How much can you save by switching lightbulbs?

The Technocrat recently did the math and decided to replace all of his incandescent bulbs with compact fluorescents. The up-front cost was huge, but he calculated the new bulbs would pay for themselves in just six months.

You can get a six-pack [of compact fluorescents] that costs less than $30, with each bulb putting out as much light as a 60 watt bulb, while only using 13 watts each. In addition, these bulbs are rated for anywhere between 8000 to 10,000+ hours.

When we moved into this house, we contacted a local nonprofit group called The Energy Trust, which works with consumers and utilities to lower energy consumption. We scheduled a free home energy audit. The audit yielded several small one-time tax credits and cash incentives (which are used to reduce the bills from contractors) and about a dozen free compact fluorescent bulbs. In total, we saved about $250. Not bad for an hour spent with the energy auditor!

There are probably similar nonprofit organizations in most major metropolitan areas. A large contractor (such as a heating contractor or an insulation contractor) could probably steer you in the right direction.

GRS is committed to helping our readers save and achieve their financial goals. Savings interest rates may be low, but that is all the more reason to shop for the best rate. Find the highest savings interest rates and CD rates from Synchrony Bank, Ally Bank, GE Capital Bank, and more.