures than desired or make use of colder water and that is what makes a few of them lifestyle adjustment free winter heating bill reducers. Some methods used to save money on winter heating bills may take a reorganization of priorities but could be well worth the cost when it comes to saving money on winter heating bills. Short of eliminating the heating bill altogether, which in some cases might be an option; there are a number of possibilities to help reduce winter heating costs.