What You Need to Know About Inflation and Rising Electricity Prices - Lindstrom Air Conditioning & Plumbing

What You Need to Know About Inflation and Rising Electricity Prices

Inflation and electricity costs

There are two things that you’ve probably noticed this summer. One, the unbelievable temperatures, in some places, record highs. And two, inflation, inflation, inflation. But how do these two go together? With rising temperatures comes increased use of air conditioning, and with rising energy prices, homeowners are faced with much higher air conditioning bills. This issue is affecting thousands of Americans. Local news and national news sources like the Wall Street Journal are reporting on this countrywide issue. WSJ reports electricity prices have gone up 12% in the past year; and with current world issues causing a rise in natural gas to above-normal temperatures predicted across much of the country, there are no expectations that the trend will slow down. And, if you’re in the market for a new A/C system or other HVAC equipment, you can expect to pay more than you would have just a year ago.

The Lindstrom Air Conditioning and Plumbing experts have a few things you can do to offset the cost of inflation.

Consider Energy Efficiency

If you’re looking for ways to save money on your energy bill, investing in a more efficient A/C system is a great place to start. High-efficiency HVAC systems may cost 20% more than their standard counterparts, but they also use 10-15% less energy, which can make up the difference over time.

Plus, If your system needs constant maintenance and repair, replacing it will save you money. Consider an upgrade if the malfunctions that you’re repairing include:

  • Blowing Lukewarm air
  • Smells and noises out of the ordinary
  • Little or no airflow
  • High humidity
  • Frequent on and off cycling

Look for Rebates and Incentives

Many utility companies offer rebates and incentives for customers who install energy-efficient HVAC systems. Check with your local utility company to see what’s available in your area. Also, the federal government offers a tax credit of up to $500 for energy-efficient home improvements, including HVAC systems. As of this moment, in July 2022, these credits haven’t yet been extended, but there are many renewable energy tax credits to look at while we wait for the HVAC tax credits to be announced again.

If you’re sweating it out this summer, remember you’re not the only one feeling the heat of the sun and rising energy bills, but don’t worry, we’ve got your back. Lindstrom Air Conditioning and Plumbing is here to help keep you comfortable – and save you money. Call us today at (800) 813-1824 to schedule your FREE estimate!

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