"Washing Machines And Fridges Could Be Much Cheaper To Power By 2027"

"Rules proposed by the U.S. Department of Energy are projected to reduce emissions and save consumers billions of dollars".

"The Biden administration on Friday proposed stricter energy standards for household washing machines, refrigerators and freezers to reduce emissions while also saving consumers money.

The Energy Department said the changes to regulations, which have not been updated in over a decade, would save Americans about $3.5 billion a year on energy and water bills while reducing emissions of harmful greenhouse gases. Homeowners would save an average of $295 over the 14-year life of a new clothes washer and $130 over the life of a new refrigerator.

Appliance companies, however, would need to invest approximately $2 billion over the next three years to update product designs and manufacturing lines to comply with the new standards, the Energy Department conceded. The department estimated that in one of the more likely of five economic scenarios, the compliance costs could cause a 15 percent to 30 percent drop in the industry’s value. But it also said that revenue could grow substantially."

Steven Mufson reports for the Washington Post February 10, 2023.

Source: Washington Post, 02/14/2023