How To Make Your Home More Energy-Efficient

Keeping a house humming with power requires a lot of energy. By making certain changes, you can significantly reduce your home’s carbon footprint and save money on energy costs.

Whether you’re looking to reduce your utility bills or live a more environmentally friendly lifestyle, here are some changes that are worth making to make your home more energy-efficient.

Why Have An Energy-Efficient Home?

Having an energy-efficient home is not just a contemporary trend; it's a practical and responsible choice for several reasons. Consider the following reasons to improve your home’s energy efficiency and engage with sustainable living:

• Lower utility bills
• Increase your home’s value
• Reduce energy waste and pollution
• Create a more comfortable home
• Some energy-efficient home improvements are tax deductible

How To Make A Home More Energy-Efficient

The journey to an energy-efficient home involves a strategic blend of practical actions and technological eco-friendly enhancements.

Start by having a detailed home energy audit. Then use what you learn to make improvements. The following are a few strategies to get started.

1. Install Smart Technology

Enhancing home energy efficiency through smart devices is pivotal. Consider smart lighting systems like Philips Hue, providing remote control and automation. Smart thermostats such as Nest Learning Thermostat optimize temperature control based on user behavior. Deploy smart power strips like TP-Link Kasa for efficient energy management. The integration of smart sensors and home automation hubs, exemplified by Samsung SmartThings or Google Home, streamlines device coordination, collectively contributing to reduced energy waste and lower utility costs.

2. Upgrade Your Appliances

Enhance your home's sustainability by integrating Energy Star-certified appliances, especially in the kitchen and bathroom. Opt for a refrigerator with the Energy Star rating, ensuring 15% lower energy consumption for efficient food preservation. Choose an Energy Star dishwasher to maximize water and energy efficiency during dishwashing cycles. Prioritize induction cooktops in the kitchen for precise temperature control and overall energy efficiency.

For water conservation in the bathroom, opt for an Energy Star-rated tankless water heater alongside low-flow toilets and WaterSense-labeled faucets, ensuring a comprehensive approach to energy-saving appliances and promoting sustainability with long-term savings.

3. Replace Your Windows

Energy-efficient windows use advanced technologies like multiple glazing layers, low-emissivity coatings and insulated frames to control heat transfer between the interior and exterior of a home. The glazing layers, often filled with inert gases, reduce heat conduction, while low-E coatings reflect infrared light to regulate temperature.

Insulated frames minimize thermal bridging, preventing heat loss through the window frame. By maintaining a consistent indoor temperature, these windows reduce the need for constant heating or cooling, leading to lower energy consumption and decreased utility bills. Overall, investing in energy-efficient windows proves to be a smart choice for homeowners, providing both economic and environmental benefits.

4. Switch To LED Lighting

Switching from traditional incandescent or fluorescent bulbs to LED lighting is a highly effective method for conserving energy in homes. LED bulbs operate with exceptional efficiency, using up to 80% less electricity than their conventional counterparts. Notably, they have a significantly longer lifespan, exceeding 25,000 hours, reducing the frequency of replacements and minimizing waste.

The versatility of LED lighting, allowing for easy dimming or brightening as needed, offers homeowners greater control over their energy usage. Overall, this transition to LED lighting not only leads to substantial energy savings and lower electricity bills but also aligns with a commitment to environmental responsibility by reducing both energy consumption and waste.

5. Get A Tankless Water Heater

A tankless water heater is an energy-efficient option for homes, heating water on demand and eliminating the standby energy losses associated with traditional models. By not continuously maintaining a large reservoir of hot water, these heaters efficiently deliver hot water directly to faucets or appliances when needed, minimizing the need for reheating stored water.

The on-demand approach significantly reduces energy consumption, leading to lower utility bills and a smaller environmental footprint. Additionally, the longer lifespan of tankless water heaters decreases the frequency of replacements, contributing to sustained energy efficiency. Overall, opting for a tankless water heater is a practical choice for homeowners seeking both energy savings and environmental responsibility.

6. Improve Your Home’s Insulation

Effective insulation is fundamental for conserving energy and maintaining a comfortable temperature in your home. Serving as a barrier, insulation slows down heat transfer between the interior and exterior, preventing unnecessary heat loss during colder months and acting as a shield against external heat in warmer weather.

Prioritizing attic insulation is crucial, as it prevents warm air from escaping living spaces below. This not only enhances energy efficiency but also lightens the load on heating or cooling systems, resulting in reduced energy consumption and lower utility costs. Consider investing in attic insulation as a key strategy for improving overall energy efficiency and ensuring a consistently comfortable indoor environment.

7. Consider Solar Energy

Integrating solar panels into a home offers significant energy-saving advantages. By converting sunlight into electricity, these panels reduce reliance on traditional grid power, resulting in lower electricity bills and long-term cost savings. Surplus energy can often be fed back into the grid, earning credits or reducing utility costs.

Beyond financial benefits, solar energy is environmentally friendly, diminishing greenhouse gas emissions and reliance on finite resources. With ongoing technological advancements enhancing efficiency and affordability, solar panels stand as a practical and sustainable choice for homeowners seeking both financial and environmental advantages.

Financing A More Energy-Efficient Home

There are various options tailored to meet the specific needs and preferences of homeowners looking to finance a more energy-efficient home.

• Home improvement loans: A home improvement loan is a specialized personal loan tailored for financing home renovations or upgrades. It provides homeowners with a lump sum upfront, repaid over a fixed period with interest. Requirements typically include a good credit score, stable income, documentation of planned projects, and, in some cases, home equity as collateral.
• Cash-out refinance: In a cash-out refinance, homeowners acquire a new mortgage with an increased amount compared to the existing one, enabling them to receive additional funds in cash for diverse purposes. Requirements typically include a good credit score, ample home equity and meeting the new mortgage terms, including income verification and a favorable debt-to-income ratio.
• Home equity loan: Utilizing the equity in their property as collateral, homeowners can secure a lump sum through a home equity loan. Requirements typically include a good credit score, adequate home equity and the ability to repay the loan verified through income assessment. However, it's essential to be aware of the risks, such as the potential loss of the home if unable to meet repayment obligations.
• Home equity line of credit: A Home Equity Line of Credit (HELOC) operates as a flexible revolving credit line for homeowners to tap into their property's equity. Like a credit card, it permits borrowers to withdraw funds up to a predetermined limit. Prerequisites for a HELOC generally include a favorable credit score, sufficient home equity and the capacity to manage interest payments.

The Bottom Line

Exploring ways, whether significant or minor, to enhance your home's energy efficiency can yield multiple benefits. Not only does it contribute to financial savings, but it also aligns with efforts to reduce your home's environmental impact.

For those contemplating financing options for substantial efficiency upgrades, a cash-out refinance proves to be an excellent choice. This financial approach allows you to leverage existing equity to fund improvements affordably. With typically low interest rates, the upgrades not only contribute to energy savings but also add value to your home. This dual benefit helps in building back equity.

If this option aligns with your goals, apply for a cash-out refinance today could be a prudent step toward achieving both financial and environmental gains.