Is an energy-saving Refrigerator Worth the Investment? A Practical Guide to Savings
Energy-efficient appliances help reduce electricity expenses and the harsh effect on the environment. Let's take a practical user experience of a 5-star-rated energy-saving refrigerator. This gentleman owned a 5-star-rated energy-saving refrigerator for three years and shared his expertise regarding savings with us.
Before
getting the 5-star-rated energy-saving refrigerator, he had a conventional one that
used a lot of power. He then decided to use a smart socket to measure the power
consumption. According to his smart power outlet data, His old refrigerator
consumed almost 550kWh a year. Energy prices were 12.5 cents/kWh then, so the
annual cost of running the refrigerator stood at nearly US$70. While this is
not much, it is evident that such an appliance would consume more power than
what may be required, and energy prices have started to move upwards.
Three years ago,
he decided to replace his old traditional refrigerator as the energy price
hiked to 16.5 cents / kWh from 12.5 cents. He bought an energy-saving
refrigerator at $529, whereas he spent only $249 for the conventional one,
which was only two years old. The new refrigerator was almost the same size as
the old one, but it cost more than double due to the energy savings feature.
Although, at first sight, this price difference seemed massive, it will be fine
for a smart person as the cost will recover over time.
He measured
the new refrigerator's consumption using the same smart socket and found that
it consumes only 200kWh a year, more than half what the old refrigerator
consumed. Even with the increase in energy prices from 12.5 cents to 16.5 cents/kWh,
the yearly cost to run the new refrigerator is $32. That is significantly
reduced from what he spent at $70, while the energy prices were considerably
lower.
Now, let's
break down some numbers and see it more clearly. The old refrigerator costs $70
a year; the new 5-star-rated energy-saving refrigerator costs only $32 a year,
saving $38 a year. Over the three years since he bought the new refrigerator,
he has saved $114 in energy costs alone in three years. Assuming it will last
at least ten years, it could save more than $380 if the energy price remains
constant at 16.5 cents / kWh.
But the
savings extend beyond just the electricity bills. The initial difference
between the two refrigerators was $280, with the efficient one being more
expensive. However, considering the continuous savings on energy costs, the
higher price of a 5-star-rated energy-saving refrigerator would make sense. He
would be covered for the extra $280 spent on the costlier refrigerator in eight
years. Also, energy prices will likely increase over time. As the cost of
energy rises day by day, the savings of a more efficient appliance can be even
more significant.
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| What if he uses the conventional Refrigerator till date or Energy efficient from 1st Year ( One additional Year added for better visibility considering the same amount) |
The environmental impacts of the two refrigerators are another issue. Since the old refrigerator used more energy than the new one, it has had a bigger carbon footprint. By switching to a more efficient one, you have reduced your environmental impact, which is vital in today's climate change and sustainability. This reduction in energy consumption over ten years amounts to 3500 kWh, which means a significant reduction of CO2 emissions depending on your local energy mix.
Besides saving money and saving the environment, there are a few more advantages of upgrading to a newer and more efficient refrigerator. Newer models boast better insulation and improved compressors, and most of them come with advanced features such as humidity control or adjustable thermostats, which, while conserving energy, still do a better job preserving the food. In general, the technology applied in more modern refrigerators is more reliable and capable of serving you longer, so you require fewer repairs and replacements, therefore adding to the overall cost savings.
While the
initial cost of these appliances can be a barrier, this case study proves that
in the long run, the benefits far outweigh the initial cost. In the case study
here, the individual didn't just save on his electricity bill; he reduced his
carbon footprint. The 5-star-rated energy-saving refrigerator is among those
good examples where an investment in energy efficiency pays off in many ways.
This case
study reminds those about to upgrade that while the initial cost is higher, it
will pay in the long run when the savings and environmental benefits kick in.
With increasingly higher energy prices, investing in energy-efficient
appliances is not only responsible but very smart on all financial fronts.
In
conclusion, though the buying cost for an energy-efficient refrigerator may be
higher, upgrading it would save you more. Not only does the updated technology
use less electricity, but it will also lower your electricity bill and carbon
footprint. Indeed, this case study proves that energy efficiency is worth
investing in, and it is one of the best decisions to make in energy-saving appliances
in the long run.
