Is it worth spending more for energy efficient appliances?
As the governments around the world become more serious and stringent about energy efficiency, the manufacturers are spending more on R&D to create environment friendly products which consume less electricity. The Governments make energy standards more efficient forcing companies to improve the efficiency of their products. As you must have observed already the prices for high energy rating products are higher as compared to other products. Many consumers get confused whether to spend more on products with higher energy efficiency or setter for ones with lower ratings.
According to one of leading energy standard “energy star” every year we spend more than $2200 on an average towards our power bill. Out of this amount approximately $300 is spend towards the power consumption of appliances like refrigerator, Oven, vacuum Cleaner, Air conditioner etc.
To arrive at a solution, first thing you should do is analyze your current electricity bills. Consult from your friends and relatives to understand if you are spending more on electricity as compared to average household. If any appliance at your home is more than 8-10 years old, it might be consuming more power than it should. Replacing older appliances (8-10 yr old) will be a good ideas as it will be needing repairs any time sooner and might stop working at the times you need them the most. Instead of spending on repair costs, you can go ahead and buy a newer energy efficient model.
If, on the other hand, you already have a newer appliance which is saving you electricity, there is not much need to upgrade. The only scenario for upgrade will be if there is a model which comes with some advanced energy saving technology that can save you a lot of money in the longer run.
Although, it is a fact that appliances which come with advanced energy saving technology come with a higher price tag, but you should not take this scenario for granted. Usually the higher price tag models come with a lot of extra features which add to the cost. If you shop smartly, you can find energy saving models at reasonable costs that won’t live too big a hole in your pocket. To save cost, you should buy the appropriate sized appliance for your home. Assess your family requirement, and go for bigger size models only if you need them. The large capacity appliances cost more as compared to their small size counterparts.
When choosing new appliance, always try to buy a product from an established brand. Buying from established brands assure peace of mind, as the products are usually high quality and deliver the performance as promised by the brand.