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How much can you save through Small energy Efficiency Measures

How much can you save through Small energy Efficiency Measures?

on May 29 | in All, Personal Finance | by | with No Comments

While we are all aware of how much energy efficient measures can save us in the long-term, implementing these in reality is far easier said than done. Some of the measures require a significant up-front investment (think solar panels, for example), while others may be time consuming and challenging to complete. The consequence of this is that many of us refrain from following an energy efficient path through life, damaging the environment and our own wallets as a consequence.

Would your outlook be different if you could see how much you can save? This is debatable, as although the lure of a more energy efficient home and a thriving natural environment should serve as strong motivation we are all bound by financial constraints. The lure of saving money or generating a profit is extremely enticing to the typical home-owner, especially who struggle as inflation and the cost of living continue to rise at a disproportionate rate to the national, average wage.

So how much exactly can you save? Let’s start with solar panels, which are renowned for their costly purchase price and significant return on investment (ROI). These panels cost between £5,000 and £7,000, although most experts predict that they will repay this sum over a period of seven years. In terms of profitability beyond this point it is important to note that rising energy prices will have an impact on all future savings, and with the cost of electricity expected to increase by 2.6% per year until 2030 this offers a huge opportunity for solar home-owners to generate significant revenue. These are potentially huge savings, and those with the necessary disposable income should certainly consider investing in solar power over the course of the next five years.

There are other, lower cost measures that should also be considered as options. Take replacing the household desktop computer with a laptop, for example, which can deliver savings over just under £20 a year and reduce energy consumption by 85%.

In addition to this, you can also purchase low-cost draft excluders and Polyfilla products to fill any unwanted gaps within your home. These gaps and cracks leak a staggering 20% of all energy from the typical British home, but plugging them can translate into financial savings in excess of £20 per year.

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