Rising Summer Energy Costs Catch Many Americans Unprepared, Study Finds

Survey findings from DuraPlas reveal that few budget for the increased expenses of keeping their homes cool

ADDISON, Texas–(BUSINESS WIRE)–DuraPlas, a leading provider of innovative plastic solutions, today released findings from its 2024 Cost of Summer Cooling Report. The report highlights homeowners’ lack of financial preparation for rising summer energy costs, which can lead to significant financial strain and lifestyle adjustments during the hottest months.

The survey, conducted through the third-party platform Pollfish, asked 600 U.S. adults about their expectations and preparations for summer energy expenses. The objective was to understand how people anticipate and manage the financial impact of keeping their homes cool during the summer.

Key findings from the survey include:

• 74% of people do no financial preparation to handle increases in energy bills in the summer – Despite 77% expecting some level of increase in summer energy bills, the majority do not save in advance or budget for the anticipated rise in costs, leaving them vulnerable to financial stress during the hotter months.
• Over 60% cover summer cooling costs using their regular income, with nearly half saying they’d cut back on dining out and entertainment if necessary – Many Americans are living paycheck to paycheck, with unexpected energy expenses forcing them to make on-the-fly budget adjustments, often resulting in reduced spending on leisure activities.
• 63% of respondents have made at least moderate lifestyle changes due to increasing energy costs – Rising energy costs have already forced many Americans to alter their spending habits, with almost a quarter of respondents saying they’ve had to drastically adjust to keep up.
• Almost one-third of homeowners believe regular HVAC maintenance would help them better control their summer cooling costs – While many understand the importance of HVAC maintenance, a majority still neglect this critical step, potentially leading to higher costs and system failures. This trend mirrors findings from last summer’s survey, where only 30% of respondents reported scheduling regular HVAC maintenance.

“Summer is a time for vacations, sun and serious fun–but that also means serious strain on the HVAC systems working around the clock to keep us cool,” said Paul Phillips, President of DuraPlas. “Our survey shows that Americans aren’t prepared for the dark shadow of HVAC issues they may encounter, and run the risk of increased costs from higher energy consumption or system repairs. But with a little financial prep, the right equipment and regular maintenance, families can step back into the sun with the confidence of knowing their HVAC system will be there to cool them off when they return.”

For complete survey results and additional insights, visit the 2024 DuraPlas Cost of Summer Cooling Report.

About DuraPlas

For more than 50 years, DuraPlas has upheld a rich legacy of pioneering innovative plastic solutions for industries worldwide. With a well-established reputation for excellence and a strong commitment to customer satisfaction, the company takes pride in its ability to deliver products that not only meet the highest quality standards but also uphold responsible business practices. Utilizing state-of-the-art injection molding equipment, DuraPlas meticulously manufactures a comprehensive portfolio of industry-specific products – from the newly launched condenser mounting pad for the HVAC industry to egg transport systems in agriculture. The company’s expansive 200,000-square-foot headquarters in Addison, Texas, also includes specialized divisions for custom metal fabrication and custom plastic fabrication, enabling DuraPlas to meet the diverse needs of its global clientele, including some of the largest brands in the world. To learn more, please visit https://duraplasinc.com/.

Contacts

Anne Alo

Aalo@ideagrove.com