The Economics of Energy Efficiency Improvements
By Ryan Davies
CEC Director of Customer & Energy Services
Having a financial background, I have always placed a great deal of importance on the savings potential and cost effectiveness of an energy efficiency upgrade. One would hope that if they installed an energy efficiency improvement in their home or business it would pay for itself and then some over the useful life of the product. In most cases this holds true. Cost effectiveness is something that should always be considered. Everyone’s home and behavior is unique, and therefore each person’s potential savings is unique. The following chart is to be used as a rough guideline to the potential savings, and how that identifies with the useful life of certain energy efficiency improvements.
It is important to remember there are many benefits to installing energy efficiency improvements besides the immediate financial savings; some of which include increased comfort, improved home value, support to local businesses, and most importantly doing our part to be stewards of the environment. Remember that all of these reasons, and others, should be taken into consideration. If you would like to learn more about energy efficiency or any of our programs, please visit our website or call us to speak with an Energy Specialist.