Modifying our behaviors to save the planet is a worthy aim in its own right. But sometimes, what’s better for the Earth is also better for us.
For example, research shows that the most eco-friendly diet, high in plant-based foods, simultaneously reduces our carbon footprint and improves our health. The same dynamic applies to increasing the energy efficiency of our homes: Using fewer resources equals paying lower utility bills. It’s a win-win situation.
Best of all, you don’t have to make enormous changes to see substantial savings. Here are energy-efficient steps for every budget and effort level, from tiny fixes to bigger renovations.
5 ways to invest in energy efficiency — and your own financial wellness
According to the Energy Information Administration, the average electricity bill in the United States was $138 per month in 2023. That comes out to more than $1,600 per year, without factoring in water, sewer, natural gas or garbage removal services.
Good thing there are so many ways to mitigate those costs, including projects you can complete in a single afternoon. You may even be able to finance the costs with an energy-efficient mortgage (EEM).
Here are five ways to make your home more energy efficient — and your life more affordable.
1. Seal leaks
A tube of caulk can cost less than $5 — but can reduce your energy costs by up to 30% if you live in a particularly drafty home, according to the U.S. Department of Energy.
Sealing spaces around windows, doors or other areas where warm air can leak out of (or into) your home can help you reduce the amount of energy and money you spend on cooling or heating, not to mention making the living temperature more comfortable. Better yet, it’s very DIY-able (though you may need some practice to get the best-looking results with your caulking gun.)
2. Switch to energy-efficient lighting
Keeping the lights on may seem like a small fraction of your overall energy expenditure — but for the average household, it accounts for 15% of the bill. According to the electricity bill estimate above ($138 per month), that means spending almost $250 per year on lighting alone. What else could you do with that money?
Switching to energy-efficient LED bulbs is a project that can be completed in just a few hours. And while LED bulbs are more expensive up front, they can use up to 90% less energy and have a lifespan 25 times longer than their incandescent counterparts. To really up the ante, put timers or dimmers on frequently used lights to ensure they’re not drawing unnecessary power when you don’t actually need them.
3. Install a smart thermostat
Imagine waking up to a cozily warmed room after falling asleep in a delightfully chilly one — all without lifting a finger (and while noticing your energy bills go down).
Smart thermostats can make that fantasy a reality, and more. While you can program a traditional thermostat to raise or lower the temperature at specific times, a smart thermostat can “learn” your family’s habits over time, automatically scaling back the heating and cooling during the times when you’re away from home and cranking it back up when you’re there to enjoy it.
The average installation cost is relatively affordable (about $200), and it could save you as much as 10% of your energy bill per year. This means it'll only take a little more than a year for the device to pay for itself.
4. Replace windows
If you’re willing to take on a bigger project, opting for energy-efficient windows could be well worth your time and money. While they can cost as much as $1,000 per window, they can also decrease your energy bill by 12%. Your actual costs and savings depend on factors like the size of your window and the climate in your area.
If you live in a storm-prone area, consider hurricane-impact windows. These come with dual panes, which can keep your home's temperature consistent. They also cost a lot less than windows marketed for energy-efficiency. The other benefits of hurricane-impact windows include a possible insurance discount and better protection if a hurricane does strike in your area.
5. Consider solar
Yes, it’s a substantial project, and yes, it’s expensive: Upgrading to solar could cost as much as $30,000. However, many states offer tax benefits and rebates for homeowners who install solar panels, which can reduce your out-of-pocket expenses.
The actual benefits of going solar depend on your power usage and the amount of sun you get in your area. However, many experts estimate that solar panels typically pay for themselves within seven to 10 years, making this an eco home improvement for the long game.
Solar panels can also increase the resale value of your home, which makes it an investment with dividends for yourself and the planet.
