Various home improvements bring a really high return on investment. Energy efficiency projects rank among the most popular options. Many of these projects give access to an energy efficient home credit and their selection is connected to a vast range of additional benefits.
Wondering what kind of technology to invest in? Here are four of the best residential improvements targeting the property’s energy efficiency.
Ground Source Heat Pump Installations
This project will qualify your residential property for an energy efficient home credit and in addition, such systems happen to be one of the best options for decreasing heating and cooling expenses.
A ground source heat pump relies on geothermal energy – the heat generated by the Earth. There seem to be numerous misunderstandings about this installation and many people believe that the proximity of a hot spring is needed for a geothermal installation to become a viable option. Geothermal energy can be used in any part of the US for residential property heating and cooling.
The efficiency of a geothermal system can exceed 400 percent and every 100,000 homes relying on a ground source heat pump system reduce electricity consumption by 799 million kilowatt hours on an annual basis.
Energy Star Products
Products coming with Energy Star certification will bring a tremendous return on investment because they will result in significant electricity bill reductions.
Energy Star certification is available for more than 60 different product categories. A few light bulbs and fixtures can be an excellent start, in case you lack the funds to invest in more expensive items.
When it comes to Energy Star products, you can choose among common household appliances, electronics, water heating equipment and even office machines like printers, faxes and computers.
Energy Efficient Water Heating Systems
Traditional water heating can add anywhere between 490 and 530 dollars per year to your electricity bill because it accounts for almost 25 percent of a household’s energy consumption. Opting for an alternative form of water heating will help you save a lot of money and also enable you to qualify for an energy efficient home credit.
Solar water heaters are designed to provide hot water most of the year. The location and number of sunny days per year will be determining for the efficiency of the installation. Such systems cost anywhere between 1,500 and 3,500 dollars. The electricity savings produced by solar water heaters will make them pay for themselves within four years.
This innovative technology is another great option for reducing heating and cooling expenditure.
The system converts stored fuel into either heat or electricity. A fuel cell system can reduce a household’s carbon footprint significantly.
There is one problem with fuel cells that residential investors experience – such systems are still quite costly. Typical fuel cells cost approximately 50,000 dollars. An energy efficient home credit is available. You can take a credit of 30 percent of the system’s value (including installation expenditure). It’s also important to keep in mind that residential fuel cells can lower electricity consumption by up to 50 percent, thus the system has a relatively high return on investment.
An energy efficient home improvement can be executed, even if you can dedicate a small budget to this kind of project. Think about the energy saving that the system will produce, especially if you want to get the best possible return on investment.
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