Everybody wants to be “greener.” Companies like Lynas Corp. are working hard to mine the materials we need to make energy efficiency as affordable as possible. The problem is that, while we wait for those materials to become widely available, a lot of the things that will truly help you reduce your carbon footprint and help the environment are expensive and seem like a giant hassle. But is going green really going to hurt your budget or deplete your bank account? It might seem like it right now, but what about over the course of the long term?
Light Bulbs
CFLbulbs are more expensive than their incandescent counterparts. On Amazon.com a four pack of 60 watt incandescent bulbs goes for approximately eight dollars while a four pack of Ecosmart CFL bulbs is around twelve. The lifespan of one of those CFL bulbs, however, will surpass all four of the incandescent bulbs, which means that you are actually saving money on the bulbs themselves as well as on your energy bill. LED light bulbs are considerably more expensive. A single LED 60 watt bulb costs almost $20 on Amazon, but that single bulb has almost ten times the lifespan of a CFL and will reduce the cost of your electric bill by even more. So, while the initial purchase of the LED bulb is the most expensive, in the long term it more than pays for itself in both bulb replacement and energy savings.
Hybrid Cars
Everybody wants to drive a Hybrid car because they get such great gas mileage. On the other hand, these cars are quite a lot more expensive than their “regular” competitors. Their batteries also need to be replaced more often and cannot be reused or recycled. So you have to weigh the cost of having to replace the environmentally damaging battery in the car (which can be thousands of dollars) more often against the savings in gas prices. Sure gas prices are high, but there are “normal” cars whose mileages are now comparable to that of a hybrid car and those “normal” cars are built to last longer than the hybrid car so overall the savings end up being better for a regular car than that of a hybrid car.
Solar Panels
Everybody knows that installing solar panels will reduce your energy costs and carbon footprint by a tremendous amount. The problem is that solar panels are still incredibly expensive. Not only are the panels expensive but having them installed usually requires extensive construction work on your home or property which can run you thousands and thousands of dollars into debt on top of what you’ve already spent on the panels themselves. Yes your energy bills will be lower but will they be enough lower to help you pay off your debt in a reasonable amount of time?
These are just three areas in which people talk about the “cost” of going green. The best thing you can do is make sure you thoroughly research both the current and long term cost and savings for any green measures you’re thinking of taking.
We have considered getting solar panels here. I am glad we waited on our last house because we ended up moving and the investment usually takes 5 years to pay off. I think we will probably be doing it on our next house. If you are someone that moves around often, I would say the cost would not be in your favor. Thanks for this post, great things to think about.