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July 2007

• July 8, 2007 - Compact Fluorescent Lighting

An Efficient Alternative To The Incandescent Lamp
The old adage “you can pay now or you can pay later” is true when it comes to lighting. Incandescent lamps have dominated the residential lighting market for years and still do today.  Why? Because they are cheaper to purchase and until a few years ago provided an unmatched quality of light.

Advances in lighting technology with the compact fluorescent lamp (CFL) have provided more efficient alternatives to the
incandescent lamp. After reviewing the following information you will be able to determine if CFL’s are for you!

Home Lighting Facts 

      • CFL’s use 70 – 75 percent less energy than their incandescent equivalents. When replacing a 100 watt incandescent lamp a 28 watt CFL is used.
      • CFL’s last approximately 7,000 – 15,000 hours, which is 7 to 20 times the life of an incandescent lamp (expected life
        approximately 750 hours).
      • CFL’s are most cost-effective when used at least 2 – 3 hours per day. 
      • Although CFL’s may appear different than the common incandescent, they fit most standard fixtures. The screw-in base is the same on both lamps. 
      • CFL’s are four times more efficient than the typical incandescent lamp which uses 90 percent of the energy to produce heat rather than light. 
      • The latest CFL’s have improved color rendition. The light is a warm tone that is almost identical to that of an incandescent lamp. Most people can’t tell the difference.
      • The adjacent table lists several standard incandescent lamps and the appropriate CFL that can replace them. 

Incandescent

Compact Fluorescent

20 -Watt

5 - Watt

40 - Watt

11 - Watt

60 - Watt

15 - Watt

75 - Watt

20 - Watt

90 - Watt

23 - Watt

100 - Watt

28 - Watt

 

The CFL will provide the same amount of light (or lumens) at a fraction of the electricity used.

The following illustration demonstrates the cost of using a CFL versus an equivalent incandescent lamp for 10,000 hours.

INCANDESCENT

COMPACT FLUORESCENT

75 - Watt

20 - Watt

Total Cost $69.21

Total Cost $23.79


Note: The price for the CFL is $7.00 with an expected life of 10,000 hours. An incandescent lamp is $.50 with an expected life of 750 hours. Electricity charge = 9.25 KWH.
If you operated the CFL in the above scenario for 4 hours a day the expected life of that lamp is 7 years, with a payback of 1.08 years when compared to an incandescent lamp.
Lighting cost can account for a significant portion of your electrical usage. If your intent is to become more efficient and lower your electric bill, install CFL’s. You can save money and energy with little if any inconvenience.

 
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• July 7, 2007 - LONG-TERM MORTGAGE RATES LOWER FOR THIRD CONSECUTIVE WEEK

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.63 percent with an average 0.4 point for the week ending July 3, 2007, down from last week when it averaged 6.67 percent. Last year at this time, the 30-year FRM averaged 6.79 percent.

The 15-year FRM this week averaged 6.30 percent with an average 0.4 point, down from last week when it averaged 6.34 percent. A year ago, the 15-year FRM averaged 6.44 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.29 percent this week, with an average 0.4 point, down from last week when it averaged 6.30 percent. A year ago, the 5-year ARM averaged 6.39 percent.

One-year Treasury-indexed ARMs averaged 5.71 percent this week with an average 0.4 point, up from last week when it averaged 5.65 percent. At this time last year, the 1-year ARM averaged 5.83 percent.

(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)

"Long-term mortgage rates continued to move lower for a third consecutive week, in part reflecting a moderation in core inflation," said Frank Nothaft, Freddie Mac vice president and chief economist. "In the statement accompanying their decision to leave the target federal funds rate unchanged, the Fed noted that core inflation had declined recently, though a 'sustained' moderation is still to be seen, and signaled that inflation risk continues to figure prominently in their policy decisions.

"Helping to ease some inflation concerns, May's personal consumption expenditures report found that the core price measure had increased 1.9 percent for the year ending in May, within the 1 percent to 2 percent range with which the Fed is comfortable, and the lowest year-over-year rise in more than 3 years."

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters in America.

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Paul & Randy are the Homes2Know Team & this is our Blog. Our Blog is designed to be a resource for buyers, sellers, homeowners, and those relocating to the Phoenix area.

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