How Can I Save Money By Going ‘Green’?

Historically, there has never been a better time for individuals or businesses to gain the benefit of both federal and state incentives and tax benefits for green living. Available federal incentives include tax credits and home loans for purchasing hybrid cars, installing solar panels for electricity or water heating, and installing home insulation.

Green Living Incentives

Most states offer their own incentives as well, such as utilities rebates to consumers who conserve electricity. Some utility companies offer ‘net metering’ for those who have solar, wind, or other types of their own electrical power production. Net metering allows consumers to receive credit for contributing more electricity than they use, allowing for the potential to earn money.

Some business incentives for green living include energy reduction tax credits, efficient commercial buildings tax deductions, another tax credit for green builders, as well as energy-efficient appliance tax credits for manufacturers. States such as Washington are now offering no sales tax on renewable energy equipment produced there as well as other great incentives. Some cities offer “density bonuses” to green developers as well.

Below: A thin cell commercial solar power array is displayed. In recent years the US state and federal government agencies have greatly expanded available solar power incentives making this renewable energy source more affordable by lowering costs, and funding research to make the technology more efficient.

Where to find Green Living Incentives

One of the best sources of information on green living incentives are from businesses that supply green home improvements such as solar hot water, solar power and insulation. There are also free online sources, such as the Database of State Incentives for Renewables and Efficiency (DSIRE). Through DSIRE, a USA federally funded project of the Interstate Renewable Energy Council, you can find information on state, local and federal green incentives.

If you live in Canada, the Office of Energy Efficiency (Natural Resources Canada) offers many incentives through the ecoENERGY Retrofit program. The High Efficiency Home Heating System Cost Relief program is also offered through Natural Resources Canada. The program offers up to $300 to homeowners who replace old gas or oil boilers with new high efficiency models. Canada also offers efficient vehicle incentives through the VEI (Vehicle Efficiency Incentive). Consumers purchasing fuel-efficient cars and trucks such as hybrids are eligible for rebates up to $2,000.

Solar Power and other Green Living Growth

The governments of most countries have slowly been increasing the amount of funding for green living during the past few decades. To a small extent, this explains the exponential growth of the solar power industry, and other green industries. Polyurethane spray foam insulation for homes, solar water heating, and solar power are a few great examples of things we can do to not only improve our quality of living but cut our energy bills and help preserve our environment at the same time. The earliest solar power systems had efficiency as low as 1%, while the latest advancements have made systems more efficient than ever possible, with rates as high as 40.8% or more (as of 2009).

Below: This Polyurethane Foam Roof is green because it will last the life of this Eichler home while it protects from leaks and insulates with millions of tiny closed cells which trap air and vapor movement. The cool roof coatings keep the roof surface temperature 50 to 100 degrees Fahrenheit cooler than a dark roof material such as asphalt or modified bitumen. The cool roof coatings and high quality insulation work together to improve the quality of life in such a home and can cut energy usage by 40% or more--which means reduced fossil fuel consumption for the local power plant.

Some Example of Green Living: Solar Power, Polyurethane Foam Roofing

Green building has also been on the rise, with both public and private entities being involved. For example, in Chicago, Illinois, a city hall was built with a completely natural green rooftop, full of plants and vegetation. These types of roofs are classified as either extensive, or intensive green roofs. These types of roofs insulate well and reflect sunlight instead of absorbing it, counter-acting the urban heat island effect. Even polyurethane foam roofing is considered green, although it does not include growing vegetation. Polyurethane closed cell foam is waterproof with high R-values, and is generally installed with reflective roof coatings. Simply adding a reflective roof coating (a light colored non heat absorbent material) can reduce cooling bills by as much as 20%. Add insulation as well, and the typical polyurethane foam roof (of 1" to 2") can cut both heating and cooling bills by as much as 40% or more.