Beware of that second price tag!

November 12, 2013

Efficiency, a small investment with a big return

If you were buying a new fridge, which would you choose?

  • Fridge A, which costs $1,000 to buy but consumes $40 a year in electricity; or
  • Fridge B, which costs $750 to buy but consumes $100 a year in electricity?

Here’s the quick math on the above choice: after five years, Fridge A would cost a total of $1,200; Fridge B would cost $1,250.  After 17 years (the average life of a fridge), Fridge A would cost a total of $1,680; Fridge B would cost $2,450.  You can see what’s happening: the efficient choice may cost more up front, but it’s cheaper in the long term.  The fridge that appears cheaper is actually more expensive.

When making a purchase, we often look exclusively at the first price tag – the purchase price – and overlook the second price tag – the operating cost.  But efficiency, particularly in home appliances, is a small investment that pays.  If you’re in the market for an appliance, efficiency is the wise choice.

Click to learn more about EnerGuide or ENERGY STAR efficiency ratings.  (Reminder: NBers can save and take advantage of special rebates on energy efficient appliances during the month of November.

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