Physics P1 3.4 Cost effectiveness matters.

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What does cost effectiveness mean?
Getting the best value for money.
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What do we need to do to compare the cost effectiveness of different appliances?
Take account of a number of different costs.
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When comparing the cost effectiveness of different appliances we must consider a number of different cost, what may these include?
The cost of buying to appliance, the cost of installing the appliance, the running costs, the maintenance costs, environmental costs and the interest charged on a loan to buy the appliance.
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Many householders want to reduce their energy bills but how may they do this?
They may buy newer, more efficient appliances (such as a new fridge), they could also install materials designed to reduce energy wastage (such as loft insulation).
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What is the time it takes for an appliance or installation to pay for itself in terms of energy savings called?
The payback time.
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What might environmental costs include?
The removal or disposal of old equipment and environmental taxes.
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Loft insulation costs £600 including installation, it saves £80 per year on the fuel bill. How long is the payback time?
7.5 years.
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**IN THE EXAMINATION YOU MAY BE GIVEN DATA ON DIFFERENT APPLIANCES AND ASKED TO COMPARE THE DATA TO DECIDE WHICH APPLIANCE IS THE MOST COST EFFECTIVE**
**MAKE SURE THAT YOU CAN WORK OUT THE PAYBACK TIME FOR DIFFERENT APPLIANCES OR METHODS OF INSULATION***
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**LOOK AT DIAGRAM OF ENERGY LOSS FROM A HOUSE**
**
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Card 2

Front

What do we need to do to compare the cost effectiveness of different appliances?

Back

Take account of a number of different costs.

Card 3

Front

When comparing the cost effectiveness of different appliances we must consider a number of different cost, what may these include?

Back

Preview of the front of card 3

Card 4

Front

Many householders want to reduce their energy bills but how may they do this?

Back

Preview of the front of card 4

Card 5

Front

What is the time it takes for an appliance or installation to pay for itself in terms of energy savings called?

Back

Preview of the front of card 5
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