Appliance replacement: electricity savings and payback
Compare old and new electricity costs, payback and total costs over 5 and 10 years.
Compare old and new electricity costs, payback and total costs over 5 and 10 years.
This does not tell you to replace an appliance. Failure risk, safety, parts and comfort are separate factors. Repair is counted once in the old appliance total.
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Method
Annual savings = (Old annual energy − New annual energy) × Electricity rate
Gross replacement outlay = Purchase price + Installation + Disposal
Payback years = max(0, (Gross replacement outlay − Immediate repair needed to keep the old appliance) ÷ Annual savings)
Old total cost = Immediate repair needed to keep the old appliance + Old annual electricity × Comparison years; New total cost = Gross replacement outlay + New annual electricity × Comparison years
Notes
This does not tell you to replace an appliance. Failure risk, safety, parts and comfort are separate factors. Repair is counted once in the old appliance total.