We recently posted a case study about a client whose home is heated with propane gas. The home is being air-sealed, duct-sealed and the insulation improved. It is predicted the upgrade will pay for itself in about 3 years. This is a huge return on their investment, but you may wonder what does it look like over the long term?
If you multiply out the yearly savings from the upgrade over the life of that upgrade which is considered to be thirty years less the payback period, the savings comes to a whopping $30,000 at today’s energy prices. We know that over time the price of energy rises, so the actual savings will be greater than that.
What could you do with extra money?
So what happens to the money that isn’t sent to the utility company? Generally, we can assume it gets spent locally. If you have extra cash in your pocket because your utility bills are low, you can go out to dinner a little more often or to the movies. You might even splurge on something special for the house at the boutique shop down the street. These are luxuries which you might otherwise forego. In other words, by decreasing the amount of money you are paying to your utilities, you have the potential of stimulating the local economy, and benefiting everyone.
Nevada purchases a large part of its energy from out of state, depriving the local economy of its benefit. If every household, business, and government agency reduced its energy consumption, it would mean millions of dollars every year that would be freed up to be spent right here and support our own citizens!
Contact Energy Masters today and do your part to energize our local community!