Your energy bill is a significant part of your monthly expenses, but you can whittle it down. Energy-efficient appliances use less power and cost less to own, as well as being good for the environment because they cause less pollution.
The Inflation Reduction Act offers significant financial incentives for making the switch. Whether you're in the market for a replacement device already, or you're planning future home upgrades, keep these five energy-efficient options in mind.
Heat pumps work by moving warmth from one place to another. They can do that very efficiently, using way less energy than it would take to generate heat directly. A heat pump clothes dryer uses at least one-quarter less energy than a normal dryer while being gentle on your clothes. It does take a little longer, but the results are worth the wait.
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Just like the clothes dryer, this water heater moves heat around instead of directly powering a heating element or using a flame. Drawing warmth from outside your home, it's so much more efficient that it can save you thousands of dollars over the lifetime of the unit — offsetting the cost of the equipment itself. It's also safer than a gas water heater because it doesn't produce the fumes that a gas flame can.
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This is the original "heat pump" for American homes. In most ways, it's like an air conditioner unit, except that it can also work in reverse. Air conditioners pump heat from inside your home to the outside, but a heat pump can work in both directions. Heat pumps can reduce your home heating and AC bill by as much as 47%, offsetting the cost of the upgrade even before you apply any IRA rebates.
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Induction stovetops are the safe, flameless cousin of gas stoves. Instead of using fire or even an electric heating element, they generate a quickly oscillating magnetic field. Put a steel or iron pan in that field, and it'll heat up without the actual stove's surface ever getting hot to touch. Induction stoves are even more efficient than other electric stoves, and they heat up more quickly, too — making cooking easier as well as cheaper.
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Unlike the other equipment on this list, a new breaker box doesn't save you money directly. However, it's subsidized by the IRA for a good reason: it can make all the other upgrades possible. Older homes may not have enough electrical capacity to support going all-electric with your appliances. However, with the right electrical panel, you can not only switch away from gas in your house, you could even charge up an electric car.
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