|
|
|
|
| The Basics | 12 ways to fight soaring heating bills
|
(Page 2) of 2
 Previous
- Swaddle water heater and pipes. Unless youve got a newer water heater that already has built-in insulation, covering your water heater with an insulated jacket ($17-$20) will keep costs down, especially if your heater is in an unheated place like a garage. Also, wrap water pipes ($1-$5 per 5-foot section) when possible, especially when they run through uninsulated areas.
- Winterize windows. If you cant afford storm windows, put plastic film on those windows ($6 covers three windows) where a clear view isnt crucial, which will curb drafts and keep windows from rattling.
- Buy a low-flow showerhead. A water-efficient showerhead (often less than $20) can use 25% to 50% less hot water, saving both on water and power bills, with little to no reduction in user satisfaction, says Prindle.
- Buy a smart thermostat. If youre the kind of person who forgets to turn the temperature down at night and before work, but who doesnt mind programming things like the TV remote control, a smart thermostat ($50-$100) can be set to change the temperature for you.
- Keep your furnace in shape. Its amazing how often a heating or air conditioning unit stops working because a $3 or $15 air filter is clogged, says Sachs. Replace the air filter ($4-$16) according to manufacturers directions and your heating system will operate more efficiently.
Oil-fired boilers should be cleaned and tuned annually, and gas systems, every two years ($100-$125). By maintaining your heating unit, you can save between 3% and 10% on heating bills, says ACEEE.
- Look for other insulation opportunities. Some well-placed insulation, especially in the attic of older homes, can save a bundle ($7-$16, in rolls from 22-32 feet, depending on insulation value).
First, however, Sachs recommends going into the attic and looking for black-stained areas on the edges of the fiberglass. Thats dust, and it shows where air is flowing up out of the living space. Sealing that area first will do more good than simply piling on more insulation.
By following all of the aforementioned strategies, the owner of an older home can likely save much more than 20% on heating bills, he says.
Thinking big
So youve spent the minimum and will now save a noticeable chunk of money. What else can you do in the future? Replace appliances, heating units, light fixtures and bulbs with high-efficiency replacements.
It costs money to save money, however. While an adequate vinyl window might cost $100-$150, a double-paned window with a low e-rating (thats a good thing) can cost $50-$100 more, says Nevil Eastwood, director of construction and environmental resources for Habitat for Humanity International in Georgia. That adds up, when youve got 15 windows in your house, Eastwood acknowledges.
Many experts therefore recommend buying high-efficiency windows and appliances as their predecessors wear out and you need to replace them anyway. Over time, the extra cost is recouped in improved efficiency.
If your furnace is over 20 years old, youre probably paying far more to use it, says Maria Vargas, spokesperson for Energy Star, a federal government-backed program that promotes energy efficiency and that lends its name to energy-saving products. Furnaces bearing the Energy Star label are about 15% more efficient than a standard conventional model, says Vargas.
A Chicago resident might pay an Energy Star premium of $1,400 or so on an average home furnace for that area, Vargas says, but the savings pay off the extra cost in three or four years.
Many utilities offer discounts or rebates on energy-saving products. Call and ask. Loans are also sometimes available for major improvements that will incorporate energy-efficient products or to purchase a high-efficiency home.
Thank you, George W. (sort of)
The Energy Policy Act of 2005 gives most of its $14.5 billion in tax breaks over the next 10 years to businesses, but it does throw a few bones to homeowners, says CCH Inc., a provider of tax and accounting information and software.
Homeowners who make energy-efficient improvements to existing homes can qualify for a 10% tax credit, up to $500. A credit is a dollar-for-dollar reduction in taxes, compared with a deduction, which only decreases taxable income. Improvements that can qualify include adding insulation, metal roofs coated with heat-reducing pigments, and energy-efficient windows, doors and skylights (though only $200 can come from windows).
Other items that meet certain criteria qualify for the credit with specific limitations, according to CCH: Advanced main air circulating fans can earn up to a $50 credit; some natural gas, propane or oil furnace or hot water boilers are eligible for up to a $150 credit; and qualifying electric and geothermal heat pumps qualify for up to a $300 credit. The credits can be taken on 2006 and 2007 returns, but the total credits for the two years cannot exceed the $500 maximum, says CCH.
Heres the hitch. The tax breaks dont kick in until Jan. 1, which means consumers have to decide whether to make upgrades now, or wait and pay higher fuel prices. Prindle, ACEEEs deputy directory, recommends this strategy: make any low-cost repairs and upgrades this fall, then invest in pricier upgrades as soon as the tax breaks kick in.
The act also gives homeowners a tax credit for 30% of the cost of buying and installing residential solar water heating and photovoltaic equipment, says CCH. The maximum credit is $2,000. Solar water heaters for swimming pools and hot tubs do not qualify. The credit, which expires at the end of 2007, also applies to homeowners who install fuel cells to supply electricity. The maximum credit is $500 for each .5 kilowatt of capacity.
Still need help?
If youre really in a pinch to pay that heating bill, some agencies and governments offer help. For example, the city of Bellevue, Wash., near Seattle, offers discounts for low-income seniors and low-income disabled and a tax rebate for all low-income customers who meet certain eligibility requirements. Contact your local utility or local Community Action Agency. National assistance for low-income families who want to make energy-saving home improvements is also available at the Department of Energy Web site.
|
|
|
|
