With rising electricity and fuel prices saving money is the primary motive behind energy efficiency. Improving one’s carbon footprint is also a significant benefit.

Saving energy in the home will result in financial savings but needs to be prioritized in order of importance. The financial equation of energy saved against the investment in the energy saving technology needs to be compared.

The easiest and cheapest way to save energy is by only using what is required, e.g. switching off lights when leaving a room, filling the kettle as needed or switching off electronic devices (not stand-by) when not in use. The difficulty is maintaining this behaviour, and this will only work, if energy efficiency becomes part of one’s mind set.

More energy efficient technology, however, requires investment. The payback on the investment needs to be carefully worked out, taking into account not only the electrical savings and the financial benefits of the savings, but also the capital cost and the loss of income from the funds invested into the energy efficient technology. Generally, the payback on energy efficiency will significantly outperform the returns from the money if invested. 

The options are as follows:

1. Water Heating
2. Lighting
3. Appliances
4. Insulation
5. Heating /Air Conditioning
6. Solar Photovoltaic
   
   
   

In order of priority, the following steps should be considered based on the payback period of each: