The U.S. Department of Energy designates October as Energy Awareness Month. It is an opportunity to increase awareness around how federal agencies and homeowners alike can improve energy efficiency and resiliency. And the need for action is essential. The U.N. Intergovernmental Panel on Climate Change (IPCC) 2021 report illustrates the dire need for immediate greenhouse gas reduction and outlines devastating impacts of inaction.
The question for homeowners and home improvement contractors becomes, what can I do to make an impact? The good news is that every home can play a role in improving energy efficiency and reducing consumption.
“Decisions we control in our households are responsible for 42% of energy-related greenhouse gas emissions,”1 a 2020 Rewiring America report, “No Place Like Home: Fighting Climate Change (and Saving Money) by Electrifying America’s Households,” by Saul Griffith and Sam Calisch, stated. Rewiring America reported this percentage of greenhouse gas emissions in households includes personal vehicles, residential energy consumption and industrial energy consumption associated with delivering fuels to households, based on data analysis of the EPA GHG Emissions Inventory. These fuel sources also cost homeowners a lot.
The annual costs of energy in the home
The dependence on fossil fuels for heating and cooling a home, cooking, transportation to and from food sources, and the transportation needed for deliveries is substantial. It also offers a real opportunity for homeowners and home improvement contractors to adopt technologies that reduce carbon emissions.
By electrifying the home — everything in the home — homeowners can help combat climate change and save money. The average household spends around $4,470 annually on energy. In energy savings modeled in the Rewiring America household savings report, homes that adopt clean, electrified technologies can save $1,000-$2,500 annually. A key component to making that adoption possible is converting the upfront expenses of clean energy upgrades into affordable monthly payments. That is why financing options for solar and home improvement projects is essential to move toward a 100% clean energy model.
Clean technologies are a win-win-win
Mosaic Founder and CEO Billy Parish recently shared during the Empower 2021 Solar Summit how electricity can help begin to address climate change and create electric revenue opportunities in the solar industry.
“We need to get better at helping customers on their journey of home electrification,” Parish said. “It’s a great opportunity to circle back with existing customers, deepen the relationship and generate new customer referrals.”
Electrifying the home is a win-win-win for homeowners, contractors and the climate. Homeowners rely on contractors and their expertise to communicate ways homeowners can afford sustainable home improvements like solar panels, battery storage and high-efficiency HVAC systems. In fact, there are 70 million homes with natural gas or fuel oil that are primed to convert to a next generation heat pump, according to Guidehouse Insights 2020 Electrification report.* HVAC contractors should be prepared for this opportunity and be prepared to share the benefits of heat pumps with their customers. The Rocky Mountain Institute reports that heat pumps are more efficient than an Energy Star gas furnace.
The time to act is now
Mosaic’s mission is to empower millions of people to prosper by creating the best way to finance clean energy solutions. To date, Mosaic has helped more than 180,000 homeowners switch to sustainable solutions with the help of our more than 2,200 contractor partners. Join us today in helping more people adopt clean energy solutions — and grow your business along the way.
1 Data analysis of the EPA GHG Emissions Inventory conducted by Rewiring America.