Spend Money to Save Money

Benton REA’s Energy Savings Loan program helps members improve efficiency without breaking the bank.

When it comes to your home’s energy efficiency, sometimes you need to spend money to save money.

According to the U.S. Energy Information Administration, the average single-family home spends more than 54% of its annual electricity bill on space heating and air conditioning and water heating consumes another 19%.

The age of your home comfort system and how it is maintained is correlated to the amount of money spent powering it.

Older units are more expensive to operate as they lose efficiency over time.

A new air source heat pump can save as much as 18,352 kWh of electricity a year, or about $120 per month ($1,437 per year) if they replace a standard electric furnace.

Hybrid electric water heaters use half the energy of standard electric water heaters, saving users up to $300 a year, according to the Northwest Energy Efficiency Alliance.

Efficiency isn’t cheap. A new heat pump installation can cost anywhere from $5,000 to $18,000, and a hybrid electric water heater professional installation can cost up to $2,500, rebates not included.

However, your energy savings will add up year after year. A well-maintained air source heat pump will run efficiently and save you money for 20 to 30 years. All new hybrid electric water heaters that qualify for a Benton REA rebate come with a 10-year warranty.

You can decide if the energy and money saved are worth the money spent.

Money Back with Rebates

First, make sure you select a qualified contractor and research Benton REA’s current available rebates. Then, apply immediately after purchase to get some of your money back as soon as possible.

Ideally, the best way to save money is to pay with cash when you have it rather than paying interest. But, if you need to quickly replace an aging or failed appliance, Benton REA can help.