We're all looking to save every penny these days.
One of the biggest expenses: home energy costs.
Imagine a little box that could save you up to 25 percent on your next electric bill.
The inventor of the "KVAR" unit claims that’s what his product does.
KVAR stands for Kilovolt Amp Reduction. If you’re not an electrician, maybe that sounds complicated. Inventor Greg Taylor says when you install the little box on the load side of the breaker box inside your home, it will absorb and store the excess electricity. Bottom line: the unit keeps the flow of energy going through a motor at an even rate and keeps energy in the house to be re-used when needed.
Taylor says the KVAR unit won't harm your equipment, you still get the same amps, voltage and power. He says it's currently in use in more than 17-thousand homes in the U.S. right now. Your electrician can install it in less than an hour, he says.
The Cost: about $400.
Taylor says you’ll start getting that money back as soon as you hook it up.
PECO tells NBC10 that it’s mainly concerned about safety implications. A spokesperson for the utility says a professional should definitely install this kind of device. PECO has not conducted studies or tests itself on the technology so the utility can't comment on the results.
PECO says consumers should remember there are other easy ways to save on bills: energy-efficient products, such as fluorescent light bulbs and keeping your home well sealed.