Putting your old freezer on ice will definitely help save you money on your utilities bill in the future. Recently, my neighbor had an old freezer that had to be at least twenty years old or more, and she was quite certain that she could save on their electric bill, but only if she went out and purchased a new one.
Even with a freezer that was twenty year old or more, there was no guarantee that it would not simply up and quit at any time. However, her getting twenty years of good service from her old freezer is definitely quite impressive. While some models last that long, many do not, but even though it still works, then you would still be wise to consider purchasing a new model.
Look at this as a chance to leisurely shop for the new model that you want and deserve, and perhaps even catch a good sale at the same time. That is much better than being forced to rush out to buy one when the old model decides to up and quit.
Your future energy savings are a good incentive, as well. Refrigerators and freezers are typically the largest energy users in a home, but that is after space and water heating. Since you will probably own it for a long time, then it definitely makes sense to carefully compare the expected energy use as well as the various features you want. The yellow Energy Guide label, which is on all new models, will show you the power consumption of each model that you are considering, plus it will show you how that model compares to similar units.
Your actual energy cost will likely be less than what is shown on the label, which lists the national average cost of electricity. That is over ten cents per kilowatt-hour, compared to some of the utility company's current rate, which is almost eight cents.
No one should ever have to urge you to consider purchasing an Energy Star qualified freezer. They use at least ten percent less energy than is currently required by the current federal standards. A new Energy Star freezer will use only about one third the electricity compared to what your old unit used. While Energy Star models do typically cost a bit more, in the long run the money that you save will make up for the difference within five or six years at current electric rates, according to calculators on the Energy Star Web site.
You will find Energy Star upright freezers with automatic or manual defrost and chest freezers with manual defrost only. Once you get your new freezer, I can only hope that you will recycle the old one. Old models are big energy wasters, so it is not a good idea to save them to store extra supplies. Doing that will just result in a higher electric bill.
The refrigerant used in old refrigerators and freezers is classified as a greenhouse gas and should be kept out of the environment. Without proper decommissioning, the refrigerant gas in these old units often escapes into the atmosphere.