The “free” $259 Refrigerator
This is one of my favorite examples of how we think we’re saving money when in fact we’re spending much more than we know.
We all like free, especially when it comes to something functional, like a beer fridge in the garage. Does it keep the drinks cold? Yes, then it’s as good as a new one right? Not always, as we will see. Sometimes “free” costs more than buying new. Below are two tangible examples of what we face daily when dealing with energy consumption and the many products in our homes. The true cost of “free” or “already paid for” can sometimes be greater than buying a more modern and energy efficient replacement. Let me give you two real life examples that we have encountered with our clients:
“I already have a perfectly good toilet”. During a Home Performance Audit, we pointed out to a client that all of their toilets were of the older 3.5 gpf (gallons per flush) variety and that it would be a good idea to replace them. The client immediately pointed out that these were functioning perfectly well and that they were already paid for, why would he spend money to replace these? Spend money to save money? That’s just crazy talk. When it comes to something as functional as a toilet, it is often difficult to see any justification in replacing them, unless it’s part of a larger remodel to begin with. So we did a little calculating and discovered that his older toilets were in fact costing him over $200 more per year in utilities than a modern 1.3 gpf or better toilet. With three toilets in the house, a typical family of four can save 20,000 gallons of water per year by replacing the toilets with low flow 1.3 gpf toilets, more with the newer ultra low flow 0.8 gpf toilets. At roughly $10 per 1000 gallons (water used plus sewage rate) this customer could save $200 per year in unnecessary water and sewer fees, or said differently, after about 4 years, this customer will have recovered the cost or replacing the toilets and will now be adding more money to his wallet every year until they move.
The “free” beer fridge. While inspecting another client’s home, I noticed an old beer fridge, circa 1980’s. I mentioned that he should consider replacing this with a newer fridge. His response was that this one works fine and it’s just for extra drinks and beer, “it doesn’t have to be pretty or anything”. I pointed out that this fridge was likely costing him between $200-$300 per year to operate, while newer more efficient models cost less than $50 per year to operate. The client appeared a little skeptical and so I went out to my truck and installed a small device called the “Kill A Watt” meter which you can purchase at many local hardware stores or online for about $20. After a week of operation, the client called me back and told me that this fridge actually cost him $259 per year to operate. He quickly replaced his old fridge with a new model for less than twice that, meaning that within the first two years, his new fridge was paid for and he was now saving on his energy bill.
These two examples illustrate that what you don’t know can cost you a lot in the long run. Looking at all of these items is part of what we do every day during our Home Performance Audits. Give us a call or contact us via email to schedule your Home Performance Audit today. We help our customers save money.
You can use a “Kill A Watt” meter all around your house to test all sorts of appliances, big or small. You’d be surprised to see how much energy our everyday devices consume (and cost us), even when not in use.
