Money Monday: How to save money on electricity costs by buying new appliances

Money Monday

LANSING, Mich. (WLNS) – In this week’s Money Monday, we’re going to take a look at easy upgrades in your home to help save the planet and save you money on your energy bills.

It’s all about appliances.

And while no one needs to run out and replace all their appliances, being ready to make a smart swap when the next one breaks is a step towards a greener future, one that starts with the blue Energy Star logo

Whether it’s your dishwasher or your refrigerator, your computer, or your television, look for the Energy Star to get those savings you’re looking for.

Also, look for the yellow Energy Guide labels. The Federal Trade Commission lists the cost of running an appliance and that annual cost should be a major consideration when you buy.

Not all swaps have to break the bank. You can find Energy Star-certified LED light bulbs for less than $1 each.

They use 90% less energy and will save you about $50 dollars per bulb over its lifetime.

And maybe the most important swap to prepare for your hot water heater. These cost about $600 a year to operate.

According to Lowes, the average lifespan of these tanks is just 10 years, so when your old tank needs replacing, consider a heat pump which is the holy grail of savings: over $400 a year.

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