April 24, 2014

Should You Buy a New Refrigerator?

You can find good information about appliances in large and small news outlets. I recently found a clear, simple explanation in the Cape Cod Times of why it could be worthwhile to replace a refrigerator even if it seems to be running perfectly.

Thanks to updates to federal energy appliance standards, all of today’s major home appliances do use much less energy. If you’ve got a product you use often like a refrigerator, washing machine or other major home appliance that is 10 to 15 years old or more, you’ll probably offset the purchase price of a new one by saving enough money on its energy use in the coming years.

I know it might not seem to make a lot of sense, especially in today’s economy, to replace a major appliance that seems to be working well just because it’s old. But this could cut monthly utility bills substantially.

Just like the purchase price of a new car is actually what you pay the dealer to buy it, pay the mechanic over time to maintain it, and pay the gas station over time to fuel it, appliances also need to be viewed as having the same types of actual costs.

A new refrigerator, for example, that carries the government’s ENERGY STAR designation showing that it greatly exceeds current minimum standards will probably save $1,000 or more over its lifetime compared to an older model.

The yellow EnergyGuide labels that come with major appliances show the estimated annual energy consumption of the model and other information regarding its energy efficiency. They also show where the appliance fits into the range of energy consumption of comparable products.

Most new appliances probably will last for many years, and energy-efficient models will continue to pay you back with lower energy costs over their lifetimes.

Check out the ENERGY STAR Web site that gives information on special offers, sales tax exemptions or credits, rebates and other discounts on energy-efficient products in your area at http://www.energystar.gov/index.cfm?fuseaction rebate.rebate—locator.

You also ought to look around your home to see how many products you’ve got plugged into electrical outlets. About 20 percent of the average family’s utility bill goes toward powering these home appliances. It’ll help you appreciate the importance of buying efficient products.

One shopping tip that can help save money is to buy only the features you need. If you figure a certain-sized refrigerator is best for your family, don’t be tempted to get a bigger one. Will you use the through-the-door water dispenser or the ice maker? If so, they can be great features. If not, they add not only to the purchase price but to the unit’s energy use as well.

The bottom line is simple. When buying an appliance for your home, keep in mind that the cost of the energy to operate it over its lifetime will very likely be more than you’re paying for it. Purchasing an energy-efficient model makes a lot of sense.

Comments

  1. Agreed – new models are both more efficient at cooling the compartment as well as insulating it too. They also may not contain the nasties that your old one may have like CFC’s. Make sure you dispose of your old fridge carefully!

  2. For me I think it is a no brainer that buying a new refrigerator is a smart idea. First off, I have no idea how old my current refrigerator is, but I know that it is old enough that the door sags a little bit which leaves about an 1/8 or so inch gap where the magnet doesn’t seal to metal on both the frige and freezer door. This has just GOT to be costing me money. Add to it that I would rather have a side by side, instead of the old stype bottom frige model I currently have and it just seems like a good buy. In fact I’ve read some good things about the Whirlpool GD5NVAXS

  3. risha mateos says:

    If the new refrigerators would last more than a couple of years I would agree with your opinion but most are JUNK! (read the reviews and pages of complaints on ALL models and brands) I wish I could find a way of doing without one altogether. I am just sick of the constant problems related to products that are designed to be trashed shortly after purchase. My “new” fridge just broke down AGAIN today and I don’t even feel like looking for a new one as it will just be the same no matter what brand or model I choose. We are all being ripped off with inferior products and at some point we need to say enough already and just refuse to purchase anything new.

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