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Tuesday
Jun072011

Save energy = saving the planet = saving money

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Gone are the days when only tree-hugging hippies cared about the environment.

Nowadays, it seems that more and more of us are latching on to the significance of doing what we can to reduce carbon emissions on both an individual and a collective level.

The advantages of making subtle lifestyle changes are obvious, but it’s not just future generations that will benefit. In the here and now, you can also reap the rewards as there are savings to be made if you become a home-based eco-warrior.

Image courtesy of Colin JagoeSwitch suppliers

The biggest savings on an annual basis will probably be made if you switch energy suppliers. Too many people are simply unaware of the fact that staying loyal to one company for a long period of time doesn’t necessarily guarantee that you get good value for money. Through price comparison websites like moneysupermarket compare energy prices and you’ll be surprised at the difference between what you pay now and what electricity and gas may cost you in the near future.

Lights out

You should ring fence the extra money straight away and get really committed to doing your bit for the planet by investing in energy-efficient products like light bulbs, which will in turn put a few more dollars back in your wallet. An Energy Star-rated bulb, for example, should last 10 times longer than a normal bulb and could save more than $40 in electricity costs. Imagine these savings multiplied for every bulb in every room all around the house.

Switch off

Wasted energy is wasted money so switch on to making more savings by switching off lights and appliances when you’re done using them. Get out of the habit of leaving your TV or computer on standby, especially if you’re not planning on using them for some time, and always turn them off at the socket.

Load up

The clothes washer, dishwasher and dryer are all guilty of using a lot of energy so make sure you only use them when it’s totally necessary and when you need a full load doing to make them as efficient as possible. Here’s another radical suggestion - dry dishes by hand! Or hang clothes out to dry rather than use a dryer. These tips may involve a little more effort on our behalf, but think of the money you’re saving and what you could with that extra cash.

Insulate

Having the correct insulation in the loft and walls means you can lower the temperature slightly on the thermostat. Furthermore, if you have one, you should also try to use your air-conditioning unit as sparingly as possible.

Recycle and reuse

This mantra may not be relevant to saving energy, but it could be adopted nonetheless, as it’ll save money and give you the peace of mind that what you’re doing is good for your planet.

Moral of the story here is that sustainability can be a real financial tool. Having more money isn't just about making more money. By creating efficiencies in how and what you consume can help save money is more than just what your purchasing every week. Economics is all about explaining how to efficiently allocate scarce resources so take a look at how you consume and try to find ways to be more efficient. Personally I just switched to an energy efficient air conditioner and bulbs in the house and have noticed a real drop in the electric bill - it works! 

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Reader Comments (2)

It is so important to reduce and reuse as a part of budgeting! I often reuse clean aluminum foil and I wish more people would think about how much money they could save by making a few changes here and there. Great post!

It depends only upon us! So lets follow this smart advice

February 3, 2012 | Unregistered Commenterbuy essay

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