New Report Finds Electric Homes Could Save Chicagoans Money | Rare Techy
Co-written by Thomas Siafa
As Chicagoans know, heating bills are through the roof. Gas bills are on the rise, and hundreds of Chicagoans are struggling to heat their homes and make ends meet. Last March, an investigation by the Chicago Sun Times It found that nearly one-third of Peoples Gas customers are late paying their gas bills, and in some zip codes, nearly half of all households are behind in paying their gas bills. This winter, Chicago residents’ gas bills will rise 30 percent over last year.
The burning of fossil fuels such as air in homes to meet heating, cooking, and other household needs has been shown to be harmful to our climate and health but for household electricity costs. Fortunately, there are a number of energy saving options that can provide significant energy savings for the average Chicago home. By replacing electrical appliances with energy-efficient appliances (such as heat pumps, which are very efficient in heating and cooling), building energy can meet the household’s energy needs more than cheaper than burning expensive fossil fuels.
Energy Futures Group’s analysis for NRDC examined the cost-effectiveness of gas and greenhouse gas reductions for single-family and individually measured multi-family homes with air conditioning in the Peoples Gas district, the utility. gas works in the city of Chicago. . These two residential types account for more than half of all residential gas supplied by Peoples Gas and more than 60 percent of all residential gas sold by the utility. The analysis also looked at the additional financial benefits for homes that are eligible for tax credits and payments under the recently passed Improvement Abatement Act. These impacts were assessed for both new and existing buildings. For existing buildings, total and partial energy was considered, with a focus on investments when air conditioning equipment needed to be replaced.
Below is a summary of the findings. Details of the analysis can be found in the report linked here.
Electronics save households money
Our analysis shows that energy efficiency saves households money in every scenario analyzed. This is mostly due to several reasons. First, the prices for the Gas Man are high. This is due to the large increase in regional wholesale gas prices over the past two years, and the large amount of money Peoples Gas has spent on its pipeline replacement program (a large portion of which will be recouped through different prices for gas bills). That double whammy is expected to continue indefinitely. The combination of the high prices of Air Compressors and the great advantages of electric appliances over air appliances-a modern cold-air heat pump is almost three times more efficient than a modern gas furnace- this means that gas costs more per unit of heat provided. home with electricity.
Second, Peoples Gas customers can switch their heating to a much lower monthly gas bill—saving $25 a month. Homes that are fully electric can eliminate monthly gas bills, saving more than $50 a month. Future cost savings will be even greater because Peoples Gas continues to spend on its pipeline replacement program, a major recurring component of monthly costs, which is expected to increase monthly fee set by the company.
Third, homes with electricity can provide space heating at a lower ComEd electric heating rate. That doesn’t just reduce the cost of electric heat. It also reduces the cost of lighting, cooling, and other electrical uses in the home.
In fact, replacing air conditioners with electric ones can save buildings. This is true not only in all 20 years but in the form of low electricity bills in the first year of electricity.
Electronics help households save a lot over time
Cost savings from electricity much, especially for new construction and electrification of existing buildings. Cost savings add up over 20 years $15,000 for the new all-electric and $10,000 for many modern buildings that are fully electric. Savings are greater for single-family homes. All electricity results in significant cost savings as consumers do not have to pay for gas costs as well as monthly bills.
However, energy efficiency is very efficient, meaning that households that run their space heaters but still pay a utility bill for hot water, cooking, and other small uses can save at least. $7,000 in many family houses and nearby $9,000 in single-family homes. This is because three quarters of air is used for space heating purposes in homes.
These savings are possible even if there is no ratio in the energy utility projects, it is possible to reduce the cost of energy due to incentives and costs for heat pumps, other electrical equipment, and parts of the construction portfolio, can reduce air leakage and improve home comfort.
And this is it no factor in government incentives.
Federal home energy incentives provide even more cost savings
Existing homes that are eligible for home energy rebates and tax credits under the Energy Savings Act may also receive additional financial benefits. The benefit of climate change incentives is greatest for low-income households—those with household incomes below 80 percent of the Area Median Income (AMI), which is approximately $83,350 for a family of four in Cook County, Illinois. Small homes that are eligible for climate regulation fees are fully electric and can increase the cost savings almost immediately. $11,200 for single-family homes and $9,600 for multi-family homes!
Electricity reduces greenhouse gas emissions
If reducing energy costs is not a strong argument in favor of electricity, the analysis also finds electricity will result in significant reductions in greenhouse gas (GHG) emissions. In all cases, GHG emissions over the next 20 years will be cut in half. These impressive results—in part a function of Illinois’ energy sector’s commitment to zero emissions by 2045 and thanks to the Climate and Equitable Jobs Act (CEJA)—put Chicago on pace to become the achieve its broad climate goals and re-establish Illinois as the nation’s climate leader.
Next up: Walking through Chicago’s apartments
Mayor Lori Lightfoot and the city of Chicago released a report last month on achieving new, healthy and affordable housing through energy efficiency. Now is the time for the mayor and the city to address the benefits of renewable energy for the people of Chicago. This is especially important in the face of Chicagoans’ high gas bills, the huge savings that can come from going electric, and the huge federal tax credits for low-income individuals and families.
- The Chicago City Council should introduce clean building policies that help create a market for energy efficient appliances in new construction and provide existing buildings with the money and resources to be able to. electricity to small communities and affordable housing.
- The city of Chicago and the state of Illinois must develop and implement a strategic plan for obtaining, implementing, and increasing access to Energy Reduction Act funds to advance energy infrastructure. in low- and low-income housing in Chicago and other cities across the state.
- The state and city should work with utilities, labor unions, and existing clean house industries (electric power, heat pump equipment, etc.) to develop employee training programs and contractors will create a workforce ready to meet the era of clean buildings. exchange.
Starting this change today will ensure that residents see the biggest energy savings that can create a sustainable and sustainable Chicago.