KNS Financial

Personal Finance From a Biblical Perspective

Solar Energy: A Viable Option

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In a world that is racing to slow down the effects of global warming, solar energy has quickly become a contender in alternate energy resources. While not a perfect solution, it is one that the individual can take into his/her own hands, and it is beneficial to quell the rising cost of electricity and gas. There are many factors to determine solar energy’s true cost and benefit, but here are some of the reasons why it is worth further exploration.

Monetary savings on utility bills. The average American household uses 920 kWh per month. Some solar installation companies guarantee an average of >800 kWh per month. In conventional relationships with utility companies, the customers are totally dependent on them for electricity and gas needs. Solar power users are able to gain a measure of independence from their utilities with utility bills possibly being lowered by 50% or totally eliminated.

The average 20 year savings were estimated to be a little over $20,000 for Americans who went solar in 2011. This number went up substantially in heavily populated cities. Even if the solar panels aren’t able to supply all their power needs, they will be relying on conventional power a lot less. In the chance that a customer produces more power than they need, the utility company may pay them for it. Solar energy has the possibility of changing from a saving mechanism to an income stream.

Solar Energy

A reduction in carbon footprint. Through the use of an energy conversion calculator, studies have shown that the average American household generates 7.4 tons of carbon dioxide per year through electrical use. Carbon dioxide has been shown as a major cause of global warming, along with other emissions such as methane and additional particulates.

The production of solar panels does produce some substances that are unsafe to the environment, but the impact is minimal. Also, it pales in comparison to fossil fuel emissions and does not require any mining or drilling as found in more conventional energy sources. Also, solar panels and stations carry a much smaller physical footprint than conventional or nuclear power stations.

Although controversial, government subsidies have helped to make solar power cheaper and more available. There has been some benefit from this since the cost of a solar-power plant has dropped by 22% in 2010-13. In sunnier places, solar power is providing electricity to the grid as cheaply as standard coal- or gas-fired power plants.

Reduce reliance on foreign and nonrenewable energy sources. The sun is a reliable resource. We do not have to worry about sunlight running out as we do with oil and coal. With the sun’s reliability and the simplicity of solar panels, a country gains the benefit of energy security. No one country is able to monopolize the sun’s energy which creates independence from home owner to their nation.

Some countries have been noted to have saved billions already in lowered imports of oil and gas from neighboring nations. The technology has the potential to eliminate questionable treaties with nations that would otherwise consider each other to be hostile. In the long run, such progress could boost the economic security of citizens as a result.

Solar energy does have some disadvantages. It is not a perfect solution. For instance, we can only harvest solar energy while the sun is shining. Due to this, we may always need to depend on an alternate energy source or means of storing energy. Also, solar power stations presently produce less energy than conventional ones, and they are more expensive to build and run. Although these and other factors exist that need to be worked out, it is too soon to throw the baby out with the bath water. We are seeing many benefits with solar energy that shows there is value in working through the difficulties.

Energy Saving Myths: What You Think You Know Can Cost You BIG!

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As many of you already know, I love to look into commonly held beliefs and see if they are actually true or nothing more than popular myths. Our local energy provider recently sent out a list of some of the most common energy myths. Here are the ones which I found most interesting:

Common Energy Saving Myths

Energy Saving Myths

Setting the thermostat higher or lower will heat or cool your home faster. Homeowners often set the thermostat higher or lower than necessary, thinking it will warm or cool their home faster, but furnaces and air-conditioners work at the same speed, no matter what the thermostat setting. A home will warm up to 70ºF just as quickly if the thermostat is set at 70ºF as it will if it is set at 80ºF. In fact, more energy may be wasted as the heating or cooling system continues to run to reach the higher set point.

I have always believed this myth until we had someone come to service our central air unit. When he was testing the temperature of the air coming out of the vents, he explained to me that it takes the same amount of time to reach the desired temperature no matter how high/low you set the thermostat.

A heating and cooling system works harder to reach a comfortable temperature after setback or set forward. Many homeowners do not adjust their thermostat at night or when their home is unoccupied because of the common misconception that the heating or cooling system must work harder or use more energy to reheat or re-cool the house, but this is not how thermostats work. The system turns on to reach a set level and shuts off when that level is reached. It operates more like a switch that shuts on and off than a car that accelerates when you step on the gas pedal.

This is another one that I believed until talking to the same serviceman. I always thought it was the same as a car, so I’m glad they specifically mentioned that analogy.

Energy efficiency and energy conservation are the same thing. Efficiency refers to using less energy to perform a specific task. For example, compact fluorescent lamps (CFLs) can light your home using less energy than conventional incandescent bulbs. Conservation involves reducing your need for energy through behavior changes, such as setting your thermostat lower.

