Earlier this month, regulators flagged power price rises in Queensland, New South Wales, Victoria and South Australia. Like many people, you’re probably wondering how you can minimize the financial pain.
Getting rid of gas and electrifying everything in your home can save you money. Modeling by not-for-profit organization Renew showed annual bills last year for a seven-star all-electric home with solar power were between 69% (Western Sydney) and 83% (Hobart) cheaper than bills for a three-star home with gas appliances and no solar.
There are other reasons to kick the gas habit, too. As renewables form an ever-growing part of Australia’s energy mix, electrifying the home increasingly helps tackle climate change. What’s more, there are sound health reasons to get rid of gas appliances.
But where do you start? And how do you get the best bang for your buck? Here, I offer a few tips.
A quick guide to home energy use
Australian home energy use can be separated into a few categories:- space heating and cooling
- water heating
- cooking
- vehicles
- other appliances (many of which are largely already electric).
So what’s the payback?
Buying new appliances costs money. So it’s important to examine the “payback” period—in other words, the length of time it takes for energy bill savings to equal the cost of the initial investment in a new appliance. The payback period can vary depending on:- cost and quality of the appliance
- an appliance’s energy rating
- size of the system
- for space heating, whether a split system is replacing an existing ducted system or being added on externally.