Rising energy costs and environmental awareness are driving change
Only a few decades ago it was common to build a house and not insulate it. So what has changed in Australia? Today most people would agree that renewable energy and sustainability are key issues in our society. This new way of thinking has influenced a lot of the changes we see in our world today, including an energy-efficient house design. Rising energy costs have also caused many consumers to question how they can reduce their household energy consumption.How much money can I save with proper insulation?
The Climate Council’s latest report has revealed that insulation plays a significant role in reducing energy bills. Data showed that adding insulation and fixing draughts helped Australian households save from $354 to $1,561 each year. Below is a table showing how much money can be saved yearly in each Australian capital by upgrading a home with a 2-star energy rating with different types of insulation.Adelaide | Brisbane | Canberra | Hobart | Melbourne | Perth | Sydney | National average | |
Ceiling insulation | $352 | $107 | $423 | $420 | $250 | $236 | $163 | $279 |
Wall insulation | $310 | $94 | $372 | $370 | $220 | $208 | $143 | $245 |
Draught sealing | $270 | $82 | $324 | $322 | $192 | $181 | $125 | $214 |
Ceiling insulation top-up | $147 | $45 | $176 | $175 | $104 | $99 | $68 | $116 |
Secondary glazing | $142 | $24 | $171 | $269 | $101 | $56 | $39 | $115 |
Reducing sub-floor ventilation | $83 | $24 | $99 | $98 | $59 | $55 | $38 | $65 |
Sealing wall cavities | $69 | $21 | $83 | $82 | $49 | $46 | $32 | $55 |
Total bill savings | $1226 | $354 | $1471 | $1561 | $869 | $783 | $539 | $972 |
What are the long-term savings of insulation?
Let us calculate the long-term savings of insulation using the data from the table above. We are going to assume a home with a 2-star energy rating has invested $1,750 in ceiling insulation, wall insulation, draught sealing and sealing wall cavities. Since each state has different savings, we are going to use the national average for each category. Home energy rating: 2-stars Insulation cost: $1,750 Yearly savings: Ceiling insulation $279 + Wall insulation $245 + Draught sealing $214 +Sealing wall cavities $55 = $793
Accumulated savings |
|
Year 1 | – $1,750 + $793 = – $957 |
Year 2 | – $957 + $793 = – $164 |
Year 3 | – $164 + $793 = $629 |
Year 4 | $629 + $793 = $1,422 |
Year 5 |
$1,422 + $793 = $2,215 |