5 Green Ways to Save Money at Home
5 Green Ways to Save Money at Home
How to go green at home and save money
There are all sorts of good reasons to make your home more environmentally friendly, from saving energy to saving the planet. But in the process, did you know that you can also save money? With their focus on efficiency and sustainability, green homes offer homeowners several ways to reduce their expenses.
From installing solar panels and battery storage to investing in an energy-efficient fridge, more homeowners are learning how to save money while saving the environment.
Consider these five green ways to save money at home:
1. A home solar system cuts down electric bills
Installing a home solar system is one of the most effective green ways to save money. But the question for many homeowners is how much? The answer depends on the utility rates where you live, the size of your solar installation and home battery system, and the amount of electricity that your family consumes. There are multiple online savings calculators to help determine your exact savings. But many homeowners find they're able to reduce—and often eliminate—their electrical bills. Depending on your utility, you may even be able to put power back onto the grid.
2. Green home improvement grants can reduce your renovation costs
In addition to the money you save on energy costs, homeowners can reduce the expense of their solar panel installations through grants. The federal government provides home improvement grants for qualified homeowners. Such grants are available to individuals in low-income and rural areas, Native American tribal members, and farmers who want to install or retrofit their homes and farms with solar power.
These grants provide real savings. For instance, the REAP program from the U.S. Department of Agricultural provides up to $20,000 in loans or grant funds for agricultural producers to improve their energy efficiency.
3. Use battery storage to provide extra power
Solar panels can reduce or eliminate your need to use grid power. But if you want to save even more money on your utility bill, then battery storage is the answer. Without battery storage, your PV system will only work while the sun is shining and you'll still rely on grid power at night. An intelligent battery storage system, however, collects and stores the excess energy that your panels generate during the daylight hours. You can then access the stored power whenever you need (at night, during power outages, or even during peak use hours) increasing your home's overall energy efficiency and your energy cost savings as well.
What's more, you don't necessarily need solar panels to store energy. The right energy storage system can work with or without a solar setup. So you can go green with battery storage even if solar isn't part of your immediate plan.
4. Rebates and tax credits make energy efficiency more affordable
Whether you’re installing solar power for the first time or creating a total home energy solution, there are a couple of ways to save money. First, some states, cities, utilities, and nonprofits provide cash rebates to homeowners once they’ve completed an installation. Explore your options with your certified installer. In addition, the federal government and some states provide a tax credit for homeowners implementing a Photovoltaic (PV) system. Thanks to the federal investment tax credit (ITC), you can deduct 26 percent of the cost of installing your solar power system.
5. Energy-efficient appliances are simple, green ways to save money
Pair your solar power and battery storage setup with energy-efficient appliances, low flush toilets, insulated windows, and more. This ensures that you’re optimizing your solar energy use and squeezing even more savings out of your budget. Not only do these laundry machines and dishwashers use less electricity, allowing your solar power to go further, but they also use less water. For example, homes with high-efficiency appliances and plumbing fixtures reduce water use—and water bills— by about 30 percent, according to Energystar.gov.
Understanding and reducing your energy use is a smart move and a worthwhile investment for many homeowners. A solar-powered home not only makes for a greener, more sustainable world, it can also put money back into your pocket.
Creating a sustainable home starts with energy efficiency. To learn more about how you can reduce your grid dependency, lower your energy costs, and save the environment, head to Panasonic's Green Living Blog. And contact Panasonic for more information about how their home solar system and battery storage solutions can work for your home.