Buying a new appliance can feel daunting. Before you hand over your hard-earned money, here’s how to choose an appliance that will help you save money over time.
When shopping, keep in mind that not all new appliances are high in energy efficiency and not all old appliances are inefficient. The less efficient your current appliance, the more you will save with an upgrade. The yellow EnergyGuide label on new appliances shows the yearly energy cost, kilowatt-hour electricity use and ENERGY STAR logo, if certified.
Let’s look at some appliance examples to see how the costs and savings stack up. Refrigerators have seen major efficiency improvements over the years. New refrigerators use up to 73% less energy than 1970s models and about a third less than 20-year-old models.
My mom proudly shows off her 1980s refrigerator she bought when her 1970s Harvest Gold model died. If her ’80s fridge uses 2,000 kWh per year, at 14 cents per kWh, it costs $280 per year to operate.
New ENERGY STAR-certified refrigerator prices start at $500 with yearly energy costs ranging from $38 to $122. If mom buys a new ENERGY STAR-certified refrigerator for $1,000 with $100 yearly energy cost — saving her $180 per year — it will pay for itself in less than six years.
If you intend to keep your old appliance, be sure to weigh the additional energy costs. Maximize efficiency and keep your food safe by setting your refrigerator to 37 degrees and your freezer at 0 degrees.
New ENERGY STAR-certified clothes washers and dryers are also more efficient than older models. Use the ENERGY STAR Product Finder at energystar.gov to compare products. Integrated Modified Energy Factor measures the washer’s energy efficiency. A higher number is better. Integrated Water Factor measures water efficiency. A lower number is better.
I recently bought a new washing machine when my old front-load machine died. I was considering a top-load machine. When I compared ENERGY STAR-certified top loaders to front loaders, I changed my mind. The front loaders use about 50% less energy and water than top-load agitator washers and about 25% less energy and water than top-load impeller washers that don’t have an agitator.
My new washer cost $698. According to the appliance’s EnergyGuide, based on six loads of laundry a week and an electricity cost of 14 cents per kWh, the yearly energy cost is $15. Similar non-ENERGY STAR-certified models were $48 per year. Mine didn’t cost much more than non-ENERGY STAR models and will help me save over time.
Then I had to make the decision about buying the matching dryer. My dryer was functional but had features I didn’t like. At 14 cents per kWh and running roughly six loads a week for an hour each, my old dryer used $131.04 per year.
The new matching ENERGY STAR-certified dryer cost $698 and estimates annual energy use at 607 kWh, which is $84.98 per year at 14 cents per kWh. With an estimated savings of $46 per year, the dryer would take 15 years for the savings to cover the price. That’s a long time and not worth the cost.
To improve your washer and dryer efficiency, wash in cold water, don’t overdry clothes and clean your lint trap between every load.
Whatever appliance you are upgrading or replacing, make an informed decision by comparing the cost of operation and shopping ENERGY STAR models to help lower your electric bill.
