AOL's WalletPop personal-finance site recently ran a story titled "10 Most Costly Appliances," which details the high expense of running that equipment—$2,160 per year, according the Alliance to Save Energy.

There are a number of other ways to cut your utility bills, and "Save Energy, Save Money" shows you the benefits of replacing old, inefficient models with a new high-efficiency dishwasher, refrigerator, washing machine, and other appliances. And don't forget, proper use of a programmable thermostat can cut your heating and cooling costs by up  to 20 percent.

Also keep in mind that you can save some significant cash on the purchase of equipment by taking advantage of cash for appliances rebates and federal tax incentives.

—Gian Trotta

Essential information: Learn about the GE GeoSpring electric heat-pump water heater. Visit our Energy Saving & Green Living guide and energy saving at home forum for more ways to make your home more efficient. Check out our cash for appliances buyer's guides to air conditioners, dishwashers, refrigerators, washing machines, and water heaters and find the best places to buy appliances. To stay on top of the latest cash for clunkers for appliances news, follow us at Twitter.com/CRHomegarden.