Refrigerators keep food fresh, but they can take up as much space on your electric bill as they do in your kitchen. Thanks to modern technology, today’s refrigerators use far less energy than older models. If your unit is at least 10 years old, consider replacing it with a new, high-efficiency product. It’ll help take the heat off your energy budget.
How much will I save?
When shopping for a new refrigerator or freezer, look for the ENERGY STAR label. ENERGY STAR certified units are up to 20 percent more efficient than standard models.
What is the cost difference between an old and new refrigerator and how much will you save? ENERGY STAR estimates that a standard, 10-year-old, 19 to 21 cubic foot refrigerator will cost about $77 a year to operate at the current nationwide average electricity rate of 11 cents per kilowatt-hour. A new ENERGY STAR rated model of the same size would cost $57 a year—a savings of $20 a year; $100 over a five-year period.
Cost and savings will vary depending on the size, type and age of your current unit. Use the Refrigerator Retirement Savings Calculator to find out how much you can save.