Wondering if new energy efficient appliances save money?

We have all seen the claims about how much money newer energy efficient appliances can save vs. your older ones. Check out this article with specific savings by appliance to see how much truth there is to those claims.

Posted 5:44 p.m. Aug 19, 2016 — Updated 5:44 p.m. Aug 19, 2016

The article, by Laura Foor, comes to us from The Dollar Stretcher. In it, she lists specific appliances and how much you will save each year using a newer energy efficient version vs. the much older one.

For instance, the article indicates that an older refrigerator will cost approximately $368 per year to use. The newer energy efficient version only costs $158 per year, a savings of over $2100 in the first 10 years.

At this point, our refrigerator is the oldest appliance we have and I am hoping it lasts for at least a few more years since I replaced the dishwasher and washer/dryer in the last year.

Will New Energy Efficient Appliances Save Money?

by Laura Foor

How old are your major appliances? More than 20 years? The longer you've owned an appliance, the more likely it's using more energy and costing you more money to run. In fact, you can expect your older model household appliances to cost you a minimum of 15% more when compared to a newer version.

Because older appliances can easily account for 20% of your homes total energy consumption, buying a newer model that's been certified as an energy rated appliance can help you save big. Although you'll initially spend a little more to buy the appliance, you'll be saving much more in the long run, making it worth this initial cost.

Head to Stretcher.com for the full article and list of appliances.

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