Can you save the planet without paying the Earth?
14/12/2007
It’s easy to see the benefits of a greener lifestyle – and most of us are prepared to make a few sacrifices to help save the world. But how much do you have to spend to show your green credentials?
Our guide looks at some of the hidden costs of going green – and how you can still protect the environment without seriously damaging your wallet.
Car trouble
Electric and dual-fuel cars may escape environmental penalty charges, but they won’t prove very economical in the longer term – one popular model’s value depreciates by 43 per cent a year. A petrol engine motor can lose as little as 14 per cent, according to What Car And even electric cars don’t run for free.
A better option would be to walk, cycle, join a car-share scheme or take public transport – although you may struggle to keep costs down. According to Which?, the cheapest train ticket between London and Glasgow is about 75 per cent more than the cheapest flight.
To help ease your conscience, you can visit www.carbonneutral.com to buy credits that offset your carbon footprint. These cost from £4.50 to £45-plus for flights, depending on distance, and between £23 and £45-plus for car travel.
Environmentalism begins at home
One of the easiest – and cheapest – ways to be greener is to reach for the off switch. Putting appliances on stand-by continues burning up around a third of the electricity they use when they’re on. You can also cut waste by doing washing on a cooler cycle, drying it outside instead of in a tumble dryer, swapping showers for baths and turning down the heating and hot water a few degrees.
According to Stop Climate Chaos, an organisation dedicated to combating global warming, you could save several hundred pounds. You can increase your savings by comparing energy prices with LowerMyBills.co.uk, which will show you where to find the cheapest fuel deals.
Although they cost more to buy – around £4 each – replacing your lightbulbs with low-energy versions could save you £100s more over time. Go to www.stopclimatechaos.org for more money-saving ideas.
To buy or not to buy
Shopping with a conscience can really raise your green credentials when it comes to food – but locally-produced, organic and free range products are also likely to cost you substantially more than factory-farmed alternatives.
In a trial in November 2006, Which? spent £22.54 on an organic shopping basket, against just £12.69 for an economy version. They point out, however, that organic box schemes are normally delivered, which saves on supermarket trips.
When it comes to clothes, it’s fairly simple to be both green and thrifty – just go for vintage and avoid ultra-cheap imports. Other suggestions include swapping outfits with friends and making joint investments in higher-priced items.
Renew and recycle
Recycling is becoming easier and can make a real difference to your bank balance as well as the environment. Stop Climate Chaos estimates that 80 per cent of British household waste could be recycled, so take advantage of the bins provided by local councils and you could avoid a surcharge on your council tax while you minimise the need for landfill and incinerators.
Harnessing the sun
If you’re really committed to protecting the environment, you may want solar panels to help generate power for your heating, hot water and electricity. According to Curry’s, the electronics chain, this will cost around £9,000 for an average three-bed house. It takes an average of nine years to recoup your costs, depending on the amount of fuel you use and fuel price inflation, although other estimates suggest that it could be as long as 30 years.
According to the Royal Institution of Chartered Surveyors, a solar panel that only heats your water will cost £5,000 and – on an energy saving of just £24 a year – will take 208 years to pay back. On the plus side, you might be able to get a government grant to cover some of the cost.
Be ready for change
If you want to go green on a budget, start by working out what you can afford. For an instant snapshot of your financial position, take a look at your credit report. This is a key element of your financial CV and details your borrowings, such as loans, cards and mortgages, along with your repayment history.
Lenders look at it when they decide whether or not to make you an offer, so you should check it out before applying for credit to fund a green commitment.
Make sure that everything is up to date and accurately reflects your circumstances – that way, you’re more likely to get a good deal that will help you become more eco-friendly.
You can see your Experian credit report for free with a 30-day trial of CreditExpert, the online credit monitoring and identity protection service.
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