These days, most homeowners who are choosing to repair, replace, or upgrade aspects of their home are motivated primarily by their budget and the environmental impact of their choices. Both of these concerns — their own bottom line and the environmental consequences of their choices, need to be weighed and balanced when making final decisions about where to spend their home repair or upgrade budget. The Washington Post recently did an analysis of some of the most popular home improvement upgrades, to see which really pay off the best over time (while also reducing your environmental footprint). The best choice may surprise you!
Solar Panels
From an intuitive perspective, solar panels just make sense. They give you a way to store, harness, and use absolutely free energy that is already falling on your roof. And if you live in a warm part of the country, you’re actually spending a lot of your yearly home utility budget fighting off the effects of that energy through your expenses on air conditioning. Why not turn that expense into a benefit?
The truth is, solar panels can be a really great choice, for some homeowners in some areas. But your individual financial benefit (and therefore, the number of years it will take you to pay off your investment in solar panels) is going to vary a lot based on where in the country you are, which direction your house faces, and how many trees interfere with the sun’s rays landing on your roof. (Though on the plus side, if you have trees blocking the sunlight from reaching your roof, those trees are already giving you a reduction in your home cooling bills.)
The average homeowner makes back their investment in solar panels in about 7 years … but this number varies significantly, and you should talk with a professional solar panel installation company to find out about how well suited YOUR house is to this upgrade before you decide to proceed.
Heat Pump
Switching from natural gas or oil for home heating has become an increasingly popular choice for homeowners. Many of these homeowners are motivated by the positive impact on the environment — running your own little fossil fuel plant at home doesn’t create a great feeling in terms of protecting the planet. And, as it turns out, heat pumps do a great job of reducing energy usage. Because heat pumps work by moving heat from outside of the house inside (or vice versa, in the summer) rather than actually generating heat, they use much less energy than traditional air conditioning or heating units. However, because of their relatively high cost (though subsidies and rebates are available through government incentive programs), it can take a long time to see a return on your financial investment.
The benefits of a heat pump depend a lot on your geographic region, and the type of heating/cooling system they are replacing. Opting for a heat pump as a home improvement with the goal of financial benefit will have to be a decision based on your personal household circumstances — it can take as many as 48 years to recoup your investment from installing a heat pump … or as little as 8, depending on your situation.
Insulation
Improving and updating your home’s insulation can be one of the most cost-effective ways to improve your home’s efficiency and benefit the environment. The good thing about insulation is that it is (comparatively) inexpensive to install, and you can benefit regardless of your region or the season. Improved home insulation keeps the cool (or hot) air in and the hot (or cool) air out, reducing your energy bills because you aren’t paying to heat the neighborhood. And if you upgrade your siding at the same time, the reduction in air escaping from your home can be even better (though that is a more expensive undertaking). Another benefit to improving your home’s insulation is that you may notice an almost immediate improvement in your level of comfort in your home — drafts, as well as hot and cold spots, can be significantly reduced right away.
It makes sense to make home improvements and upgrades with an eye to your comfort, your bottom line, and the cost to the environment. Consider which improvements are right for your home and your region of the country. To find out more, call your local home exteriors company, particularly for help with sealing and insulation. Here in Cincinnati, we can help you here at Harper Siding and Roofing with any work on your siding, roofing, home insulation, and more. We’re the Cincinnati home insulation company for all of your eco-conscious home improvement needs.