Electrical Upgrades that can Save you Money

Energy saving tips that get you the most out of every dollar

Older homes and condos can be a great buy for entrepreneurial homeowners, but outdated electrical wiring can cause issues, higher insurance premiums and wasted energy. Getting an electrical upgrade can make your home safer, add to its value and improve your energy efficiency. Here are some tips to getting the most out of your electrical upgrade.

Get Switched On

Installing dimmer switches can really help to reduce your electrical bills. Dimmer switches utilize a TRIAC switch which actually turns the electricity on and off hundreds of times a second. This not only reduces the amount of electricity you use; it also prolongs the life of your lightbulbs by reducing the amount of heat they are subjected to.

In fact, dimming your lights by 50% can makes your lightbulbs last 20 times longer and save you up to 40% on energy usage.

Take this opportunity to insulate behind the switch plate. If you add up all the gaps in your walls behind switch plates, you can imagine the substantial hole you have in your building envelope. Insulating your switch plates will improve the efficacy of your building envelope and your energy efficiency.

Get Smart

Smart meters are a way for homeowners to monitor and reduce energy consumption. Smart meters record how much energy you are using and when you are consuming it and send this data to your computer so you can work effectively with the information. 

Knowing your energy habits is the best way to encourage effective change. You can switch more tasks to off-peak hours so the energy you use costs less while discovering which appliances use the most energy.

While smart meters don’t directly save you money, they do give you the information you need to reduce your consumption and moderate your habits to avail yourself of off-peak energy.

Smart thermostats regulate the temperature of your home to suit occupancy. That means that when you are home, the thermostat will turn on the heating or cooling to make your home comfortable. While you are away at work or sleeping, your home will be a little hotter in the summer and a little cooler in the winter.

Smart thermostats must be used properly in order to optimize results, but when they are, they can save you 10-12% for heating and 15% for cooling.

Use a smart power bar with a timer to turn off your devices when you are away or asleep. Even when appliances are on standby, they account for 10-15% of your hydro bill.

Energy-efficient upgrades are so numerous that you may be wondering where your money will make the most difference. Consult the Scotiabank Home Energy Savings Calculator to see where you can get the most for every dollar spent.

Find incentives in your local area for energy-savings upgrades by clicking on the link here

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