BBB, Partners to offer Minnesota Saves program February 19

Burnsville, Minnesota – February 4, 2014 – Better Business Bureau of Minnesota and North Dakota (BBB), along with local partners the Minnesota Department of Commerce, Minneapolis Federal Reserve Bank, Financial Planners Association, MilitaryOneSource and the University of Minnesota Extension, will offer a program called “Minnesota Saves: Stop Passing Your Buck$” on Wednesday, February 19 at the BBB’s office in Burnsville. This is part of “Minnesota Saves,” a local initiative to support the national America Saves program which promotes positive savings behavior to consumers, businesses and employees.

The local BBB signed on this year as state coordinator of the newly organized Minnesota Saves campaign. In addition to helping consumers avoid scams and fraud, this is an annual opportunity for businesses and organizations to promote the benefits of financial well-being to their employees, as well as a chance for everyone to assess their own savings status.

“We’re very excited to be the first BBB to serve as state coordinator for this initiative,” said Lisa Jemtrud, Director of BBB Institute for Marketplace Ethics. “We’re also honored to partner with such distinguished agencies for a worthy cause such as this.”

Mike Rothman, Director of the Minnesota Department of Commerce, will serve as keynote speaker of the event, followed by other experts in a variety of fields from the public and non-profit sector. This event serves as a lead-in to America Saves Week, which takes place February 24 through March 1. Military Saves Week is observed during that same week at all military installations.

The Minnesota Saves event on February 19 is free and open to the public. Lunch is included, but registration is required (thefirstbbb.org/events). Space is limited. 

The 2013 Annual National Survey Assessing Household Savings  revealed that only about half of Americans reported good savings habits.

54% said they “have a savings plan with specific goals.”

43% said they “have a spending plan that allows you to save enough money to achieve the goals of your saving plan.”

50% of those not retired said they “save for retirement at work through a 401(k) or other contributory plan.”

41% said that, “outside of work,” they “save automatically through regular preauthorized transfers from checking to savings or investments.”

49% know their net worth.

Event details:

Minnesota Saves: Stop Passing Your Buck$

Wednesday, February 19, 2014

11:30 a.m. – 1:00 p.m.

Better Business Bureau

220 S. River Ridge Cir.

Burnsville, MN 55337

Register at thefirstbbb.org/events. To learn more about America Saves, visit americasaves.org.

Cold Weather Tips

SAINT PAUL, MN - A long and cold winter is on our doorstep. With temperatures dropping, the Department of Commerce is providing Minnesotans with simple and inexpensive ways to save energy, save money and keep their homes safe this winter.

“Minnesota is known for our 10,000 lakes and freezing cold winters,” said Commissioner Mike Rothman. “Consumers can take simple and low-cost measures to save on energy costs and prevent expensive repairs. A small amount of preparation can go to great lengths in leading to more energy efficiency, comfort and safety all winter long.”

The Commerce Department’s Division of Energy Resources is committed to helping Minnesotans make informed decisions about their energy use. In that effort, the Minnesota Department of Commerce encourages all Minnesotans to follow these simple household tips:

· Set your thermostat low; use a programmable thermostat. Set your thermostat as low as is comfortable when you are home and awake. Turn down the temperature about 10 degrees manually or via your programmable thermostat at night when you go to bed and when you’re not at home. This can reduce your heating bill by about 10 percent, or $100 per year.

· Seal air leaks to prevent cold air infiltration around chimneys, vents, pipes, and wires. Plugging air leaks is one of the most cost-effective ways to conserve energy and increase comfort and is the key to preventing ice dams.

· Look for the ENERGY STAR^® label when purchasing new household products. ENERGY STAR signifies strict energy efficiency and reliability guidelines set by the Environmental Protection Agency and the U.S. Department of Energy (DOE).

· Weather strip and caulkwindows and doors to eliminate air infiltration.

· Cover drafty windows with tightly sealed plastic to keep the warm air in.

