If you are in the market for a new appliance, you might wonder if buying an ENERGY STAR-certified version will make a difference in your energy bills.

The short answer is yes, when you compare its estimated energy costs to its less efficient counterpart.

In fact, there are really two costs to consider before buying an appliance: the cost itself and the projected monthly energy costs.

The energy-conscious appliances donning the square-shaped Energy Star logo use 10 to 15 percent less energy and water than standard models, according to Energy.gov. For example, Energy Star clothes washers use about 40 percent less energy than conventional clothes washers while also reducing water bills.

And the longer answer is yes, if you consider the appliance’s lifespan.

Energy Star appliances and other products used throughout your home can save you a collective $750 over their lifespan, according to Energy.gov. (Besides appliances, there are other Energy Star-certified products, such as lighting and electronics).

While selecting energy-saving designated appliances could have a slightly higher price tag, they don’t always. Compare prices and don’t assume they cost substantially more than less efficient models.

The biggest bang for your energy-savings buck might be your refrigerator, especially if it is 15 years old or older. By replacing your old fridge with a new Energy Star-certified model, you can save more than $200 over a 12-year lifespan.

Tip: EnergyStar.gov offers a “Flip Your Fridge” calculator to estimate savings depending on the size and age of your largest kitchen appliance.

Bottom line? The typical U.S. family spends around $2,200 a year on home utility bills. Switching to ENERGY STAR products can help lower these costs over time.