Energy and Heating Trends

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It’s no surprise that home heating costs have risen dramatically this season. Supplies have diminished due to hurricanes and the lowest supply of world oil in thirty years. According to the US Energy Information Administration, energy consumption is projected to increase 1.1% each year. This year the cost of natural gas has increased 38% for consumers and crude oil’s not that far behind.

This past month my natural gas bill was approximately $188. That’s in an apartment of three where we keep the temperature 60 degrees on average. It is an old house with little insulation, but the heat wasn’t turned on until later than usual. That scares me considering the National Weather Service predicts this winter to be 4% colder than last year. I can’t imagine what our bill would be like if we set it even a few degrees higher.

Saving Energy

• For each degree you lower your temperature you save 1 to 3% on your heating bill.
• Close off spaces that might cause a draft: fireplace damper, attic, basement, closets.
• Reduce your hot water teperature.

The Future

Just recently, heating costs have declined due to warmer temperatures but that’s not for long. The average family can expect to pay $281 more this year for natural gas, and $255 for oil. But, you can expect prices to bottom out a bit come 2015. Below is the EIA’s forecast for energy prices through 2030.

Trends

You’ll see that soon after the hurricanes in southern United States, blog chatter about natural gas leveled off a bit after people prepared their expections for winter heating. The only major jump is on December 29 when the US Department of Energy released a report saying energy demands are up. I’m sure there’s much interest in what the new year holds. As for future trends regarding energy efficient vehicles, projections for hybrid vehicle sales in 2025 are up 31 percent compared to last year’s projections.

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