· Open curtains and blinds on south-facing windows to let the sun in during the day to naturally heat your home, and close them at night to reduce the chill from cold windows.

· Close your fireplace damper when a fire is not in use and install airtight doors to prevent warm air from escaping. If the fireplace is no longer used, seal the flue with an inflatable plug.

· Maintain your heating system. Have your furnace or boiler inspected annually to ensure maximum efficiency and safety, consider replacing mechanical systems if they’re old or inefficient, and clean or replace furnace filters regularly as needed. For wood and pellet-burning heaters, clean the flue vent and the inside of the appliance to improve efficiency.

· Maintain your water heater by turning it down to 120 degrees Fahrenheit. Not only will this save energy, it will reduce the chances of scalds.

· Use light-emitting diode or LED holiday light strings to reduce the expense to decorate your home for the winter holidays.

· Take short showers - with low-flow showerheads - to reduce hot water use.

These energy-saving tips were collected from several sources, including the DOE. For more information on energy efficiency and energy conservation, visit the Division of Energy Resources (DER) website and check out two energy guides: “Home Envelope” and “Appliances, Lighting, Electronics” (click on Information Resources > Consumer Guides).

DER recommends advanced energy audits of homes to diagnose the best strategies to save energy. Audits can be facilitated through your electric or gas utility, visit the Minnesota Building Performance Association for a list of certified auditors, or contact nonprofit energy groups such as the Neighborhood Energy Connection.

Changing Bulbs Can Save More Than a Little Change

One of the easiest ways to save money on energy bills is to replace inefficient light bulbs with bulbs that produce just as much light but use less energy, according to Carl Pedersen, North Dakota State University Extension Service energy educator.

The federal government has attempted to encourage the increased use and technological development of more efficient bulbs. In 2007, President Bush signed into law a bill that required any light bulbs sold to meet minimum efficiency standards. Traditional incandescent bulbs do not meet these standards, so these bulbs are being phased out of production.

While the bill has been met with resistance and efforts to repeal the bill, it also has caused significant changes in the lighting industry.

States have addressed the bill in a variety of ways. In Texas, the federal standards have been exempted. On the other hand, California implemented the federal standards a year early.

Whatever personal feelings one has about the law, energy-efficient light bulbs do save money and energy.

"People often do not think about the two costs that electronic equipment has," Pedersen says. "There is the original purchase price and also the price of using the electronics. While it is true that an energy-efficient bulb will cost more to purchase, consumers easily will recoup the initial costs in energy savings."

Pedersen uses his home as an example.

"If I assume a light bulb in my house is on eight hours a day, at my current electricity rate, a 60- watt bulb will cost me $14.02 a year," he says. "If I replace that bulb with an equivalent compact fluorescent light (CFL), I will pay $3.04 in energy costs for that light, which is a savings of almost $11 a year on just one bulb. My kitchen fixtures have 10 bulbs, so that is a potential savings of $110 in just one room."

CFLs are not the most efficient bulbs being sold in stores. Light-emitting diode (LED) lights use roughly half the energy of CFLs. LED lights that can be used in traditional light fixtures are being added to retail store shelves more often. While they are expensive ($20 to $50 per bulb), they are rated to last for years under normal use and will pay for themselves many times over in energy savings.

Other options that have developed are halogen bulbs that meet the new standards but are not nearly as efficient as CFL or LED bulbs. The advantage of the halogen bulbs is that they perform similarly to a standard incandescent light bulb.

"Replacing every bulb in the home is not recommended," Pedersen says. "It would not make sense to replace all the bulbs with more efficient lights because some lights do not get used enough to warrant replacement. However, replacing the most heavily used light bulbs does make sense, but consumers need to be careful when shopping."

As with any purchase, there are issues with the quality of the product and making sure the right bulb is purchased for a particular situation. For example, CFL bulbs are not recommended for use with dimmer switches, in enclosed recessed-light fixtures or in ceiling fans with high vibrations. There are efficient lighting options for dimmers and recessed-light fixtures, but consumers need to educate themselves on the purchase they are making.

