Beat the Heat with 5 Energy-Efficient Home Improvements
This summer, save money on your energy bills and improve the comfort of your home with upgrades designed for significant energy and cost savings. These 5 home improvements will help you transition from fossil fuels to a cleaner, healthier home—along with getting a tax break!
#1. Clean cooling with an HVAC system. Consider replacing your current HVAC system if it shows signs of underperforming, well before it requires an emergency replacement. Recognize symptoms early to plan ahead: if your equipment is more than 10 years old, needs frequent repairs, causes increasing energy bills, or if you have an oversized unit resulting in ‘short-cycle’ wear and tear on the compressor, it may be time for an upgrade.
#2. Attic insulation that measures up. Low attic insulation levels and air leaks force your air conditioning to work harder, resulting in energy waste and discomfort. Check your insulation levels visually and measure the insulation depth. If the insulation is at or below the level of the floor joists, you probably need more insulation. Measure the depth of the insulation to determine how much more you need to achieve recommended levels. Note: insulation levels are specified by R-Value—the higher the R-Value, the better the thermal performance.
#3. A super-efficient water heater. Your water heater is the second-highest energy user in your home, consuming more energy than your refrigerator, clothes washer, dishwasher, and dryer combined. Upgrading to an energy-efficient water heater can save you hundreds of dollars annually on energy costs.
#4. High-performing windows. Upgrading your windows not only saves energy but also improves your home comfort level. And, you can recoup much of the cost of new windows from a higher home sale value. Choose energy-efficient windows that balance cold and heat: depending on the climate you live in some window styles are built to reduce air conditioning costs in the summer, while others help to keep you warm in the winter.
#5. Be smart about your thermostat. Nearly half of the average American household’s annual energy bill—more than $900—goes to heating and cooling. A smart thermostat lets you control your home’s temperature settings from your smart device (phone, tablet, or computer) using a wireless connection. Ensure the model you choose is compatible with your HVAC system, and opt for an energy-efficient smart thermostat that suits your needs.
Benefit from Energy-Efficient Taxes
Through 2032, federal income tax credits are available to homeowners allowing up to $3,200 annually, to lower the cost of energy-efficient home upgrades by up to 30%! In addition, homeowners can benefit from the modified and extended Residential Clean Energy credit, which provides a 30% tax credit for clean energy equipment, such as rooftop solar, wind energy, geothermal heat pumps, and battery storage through 2032, stepping down to 22% for 2033 and 2034.
When you are ready to make your new energy-efficient upgrade, An NIHFCU home equity loan can help take care of your summer funding needs with our cool home equity rates!
Resource: energystar.gov
