How can I go green for less?

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Everyone is doing their bit to tackle climate change, but these changes can come at a cost. So how can you make an impact without breaking the bank?

How can I make my home greener overnight?

Going green with your electricity supply is the quickest and cheapest way to reduce your environmental impact immediately, and it usually costs less or the same as your standard supply. Consider moving supplier if yours can’t offer what you want.

There are also switching websites specifically to help households find green electricity. Many suppliers now offer green gas too, so ask your supplier for more information.

Going green with your electricity and gas supply

Most of us don’t renew our energy tariff with our supplier regularly, yet we can compare deals until the current deal enters a ‘switching window’ (between one and six months before its end date). Green tariffs shouldn’t mean changing supplier and it is the quickest and cheapest way to reduce your environmental impact immediately; and surprisingly, it usually costs less or the same as your standard supply. Ultimately, you should consider moving supplier if yours can’t offer what you want.

Why adding solar to your home makes sense

Even if you get a green electricity tariff from your electricity supplier, you are still being supplied by the national grid and, therefore, charged monthly. Moving away from the grid and your tie to an electricity supplier, producing your own renewable electricity, means you become your own electricity supplier. Allowing you to either reduce your dependency on the grid or only buy a small amount of electricity when you cannot generate enough on your own.

Additionally, the government has implemented various incentives to encourage solar adoption, making it an economically viable choice. The Smart Export Guarantee (SEG) allows you to sell surplus electricity back to the grid, potentially generating income. Furthermore, potential homebuyers are increasingly attracted to properties equipped with sustainable features, and solar panels are seen as a valuable asset that can help reduce future energy bills.

However, installing solar panels comes with a significant cost. There are options available, allowing you to make the investment, such as remortgaging to release funds for renovation. Make sure the option you take is right for you, and don’t make short-term decisions impacting your future.

For more information, contact your adviser who can support you and discuss the options available to you.

If you’d like to discuss the options available to you, contact your adviser today.

Source: Mortgage Intelligence (Published July 2023)

Photo by Kindel Media / Pexels

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