74% of Americans Unprepared for Rising Summer Energy Costs: Study

A recent study by DuraPlas Inc., a DFW-based HVAC components producer, reveals that 74% of Americans are not prepared for increased summer energy costs. The study, released this month, highlights the potential impact of the summer heat on household budgets, with nearly half of respondents (48%) stating they would cut back on dining out or entertainment to cover the additional expenses.

This information emerges amidst a dangerous heatwave sweeping the nation.

Rising Energy Costs and Lifestyle Adjustments
According to the study, 77% of participants expect their summer energy bills to rise, and 63% have already made lifestyle adjustments to manage these costs. Nearly a quarter of these individuals describe the changes as significant.

Scott Baradell, a spokesperson for DuraPlas, emphasized the importance of annual HVAC maintenance. “Skipping annual maintenance might save a couple of hundred dollars, but it can lead to thousands in unexpected costs due to premature unit breakdowns,” Baradell explained.

Lack of Regular HVAC Maintenance
The study also revealed that nearly 70% of respondents are not regularly maintaining their HVAC systems, which could help control these costs.

The Impact of Inflation on Energy Bills
Inflation is further straining budgets, with electricity prices expected to increase by about 10% this summer compared to last year. Baradell warned about the potential costs of HVAC failures. “A compressor failure or similar issues could cost thousands, leaving you and your family sweltering if you can’t cover the expenses. Regular maintenance and setting aside funds for unexpected challenges are crucial.”

Cost-Saving Strategies
Simple measures like changing air filters can improve system efficiency. Other cost-saving strategies include taking shorter showers, air-drying clothes, and setting the thermostat between 72 and 78 degrees.

Importance of HVAC Maintenance
Baradell assured that it’s not too late for HVAC maintenance. “You can still have maintenance done in June or July. Any time is better than not doing it, and you’ll start saving money immediately,” he said.

As energy costs rise, preparing through maintenance and mindful usage can help households manage expenses effectively.