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You could save thousands by replacing your old gas appliances — and now is a great time to do it

Electric appliances tend to be more efficient.

Electric appliances tend to be more efficient.

Photo Credit: iStock

In most areas of life, you can lessen your impact on the environment by reducing the number of products you buy and continuing to use the ones you have. 

But that logic doesn't apply to certain appliances, which are constantly drawing on their fuel source as you use them. If you have gas-powered appliances, those cost a lot to run and generate a lot of heat-trapping air pollution, so — overall — the sooner you upgrade to electric, the better.

What gas appliances can be replaced with electric?

For many of us, the gas appliance we come face to face with most often is our stove. But electric stoves — especially new induction models — are way more energy-efficient than gas ones, and they're also healthier for your family. 

The same goes for furnaces. In most weather conditions, a heat pump is more efficient than gas-powered heaters — and could save you around $2,500 over 10 years. 

But if it gets extremely cold where you live, a heat pump may not run as well. In those cases, you may still be able to install a miniature one in addition to your furnace, or you might be a candidate for a geothermal system.

You can also check your water heater, furnace, clothes dryer, barbecue, and yard equipment like your lawn mower — anything that might be running on natural gas or gasoline. All of them have modern electric alternatives, even your car.

How will switching to electric save me money?

In most cases, electricity is the cheapest fuel source for your appliances, and switching can save you an average of $1,800 a year. 

That's partly because electric appliances tend to be more efficient — especially when you compare the most recent eco-friendly models to existing, older equipment, which isn't as advanced and which may be starting to wear out.

What's even better is when you combine electric appliances with the free electricity from a clean energy source like solar panels. Then you have total control over your own power supply, and you'll save even more money. It does take a big investment upfront, but it'll pay for itself and then some.

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