New windows are a big expense, but in the long run, they’ll almost certainly save you money. But how much, exactly, and how long will it take you to recoup your investment.
Let’s look at the facts and figures.
Sadly, the federal tax credits for energy efficiency no longer apply to windows, only to alternative energy systems such as wind turbines, solar panels, or geothermal systems. Your main saving area will be in the reduction of your electricity bill through more efficient insulation of your home.
A typical modern energy efficient window with an ENERGY STAR rating will reduce your cooling and heating bill by around 30% over older windows. More thermally efficient windows can increase your savings, and if your existing windows are thin, ill-fitting, or damaged, this will increase your saving even further, potentially reaching around 50%-60% saving.
If your typical electricity bill ranges from, say $200 in the winter up to $400 in the summer, when the Florida heat puts maximum demands on your air conditioning, here are the kinds of savings you can expect to see.
|Month||Normal bill||Heating/cooling||30% saving||50% saving|
What this adds up to is a saving of between $576 and $960 a year. If your outlay is $8000, then it will take you between 8 and 13 years to recoup the cost, assuming energy prices stay the same. However, if energy prices rise, those savings will add up even faster, and you could find yourself recouping the cost after as little as 6 years.
To sweeten the deal even further, the value of your house will increase. According to the National Association of Realtors, homes in Florida with Energy Efficient windows sell for as much as 23% more per square ft. than homes with old aluminum single pane windows. That’s a worthwhile investment!