Price, rather than energy efficiency, is the determining factor when Australians buy new electrical appliances.
Comparison website finder.com.au said 41 per cent of consumers failed to consider the energy rating even though such a feature could save them money.
The top three priorities were price (88 per cent), brand reputation (63 per cent) and features (60 per cent).
Finder’s Angus Kidman said Australian households were missing out on potential savings by not considering the energy efficiency rating of new appliances.
“Don’t be dazzled by cheap prices – a power-hungry appliance can end up costing you much more in electricity in the long run,” Mr Kidman said.
“For instance, a more energy-efficient dryer can save you $1,000 over 10 years, so it’s worth spending more.”
Of the 2,085 respondents surveyed, Baby Boomers were the most energy-conscious generation with 73 per cent considering an appliance’s energy rating versus 60 per cent of Gen X, 47 per cent of Gen Y and 43 per cent of Gen Z.
But it was hardly surprising Australians considered the initial outlay above all else, Mr Kidman said.
“When you're comparing it can be hard to see past a low price or a snazzily-designed appliance,” he said.
“But it’s not essential to spend big to get a higher energy rating. Some of the cheaper options are surprisingly energy efficient.”
Mr Kidman said by switching to energy-efficient household appliances, consumers could save an average of around $380 a year on their energy bills or almost $4,000 over 10 years.
The survey also showed 64 per cent of men placed energy rating in their list of criteria when choosing an appliance, compared to 53 per cent of women.