How to Cut Costs with a Home Energy Audit

Kevin McCormally: I am Kevin McCormally of Kiplinger's and I am here with Pat Esswein, the Housing Editor of Kiplinger's Personal Finance Magazine, to talk about Energy Audits. Pat, we know that energy prices are soaring, electricity, natural gas, home heating oil. You say that a home Energy Audit can help people save money, what is that? Pat Esswein: A home energy audit is basically a physical for your home that will show you ways that you can increase its energy efficiency. Kevin McCormally: Any way that I would know that I need to do this? Pat Esswein: You probably know if your home is uncomfortable, say because it's drafty or the curtains are billowing in the windows when the wind blows, maybe cold floors or room that is perpetually too hot or too cold. Kevin McCormally: Any other symptoms ? Pat Esswein: Probably the easiest way to figure out if your home has a problem is just to compare your home energy cost with those of the neighbor who has a similarly sized home. Kevin McCormally: Okay, so if I find out that my neighbor is paying a lot less to keep his house heated, what do I do ? Pat Esswein: The first thing you can do is sort of a, do it yourself audit. You can visit, you can Google a energy audit tool called "The home Energy Saver", that's a really comprehensive tool for serving your home or you might find that kind of a tool on the website of your utility company. Kevin McCormally: And that's going to give me some tips on needing, adding insulation or corking round windows and things like that. Pat Esswein: Visiting those websites will open up all variety of tips and information. Kevin McCormally: Okay, and if I want to go beyond that, is there some professional energy audit? Pat Esswein: Yes, if you hire a professional energy audit Auditor, typically someone you can find through the Federal Government's Energy Star Program or if you something called the Building Performance Institute. This Professional Auditor will come to your home, survey your energy usage systems, do very vital tasks. Kevin McCormally: And how much might I would be able to save if I follow all the great recommendations this Auditor is going to give me? Pat Esswein: Well, the audit itself may cost you up to about $500 but you should easily be able to regrew that cost through energy savings. Energy Star says that the typical home owner reduces their energy cost by about a third. Kevin McCormally: About a third of todays prices is, it's a lot of money. Thanks Pat.