About 30% of a kiwi household energy bill is spent on keeping your home at a comfortable temperature. Energy bills tend to spike in winter because of increased heating, and you may also notice a cost increase in summer if you use air conditioning. A well-insulated home can reduce the seasonal variations in your energy bill, but most people want to know:
The average New Zealand home is actually under-insulated, and older homes tend to be particularly vulnerable. Nearly two-thirds of New Zealand homes were built before insulation became mandatory in 1978. Insulation reduces the transfer of heat into (or out of) your home by trapping tiny pockets of air and slowing down the movement of heat. This means that you need less energy to maintain a comfortable temperature, thereby reducing energy costs.
Studies estimate that the average homeowner is likely to save 15% on energy costs by having proper insulation installed. According to NZ Compare, the average annual power bill for a medium-sized home in New Zealand is about $2,200. Therefore, cutting your energy bill by 15% will result in an annual saving of roughly $330 on average. That’s around $1,000 in your pocket every few years!
To get the most bang for your buck, we recommend starting with the ceiling. Because heat rises, up to 40% of your home’s heat can be lost through the roof. For more energy savings, you’ll also want to make sure all exterior walls and floors are properly insulated. Depending on the age of your home and the current state of your insulation, you may find that your energy savings end up being well above average.
As another consideration: Insulation is among top priorities for prospective home buyers, so a well-insulated home commands a higher market value. Recent studies estimate that when homeowners insulate their attic and underfloor, they see a net increase in their home’s value.
For most kiwis, an insulation upgrade is worth the cost. It’s a simple improvement that reduces energy bills, increases home value, and ultimately pays for itself. You are guaranteed to recoup your costs (and then some!) while also reducing your home’s carbon footprint.
At Bay Energy Solutions, we offer free home assessments from one our insulation experts. We can inspect the state of your current insulation, and advise whether or not it needs to be upgraded. If it does, we can also provide a competitive quote at no cost to you. Put simply, the more your home’s insulation could be improved, the more you’ll save on your energy bill each year! Click below to book in your free insulation assessment today.