Buying a new appliance–whether it’s a fridge, dishwasher, or TV–is one of those rare things that only happens a couple of times a decade, usually brought on by a previous version breaking, or in the flurry of a house move.
It’s exciting–a brand new fancy appliance to use! However, it’s also tricky having to decide which product is right for your needs, and critically, your budget.
The price tag is what most shoppers look for first, and that’s fair enough when the costs of some new appliances are in the thousands, but when it comes to comparing, there’s another sticker worth looking out for: the Energy Star ratings.
The Energy Efficiency Star Ratings are made to help us understand how efficient an appliance is. The higher the number of stars, the more efficient it is, with ratings of up to 10 stars.
Why do energy efficiency ratings matter when buying a new appliance?
While a higher energy-efficient appliance will likely cost more than a less efficient option, Canstar Blue research shows that paying a little more on day one could mean more savings in the long term.
We’ve compared appliances with different energy efficiencies to see how much they cost at purchase, their cost to run over one year, and then how long it would take to make the difference in purchase price back.
Looking at running costs alone, making the energy efficient switches we’ve calculated below could save you $492 per year.
We’ve tried to use the most comparable products in our research, but keep in mind that each appliance is different, and more expensive products typically come with extra features on top of their added efficiency.
It’s also important to note that the scale of energy efficiency varies between appliance types as some appliances are more technologically advanced than others. This means that a low energy efficiency for a clothes dryer could be 7 stars, while a high energy efficiency for a washing machine could be 5 stars.
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| Clothes dryer | Stars | Cost at purchase | Annual running cost | Time to repay difference |
|---|---|---|---|---|
| Low energy rating | 7 | $1,299 | $49 | 9 years |
| High energy rating | 9 | $1,749 | $38 | |
| Difference | 2 | $450 | -$11 | |
| Washing machine | Stars | Cost at purchase | Annual running cost | Time to repay difference |
| Low energy rating | 3 | $479 | $164 | 7 years |
| High energy rating | 5 | $2,399 | $72 | |
| Difference | 2 | $1,920 | -$92 | |
| Dishwasher | Stars | Cost at purchase | Annual running cost | Time to repay difference |
| Low energy rating | 3 | $1,088 | $116 | 4 years |
| High energy rating | 4.5 | $1,199 | $97 | |
| Difference | 1.5 | $111 | -$19 | |
| Air con | Stars | Cost at purchase | Annual running cost | Time to repay difference |
| Low energy rating | 3 | $1,749 | $601 | 5 years |
| High energy rating | 4.5 | $3,279 | $518 | |
| Difference | 1.5 | $1,530 | -$83 | |
| Fridge | Stars | Cost at purchase | Annual running cost | Time to repay difference |
| Low energy rating | 4 | $1,199 | $116 | 4 years |
| High energy rating | 8 | $1,699 | $52 | |
| Difference | 4 | $500 | -$64 | |
| TV | Stars | Cost at purchase | Annual running cost | Time to repay difference |
| Low energy rating | 4.5 | $1,995 | $276 | 5 years |
| High energy rating | 7 | $3,695 | $162 | |
| Difference | 2.5 | $1,700 | -$114 | |
| Pool pump | Stars | Cost at purchase | Annual running cost | Time to repay difference |
| Low energy rating | 2.5 | $549 | $410 | 3 years |
| High energy rating | 6 | $999 | $301 | |
| Difference | 3.5 | $450 | -$109 |
Source: Canstar Blue. Assumes usage rate of 33.4c/kWh. Does not include supply charge. Air con usage at cooling. Water usage costs for dishwasher at $3.43/kL
Keep in mind that the costs calculated above only account for savings in electricity usage. Some energy-efficient appliances that also use water to operate, such as a washing machine, may deliver higher savings over time due to reduced water usage.
Energy saving tips
While an energy efficient appliance can pay off in the long run, it takes time to see those savings in effect. While it’s good to look out for the environment, and your wallet, there are other ways to reduce your electricity costs and enjoy the benefits faster.
- Compare providers. One of the fastest and easiest ways for Aussies to save on energy bills is to switch to a provider offering a cheaper plan. Our research shows that in most states, you could save over $300 per year by switching from the average energy plan to the cheapest.
- Adjust the temperature. Heating and cooling are two of the biggest contributors to your power bill. When you’re heating your home, every degree above 22 can add up to 10% to your running costs.
- Consider energy monitoring. If you notice inconsistencies on your power bills, it might be worth installing energy monitors to get real-time data on your electricity usage.This can help you make the most of time-of-use tariffs, and alert you to any appliances that have high running costs.
- Check your appliance settings. Is your fridge running too cold? Is your TV off or on standby? Many modern appliances have settings or programs that can be used to reduce their power usage. Consider using the eco mode on your washing machine and dishwasher, or reducing the amount of devices you have on standby.
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