Carbon emission goals could help homeowners with savings

Overlooking the Green Deal incentives could be costing you money.

08:31 01 July 2013

The UK isn’t meeting its goals for reducing carbon emissions, and the Green Deal that was initiated to help homeowners build greener homes, and convert to greener energy hasn’t had the effect that was expected. The plan allows homeowners to convert to greener energy at no up-front cost, and the savings from the greener technology pays off the loan for converting to a “green” home. Surprisingly, this is a programme that could allow people to deposit into a savings account.

 

• Free upgrading. This Green Deal is essentially offering people the opportunity to turn their homes into greener homes, help the environment, and it provides savings on energy utility bills in the future, which is just money in the account.

 

• Long-term vision. The programme, combined with another incentive, offers customers the chance to receive payments from the electric company once the loan for upgrading the home has been paid off. Imagine how quickly your savings would grow if you put extra payments from the electric company directly into your account.

 

• Compounded effects. One of the most important parts of this particular Green Deal is that the more people who take advantage of it, the more the economy and public will benefit. Using greener energy options that are renewable not only helps the environment, but it would drive down the cost of utilities for everyone, because the energy company wouldn’t need to use its resources on traditionally produced electricity. While this may not immediately cause a direct positive effect on your savings, the reality is that within a few years you would probably notice improvement in utility bills.

 

• Sustainability. While the effects of upgrading your home to green technology will be more immediate, there’s also environmental benefits to using energy which is sustainable. The fact that it is sustainability may even affect things beyond energy such as the cost of products, and a healthy environment is invaluable.