The U.S. ENERGY STAR program provides more information on determining the best lighting options at http://www.energystar.gov/lighting. A link is provided on the NDSU energy Web page as well at http://www.NDSU.edu/energy.

Energy Saving Gifts

Fergus Falls, MN –If you’re wondering what to give this holiday season, consider gifts that save energy. Energy savings is a gift that keeps giving year round. Otter Tail Power Company offers these energy-saving gift ideas for the people on your list. For additional suggestions, visit the company’s www.ConservingElectricity.com web site.

LED desk or piano lamps - For students, musicians, and people with home offices, consider sleek and modern LED lamps designed for desk or piano. LEDs (light-emitting diodes) are highly efficient, long-life, cool-operating bulbs that provide bright task lighting at less than 10 watts.
LED flashlights - Get the same benefits of LED lighting for handymen or outdoor enthusiasts with LED flashlights. High-tech designs use durable waterproof casings made of aircraft-grade aluminum alloy and strong LED bulbs capable of delivering bright 225 lumens in turbo mode.

Smart power strips - Plug computers and home electronics into a single smart power strip so they can be turned on and off conveniently with one switch. Phantom energy users, such as digital displays, instant-on features, and battery chargers, continue to consume electricity even when they’re in standby mode and can account for 5 percent to 10 percent of your home’s electrical bill. Unplugging them is the most effective way to avoid wasting electricity. Savings add up when you power down.

Personal radiant heaters - These radiant heaters use only 150 watts of electricity (compared with 1,500 watts used by typical space heaters). But placed nearby, they keep the user warm, allowing lower room temperatures. They also work great for warming bathrooms without raising the temperature in the entire house. These heaters are safe around children and pets. And at only 8 pounds, they’re easy to move from room to room.

Motion-detecting digital picture frames - Energy-saving digital picture frames turn themselves off automatically after not detecting motion for a period of time set by the user. Or turn off the motion-detection sensor and operate these frames by remote control.

Programmable thermostats - Users can program these thermostats to optimize energy savings to match their comfort levels and schedules. Heating and cooling are the biggest energy users in a typical home. Setting lower temperatures while the house is unoccupi ed or the occupants are asleep can save significantly on heating costs; likewise, setting higher temperatures while the house is unoccupied in the summer can reduce cooling costs.

Compact fluorescent lightbulbs – You can brighten someone's holiday and increase the everyday lighting efficiency of their home—without sacrificing lighting quality—by helping them replace their incandescent lightbulbs with compact fluorescent lightbulbs. Year-around, lighting can account for as much as 25 percent of a home's electrical use. CFLs cost a bit more than incandescent lightbulbs but last up to ten times longer and use up to 75 percent less energy. Today's CFLs come in a variety of sizes, shapes, and wattages and can be used in almost any conventional light socket or lamp. They offer light levels and color quality comparable to incandescent lighting.

Always look for the ENERGY STAR label when selecting electronic devices or appliances. They use significantly less energy than regular products that are not ENERGY STAR rated.

“And remember, whenever you select electrical products, make sure they bear labels indicating that they have been tested by independent agencies, such as Underwriters Laboratories,” says Otter Tail Power Company Safety Services Manager Eric Hamm. “Electricity is a powerful tool. It also can be a lethal hazard. But the UL label, or label from another certifying agency, ensures good safety standards and helps prevent electrical hazards.”

Otter Tail Power Company, a subsidiary of Otter Tail Corporation (NASDAQ Global Select Market: OTTR), is headquartered in Fergus Falls, Minnesota. It provides electrici ty and energy services to more than a quarter million people in Minnesota, North Dakota, and South Dakota. To learn more about Otter Tail Power Company visit www.otpco.com. To learn more about Otter Tail Corporation visit www.ottertail.com.