Energy efficiency and cost savings are top of mind for consumers today because the costs of heating and cooling a home have never been higher. For example, Xcel Energy customers in Colorado received an unwelcome present this Christmas — a 54% increase in their monthly gas bills compared to last Christmas.
Energy efficient windows and doors are becoming increasingly important as the need to reduce costly energy bills becomes more urgent. The good news is there are plenty of money-saving options available for homeowners. And with the new changes to the Energy Efficient Home Improvement Tax Credit in 2023, there’s no better time to upgrade than now!
The wholesale price of natural gas this fall was almost double what it was during the same period in 2021. Energy markets have been under increased pressure due to global conflicts and economic uncertainty as consumers have faced rising costs for many basic necessities.
As if the increasing price of natural gas was bad enough, Xcel Energy also began hiking natural gas rates charged to consumers in November. These infrastructure and security investments are expecting to mean increasing rates each year through 2025.
A severe cold snap during the President’s Day weekend in 2021 caused demand for natural gas heating to spike substantially, freezing gas production and leading to record-breaking prices for natural gas. During that time, Xcel Energy made a large $670 million purchase of natural gas and paid a 50x premium over prices earlier in the week. Now, those costs are being passed on to consumers through a new “EGCRR” fee. Residential gas bills would rise by 11 percent for 30 months, while residential electric bills would rise by 2 percent for two years, according to a decision filed with the Colorado Public Utilities Commission.
According to the Farmer’s Almanac, Colorado and areas in the west are due for a harsh winter in 2023. In fact, they predict that it will be one of the longest and coldest winters on record in our fair state. We are already seeing a substantially colder December than last year during this time. This makes keeping your home heated more difficult, especially if you have windows and doors that are worn or damaged. Installing new energy efficient windows and doors will take care of cold drafty air and help reduce your energy bills.
Upgrading to new energy efficient windows is one of the best investments you can make for your home. Not only will they save you money on your energy bills, but they’ll also provide you with a lot of comfort during the warm and cold months.
Factors to consider when choosing new replacement windows:
Infinity from Marvin offers some of the best energy efficient windows on the market. They combine Ultrex fiberglass frames with high-performance glass options that are as beautiful as they are functional. The enhanced insulating barrier protects against extreme weather temperatures to keep you comfortable and reduce heating and cooling costs.
Anlin is an industry leader in manufacturing energy efficient windows and doors with exceptional performance ratings. They offer advanced technology like the Next Generation Glazing System with high performance glass and spacer between the glass panes deliver unparalleled energy efficiency. These vinyl windows provide weather-tight seals and superior air infiltration ratings.
Getting energy efficient doors will help you save money on your energy bills every month. According to the California Energy Commission, doors are responsible for 11 percent of air leaks in most homes. This is especially important in homes where climates experience severe heat, cold, and wind like Colorado. Besides saving money on energy bills, you’ll also notice that adding new doors ensures your home’s temperatures are more consistent and comfortable year round.
Fiberglass exterior doors are among the most durable and energy-efficient on the market. The Embarq line of entry doors from ProVia offers innovative design with more insulating value than a typical fiberglass door. Their proprietary Quad Glass System takes advantage of two panes of low-e glass and warm edge spacers to provide maximum energy efficiency.
The Inflation Reduction Act of 2022 provides substantial increased tax credits for energy efficient home improvements. Beginning on January 1st, 2023, the new law allows for up to $1200 annually vs. the previous lifetime $500 tax credit. Consumers can claim 30% of the sum of amounts paid for qualified energy efficient windows and doors under this program, including:
This is an amazing incentive to add new energy efficient windows and doors to your home improvement project list in 2023. Not only will you save on heating and cooling bills, but you’ll get an added bonus when it comes time to file your taxes.
Contact us today to set up a free in-home consultation. We’ll provide an accurate measure and no-obligation estimate on the most energy efficient windows and doors to help you lower your energy costs in 2023. Our team of professional installers will ensure your new windows and doors are installed correctly so you can enjoy them for years to come.
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