I never really paid any attention to this, but I do think that those buying appliances should take note when analyzing products/plans using these terms.

When an appliance is turned off, it is off. Many appliances and home electronic devices continue to use power after they have been turned off—sometimes as much as if they were on. This is known as standby power or phantom load. The only way to stop the drain of power from these devices is to unplug them.

My wife and I are always unplugging the chargers for our cell phones and other electronics. In fact, we purchased a couple of surge protectors that allow us to shut off the power to all but 2 predetermined outlets, so we don’t even have to unplug the chargers from those areas.

CFLs are more harmful for the environment than traditional bulbs because they contain mercury. CFLs do contain a trace amount of mercury that can be emitted into the atmosphere if the bulb is broken. However, mercury is also emitted into the atmosphere through electricity generation. Using CFLs will help to reduce mercury emissions because they are more efficient and use less electricity. According to the U.S. Environmental Protection Agency, a typical 60-watt incandescent bulb will result in 5.8 milligrams of mercury emissions over its lifetime, while a comparable CFL bulb will emit only 1.8 milligrams—even if it ends up in a landfill. Recycling CFLs can further reduce emissions.

I never heard that CFLs contained mercury, so this is new to me.

Leaving lights and electronic devices on uses less energy than turning them on and off. In most cases, the small surge of power needed to start a device is much less than the power that is wasted by leaving it on when it is not needed.

I’ve never heard this one either, but I can see someone believing this since you hear the same thing about the thermostat (see above) and allowing a car to idle.

Duct tape is the best choice for sealing ducts. Duct tape has very low durability when used to seal ducts. Over time, it will fall off as the adhesive dries out and the tape starts to wrinkle. Mastic or metal-backed tapes—available at your local hardware or do-it-yourself retailer—are better choices for duct sealing.

Ummm…it’s called duct tape, right? Who here didn’t think that was because it is perfect for sealing ducts? Yes, I have seen it dry out, but I always assumed that it was still the best option.

Purchasing an efficient air-conditioner or furnace will automatically reduce energy bills. This is true to an extent, but optimal savings will not be achieved unless the system is sized and installed correctly. Installing an efficient, but over-sized, system may negate much of the potential savings, while a poorly designed duct system will also impact efficiency and comfort. Windows, doors, and insulation also affect heating and cooling efficiency.

Things are never as easy as they seem. There are so many variables when it comes to reducing energy costs.

Dimming lights by 50% will cut lighting costs in half. In reality, the relationship is not quite direct and the savings may be less than expected. Dimmed lights do use less power, but when lights are dimmed, the voltage drops and the filament becomes cooler. This causes a loss in overall efficiency.

Again, a case where the simple assumption isn’t as accurate because of other factors.

Closing off vents will help to lower heating and cooling costs. Closing or covering up vents is typically not a good way to save on energy costs. Heating and cooling systems balance their load throughout the duct system. If one vent is closed off, it throws the system off balance. Pressure can build up in the ductwork, causing leakage and reducing the amount of air circulating in your home. This reduces system efficiency and home comfort.

My wife and I will do this under the assumption that this will just increase the airflow to the remaining open vents. We won’t be doing this any longer!

As you can see, these misconceptions and myths about home energy use are not merely interesting facts, but use can cost homeowners in the form of higher energy bills and can lead to unnecessary home maintenance and reduced comfort.

photo credit: Freedigitalphotos.net

How To Reduce Home Energy Costs

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[The following is a guest post on behalf of Money Supermarket]

As temperatures drop, it is time to get your home ready for the winter. Some locations see lots of snow and below freezing temperatures. For these people, preparing for the winter takes some time, especially when the goal is to try and reduce home energy costs. For those that live with more moderate temperatures, much less preparation is required.

If not cared for properly, homes may need costly repairs that could mean applying for unsecured loans or even a consolidation loan.

How To Reduce Home Energy Costs

Reduce Home Energy Costs Inside the Home

There are several parts of your home that work together to make sure you stay warm and toasty despite the chilly temperatures outside. Your heating system is one of the most important parts of this system. Consider calling in for a maintenance appointment before it gets too cold outside.

A technician can provide you with an inspection checklist and even take care of minor repairs that you need. Remember that a little bit of money upfront could save you the search for unsecured loans if the system needs to be replaced.

Check your windows and doors for any type of leaks. You want your home to be energy efficient; in fact, this is the key to proper home energy management. When warm air is getting out and cool air is sneaking in, it takes more energy to heat your home. This means higher utility bills along with an inconsistent environment in your home.

