4 Facts to Demystify Electrification
Electric products are gaining momentum as more efficient, eco-friendly and cost-saving alternatives to gas systems. Sadly, common misconceptions still persist around electrification — one being that electrification will cost homeowners money without saving them money in the long-run.
The truth is you could save an average of $1,800 a year by upgrading your household to be fully electric. Not accounting for the fewer repair costs expected for higher-quality systems, and the increased comfort and health benefits of going electric. Here are four facts to get you started!
1. Electrification is a “journey”
Homeowners are often overwhelmed by the process of going electric. New appliances, new heating and cooling systems, solar panels, EV chargers: the possibilities seem endless, (and expensive.) Remember, homeowners don’t have to electrify their homes in one go. Often homeowners prefer to start small.
2. Electrification saves money*
It’s true that electric energy-efficient products may have a higher upfront cost than traditional products. Luckily, their long-term cost savings make up for it. Higher-quality products reduce energy waste which lowers utility bills. Factor in less maintenance costs and the longevity of electric products — and the economic benefits are clear.
Another bonus? Electric energy-efficient products often return a large ROI to homeowners, increasing the value of their homes.
Upgrades like electric products can also give a competitive edge in the tight housing market. 9 out of 10 prospective homeowners report they’d choose a more expensive home with upgrades over a cheaper home without them (NAHB).
3. Electrification can improve daily life
The benefits of electrification are more than economic. The increased performance of electric products maintains an even home temperature, brings heat to faucets faster and makes the home a more comfortable and well-functioning space.
Electric products, particularly solar paired with solar battery storage, can help keep the lights on through power outages and harsh weather events. This increases home resiliency and helps put homeowners at ease throughout the increasing number of weather events. Clean energy systems can also improve the air quality in homes.
4. Electrification is getting less expensive
Homeowners can use tools like the Rewiring America calculator to learn more about electrification incentives they may qualify for. Although the tax specifics should be handled by a tax advisor, the Inflation Reduction Act may make it less expensive to electrify your home.