Blog 4: How Much is the Electricity Bill?!
Is someone constantly reminding you to turn off the air conditioner or turn off the lights because they are not made of money? Well, get ready for a warm (and dark?) home as the costs to maintain preferred ambient temperatures is only going to increase!
According to the U.S. Energy Information Administration, in 2019, the average annual electricity consumption for a U.S. residential utility customer was 10,649 kilowatthours (kWh), an average of about 877 kWh per month – How does your current energy bill compare to the national average? Given increasing temperatures as a result of climate change, energy usage and the associated costs to cool a home during the warmer months are projected to increase nationwide. Moreover, the amount of time an air conditioner is run in an individual household is also projected to increase, as milder winters give way to warmer springs.
What about my HVAC?
Thanks for asking! When closing on a new home, identifying the status of an HVAC unit is one of the most important home inspection concerns, especially given the vast range of average retail electricity prices from state to state. As the climate continues to warm and average temperatures increase, prospective homebuyers now need to account for the remaining life of their HVAC unit more than ever. The older an HVAC unit gets, the more it will struggle to maintain cooler temperatures, thus further increasing your electric bill. Ultimately, regardless of the status of your HVAC, the climate is warming and the amount of energy needed to cool a home is on the rise. Know your risk!