By Lori Soard on December 24, 2011 in
Torn between keeping your home warm and reducing heating bills? Unfortunately, when the temperatures drop, heating costs rise. Even cranking the thermostat up by a single degree can cost 5% more. The US Department of Energy estimates that about 56% of the average home's energy bill is spent on heating and cooling. In addition, the U.S. Energy Information Administration predicts a .69/gallon rise in home heating costs over last year's prices. Because of rising costs, many consumers are looking for alternative ways to heat their homes this winter. A space heater is one option to save you from burning your cash.
Staying warm for less
Good Housekeeping researched how much money homeowners can save by reducing the thermostat to 62 degrees and using a portable electric heater in a single room where the most time is spent. They came up with an estimated savings of about $200 a year. Consumer Reports agrees on the savings, but cautions that a space heater only saves money if you reduce the heat in the rest of the house.
If your family spends the majority of time in a single room, then a space heater may be worth the investment. For example, Trent Hamm writes on The Simple Dollar that his family saves money by drastically reducing the temperature in the rest of the house and gathering in the family room. They flip on a 1500-watt space heater when it grows cool and run it full blast for about fifteen minutes. Then, they turn it on low and allow their body heat to keep the room warm for a while. He says, "Savings is about $3 a day."
Some things to keep in mind that will increase your savings:
- Reduce the thermostat on your main heating unit.
- Use the space heater in a single room.
- Make sure the room is well insulated and sealed off from the rest of the house.
- Use blankets and dress warmly to reduce the need to run the portable heater on too high of a setting.
- Use a space heater to take the chill off of brisk fall and spring days and avoid using the furnace altogether.
- Turn the heater off 30 to 60 minutes prior to leaving the room. It will take a while for the room to cool off, so you should remain comfortable.
If you live in an area where electricity is expensive, you may not save as much as someone in an area where electricity rates are lower. No matter where you live, contact your local electric utility company and inquire about whether there is a reduced cost during non-peak hours. For example, running the space heater during the day, when most people are at work but you are at home, might save more than running it during prime time when energy costs are at a premium.
When making the final decision on whether or not a space heater makes sense for your home, think about the overall savings versus the cost of the heater. Spending $300-$400 on a space heater, when you'll only save around $200 may not make sense. However, purchasing an inexpensive $40 model can help you come out ahead in the long run. And remember, the type of space heater you choose can also have an impact on how efficiently the machine provides heat. Read our report on the top four space heaters and find out why they rate high.
Also, it is important to use safety precautions when a space heater is in use. Consult our blog for tips on how to operate one safely.