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When shopping for appliances, going cheaper isn't always the most cost effective way to go. By buying an appliance with the Energy Star tag you can save more money over the life of the appliance. Americans spend on average $2200 annually on electric bills, but by using energy efficient appliances they could save at least $75 per year on energy costs while also doing something good for the earth. The cost of owning a home appliance has three components: the initial purchase price, the cost of repairs and maintenance, and the cost to operate it. The more energy efficient an appliance is, the less it costs to run, and the lower your utility bills. When shopping, look for appliances with the Energy Star Guide that will help you to compare efficiency and annual energy use with other brands.