Community Investment Corporation: Gas Prices Are Rising

Gas Prices Are Rising: How To Curb Costs

We’re sure this comes as no surprise to you that gas bills are up 50% and higher, affecting total operating expenses and digging into profits of multifamily property owners this year.

Below are recommendations from Larry McCarthy, former CIC Capacity Building Director, and John Kane, CIC Construction Manager, to lower your gas bills this winter. For more information, email qa@cicchicago.com.

Larry and John’s SWEET SIXTEEN Suggestions to Keep Your Gas Bills Down

Heating Systems

Boilers

Service and maintain your boilers. Atmospheric boilers require attention every three years while power boilers should be serviced annually.
Remove dust and dirt from radiators and convectors annually.
Make sure steam traps and/or steam vents are functioning properly.
Install a programmable thermostat and check it monthly.

Individual Forced Warm Air Furnaces

Replace or clean filters monthly.
\Check the ducts. Properly sealing and insulating duct work can reduce heating and cooling costs by 15-20%.

Water Heaters

Install a setback timer on domestic hot water systems to lower temperatures during off-peak times.
Insulate hot water and boiler pipes that run through unoccupied areas.
Reduce the temperature setting on domestic water heaters from 140-60 degrees to 110-20 degrees to save 20% on gas consumed by the appliance.
Flush sediment, monthly from water heaters. Sediment acts as an insulator and causes you to use more gas to heat water and prematurely ages the tank lining.
Switch to the lowest water temperature setting on washing machines and dishwashers to reduce the fuel consumed by these appliances by approximately 25%.

Drafts

Caulk window frames.
Weather-strip doors and windows.
Insulate exterior wall electrical outlets and switch boxes.
Install storm windows and storm doors.
Install top floor ceiling insulation to eliminate escaping heat.