This New Hampshire native's story proves that investment in renewable energy sources is not just cost-efficient in the short term, but also in the long term.
The scoop
Posted to the r/Frugal subreddit, this user recounted their experience investing in renewable technologies for their home, mostly run on electricity.
It started with installing a heat pump water heater and solar panels that produced about 5,000 kilowatt-hours per year for $10,000, which was paid off over 10 years in savings. They also installed four heat pumps and a clothes dryer, and the water heater immediately helped save money because their old water system burned oil all summer. It paid for itself within two years.
"Our oil burner died two years later, and we were able to install the heat pumps before the heating season came for about $4,000 more than it would've cost to replace the oil furnace," the post reads.
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How it's helping
Thanks to the heat pumps, which eliminated their oil usage, they were able to run the entire house on about 11,000 kWh of electricity a year, which cost them approximately $2,400 a year without gas or oil bills.
All these savings vastly improved the home's value and investment potential, which is often the case when innovative installations are made to turn a home into a smart home.
"Now we are moving, and are told the selling price for the home will be about $20,000 more because of all this. So a profit," the post reads.
Heating is one of the biggest causes of a high energy bill, so investing in a more efficient heating system in this way can save you money.
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Heat pump HVAC systems can heat and cool your home simultaneously and do not burn fuel to create heat, making them significantly more energy-efficient. Heat pumps are so energy efficient that they help reduce carbon pollution by running entirely electrically.
Finding the right heat pump system can be tricky, but companies like EnergySage can help you compare trusted installers and options in the marketplace.
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What everyone's saying
Naturally, everyone is drawn to ways to save money on their energy bills and improve the value of their homes, and commenters shared their own experiences with finding savings and opportunities through smart installations.
"Awesome!I replaced my 25 year old electric resistive heating with a heat pump. My winter bills are only slightly lower and my summer bills are higher, but I'm so much more comfortable," one user wrote under the post.
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