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5 Money-Saving Green Upgrades
October 30, 2019 at 11:03am | Preferred Advisors Team
Going green at home benefits not only the environment but also your wallet. Here are some cost-saving green upgrades for your home:
1. Solar panels: Buying solar panels may seem expensive at first. Although solar panels cost several thousand dollars to install, ongoing maintenance costs are very low, and a typical system could save you hundreds of dollars per year. You can even sell your surplus electricity.
(Image: New York Times)
2. Wood furnace: Wood-burning furnaces are relatively inexpensive, and though the yearly savings aren’t as dramatic (about 10% on heating bills), it adds up over the long run.
3. Insulation: There’s a good chance your insulation isn’t very efficient, especially in older homes. Look into installing a floor, cavity, wall, and loft insulation to reduce your heating bills.
(Image: Orion Magazine)
4. Rain barrels: Rain barrels are very affordable and provide gallons of free water to use when you wash your car or water your garden.
5. Geothermal system: A geothermal system uses the earth’s temperature to heat and cool your home and costs $30,000 to install. Using a geothermal system allows you to earn tax credits, which helps you earn back a lot of money from installation costs. It saves you energy costs of about $1,900 per year. If you plan to be in your home for a decade or two, it’s a great investment.