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You want to do something that will help preserve the environment. How about making your home more energy efficient? You will be contributing to environmental sustainability by reducing your "carbon footprint" and saving money down the road. You may also add to the resale value of your home by as much as 5-10%.1 Here are some ideas from our new publication, Your Guide to Growing an Energy Efficient Home, developed by RBC in partnership with Canada Mortgage and Housing Corporation (CMHC).
Energy-efficient upgrades
There are many types of eco-improvements you might want to consider, ranging from quick fixes to a comprehensive home renovation.
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Install water-saving fixtures. It's easy to reduce water use by installing aerated shower heads and faucets. Low-flow or dual-flush toilets use 80% less water than a regular toilet. Check whether your municipality offers a rebate for water-conservation upgrades.
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Switch to energy-efficient appliances. Appliances that are more than 10 years old are electricity gobblers. By trading, say, an old washer and dryer for energy-efficient models with the Energy Star* label, you could cut energy consumption by at least 15%.
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Upgrade heating and hot water systems. Heating accounts for about 67% of household energy use, so it makes sense to ensure furnaces are efficient and in good working order. Heating, cooling and water heating equipment has dramatically improved in recent years. A high-efficiency furnace, for example, could save as much as $670 a year.
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Increase the insulation. If you have access to your attic, check to see that you have at least 10-12 inches of insulation. If not, you may need to top it up. And ensuring that walls are properly insulated helps keep the heat in and cold air out - and energy costs down.
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Replace windows and doors. Upgrading to double- or triple-pane windows and patio doors could save you $250 a year in energy costs.§ Combine with some simple draft-proofing techniques, and you'll more than double those savings. |
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Get a rebate
If you're considering any energy efficiency improvements to your home, you may be eligible for a government rebate of up to $5,000 under the ecoENERGY Retrofit program.
The essential first step to collecting your rebate: Have a Home Energy Audit performed by a qualified energy advisor before you start. The advisor will provide you with an energy rating and an energy action checklist.
Implement some or all of the recommended improvements within 18 months, and then contact your energy advisor for a follow-up evaluation. The advisor will provide a new energy rating and submit the EcoENERGY Retrofit rebate application on your behalf.
Financing your eco-reno
Depending on the extent of the work you plan to do, you may need financing. It's a worthwhile investment that can add comfort, savings and value to your home over the long term.
Whether you use your RBC® Visa* card to pay for new light bulbs or access your Royal Credit Line® or RBC Homeline Plan® to finance an energy efficient furnace, RBC Royal Bank® can help you find the right financial solution for your eco-friendly upgrades.
The information provided in this article is intended for informational or educational purposes only and is not intended to provide advice on environmental issues or home renovation, and should not be relied upon in that regard. Please consult experts in these areas for more information.
® Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
1 Greensaver, "Saving the Planet One Home at a Time"
§ The cross-effect of multiple upgrades will result in a lower total savings than the amounts indicated. All costs are subject to change. Costs depend on materials used and installation practices. Costs may vary depending on house location.
© 2007 Royal Bank of Canada.
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