Outside the Home

If you have any water lines or pipes outside, make sure that when it gets really cold, that you have them completely wrapped in order to prevent freezing. If a pipe does burst, you could be looking at an enormous water bill, the cost of fixing the pipe and the damage to your backyard. Unsecured loans could be required when you owe this much money in such a short amount of time.

Plants are often ruined during the winter. If the freeze hits and they aren’t protected, it could be the end. In most cases you can wrap them up with a blanket or sheet to prevent freezing. Having several sheets readily available can make it easy to cover plants if a last minute weather warning comes through.

As you look around the yard and the shed or even inside the garage, you may have tools and items that are sensitive to cooler temperatures. While you don’t expect the water, snow, or sleet to make it into the shed or garage if a storm hits, this is a possibility.

Make sure that everything you need that has the potential for damage is brought inside. With warmer weather, you may have just left things outside without worry, but as winter approaches, you don’t want to risk it.

Avoid unsecured loans and make it a point to prepare your home this winter. With a small investment of time (and maybe even money) you can avoid some of the common problems and issues that people face when the temperature drops.

Most of these tips can be applied to business energy management as well. Once these basic things are handled and you are prepared, you can sit back and enjoy the change of weather and the holiday season.

photo by Pixomar

Home Energy Management: Are You Wasting Money On Your Home Energy?

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[The following is a guest post brought to you by uSwitch]

We recently talked about the need for proper business energy management, now we will switch gears and focus on the home. With electricity prices rising all the time and fossil fuels nearing depletion, it makes a lot of sense to take measures to save money on your energy bills at home. Many of these steps are common sense and easy to do if you compare energy prices. With more and more people using every extra penny to pay off debt, home energy management is becoming more important than ever. Here are some tips to reduce energy costs.

Tips For Better Home Energy Management

Get into the habit of switching off lights when you leave a room.Install compact fluorescent light bulbs (CFLs) or LEDs (light emitting diodes) inside and outside the home; they use a fraction of the energy of traditional incandescent lighting and come out tops with energy comparison. They also produce far less heat, thus making cooling down of the room unnecessary.

Turn fridges and freezers down to a minimum, especially in winter. Don’t open the door unnecessarily or for too long. Defrost the freezer regularly and do not overfill it; but do not run it empty, either. It makes sense to compare electricity prices when different appliances are run.

A geyser is one of the most energy hungry appliances in the home. With energy comparison, it becomes clear you should set the heat for 50 degrees Celsius (122 Fahrenheit) in summer and 60 degrees (140 Fahrenheit) in winter and install an insulating geyser blanket, not forgetting to cover the first two meters of outgoing pipes as well.

Proper home energy management may include making changes to the structure of your home (something which may provide an unexpected benefit when it’s time for tax preparation). Installing a solar water heater is initially more expensive but makes sense in the long run if your goal is wise home energy management. Shower for as short a time as possible and install a low flow shower head. Do not run the hot water for small amounts or when cold water will do and use the first unheated water to water plants or use in pets’ bowls.

Boil only as much water as you need in a kettle or keep water in an insulated flask for later use. A fully loaded dishwasher uses less water than manually washing dishes, although the initial outlay will be more expensive; but if you compare energy prices it is worth it.

Run the washing machine on cold unless clothes are greasy or heavily soiled. Front loaders use less electricity. Use a microwave oven instead of the stove top or oven when cooking. You might find that using gas is more cost efficient if you compare gas and electricity prices.

Make use of the natural heat of the sun by opening window coverings in winter and keeping them closed in summer and at night. Plant shade-giving trees, preferably deciduous ones, so that in the winter the sun will reach your home. When you compare electricity prices, the saving will make a difference.

Using double-glazed windows or a window film will further enhance insulation features. Apply weather stripping or sealant to seal gaps that let out heat and install insulation in basements, heating ducts, ceilings and walls if possible. If you compare energy prices before and after these steps, you will notice a considerable saving.

When you compare electricity prices, you will see that central heating uses a large amount of energy. Wear warm clothes instead of turning up the thermostat; use an electric blanket at night and turn down the heat in your room or switch off loose standing heaters.

Unplug all appliances when not in use; even on standby or when switched off they still consume a small amount of energy. Replace electric appliances with energy saving ones. With energy comparison, you will notice that a laptop uses less energy than a desktop computer.

Maintain all appliances regularly, such as keeping the dryer filter lint free, the geyser clear of sediment and pipes and vents clear of dust and other obstructions. Conserve fuel in your car by driving more slowly and accelerating more gently. Service your car regularly and keep all filters clean. If you compare gas and electricity prices you might want to opt for appliances that use gas, such as ovens. The biggest thing that you can do is to avoid non-renewable energy sources as much as you can.

photo by Images_of_Money

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