Going green is not just good for the environment – it’s great for your wallet too. As we move into 2024, there are more incentives and cost-saving opportunities than ever when you make eco-friendly choices. Whether it’s switching to solar power, driving an electric vehicle, or just using less energy overall, green living pays off. Read on to learn some of the key ways you can save more green by going green in 2024.
Solar Power Systems
Installing solar panels on your home is one of the biggest investments you can make for reduced energy costs now and well into the future. The federal solar tax credit is still available in 2024, giving you back 26% of the cost of installing a solar system. When combined with other incentives like state/local rebates and net metering savings, a home solar system often pays for itself within 5-7 years. Once your system is paid off, you enjoy free electricity for decades. And as energy rates inevitably rise, your savings grow over time.
Electric Vehicles
2024 is poised to be a big year for electric vehicles, with more affordable models hitting the market and longer-range batteries becoming standard. Federal tax credits up to $7,500 still apply for most models in 2024. And when you calculate the savings from less maintenance, no gas costs, and potential utility rebates, EVs make both environmental and financial sense. Going electric can easily save the average driver over $1,000 per year. Some states even offer additional incentives for installing home EV chargers.
Smart Home Technologies
From smart thermostats to home energy monitoring systems, smart home tech gives you unprecedented control over your energy use. AI-powered devices like the Nest Learning Thermostat self-adjust to keep you comfortable while avoiding energy waste. And tools like the Sense Home Energy Monitor track real-time usage and identify “energy vampires” so you can save on costly appliances. With smart home upgrades, you can save 15-30% on heating/cooling bills and reduce wasted energy. In most cases, the tech pays for itself in under two years through energy savings.
Reduce Water Use
With droughts becoming more common, the cost of water is expected to rise across the U.S. in coming years. Installing water-efficient fixtures like low-flow toilets and faucets can reduce indoor water usage by 35% or more. Outdoor landscaping with native plants also cuts down on watering needs. In arid climates especially, dramatic water reductions yield substantial utility bill savings. Even smaller changes like taking shorter showers, running full loads of laundry, and addressing leaks quickly add up. Expect water conservation efforts to have an even bigger financial payoff in 2024 and beyond.
Weatherization Upgrades
Sealing air leaks around windows, doors, ducts and other areas of energy loss through weatherization upgrades provides huge savings on heating & cooling bills. Things like adding insulation, storm windows, weather stripping and caulking typically pay for themselves in less than one year. Then you can enjoy ongoing annual savings of 15% or more on home energy costs. And utilities often have rebates and incentives to make weatherization even more budget-friendly. Weatherizing your home in 2024 is one of the fastest ways to start saving money while increasing comfort.
Buy Energy Efficient Appliances
When your old appliances need replacing, spend a little more upfront to get the most energy efficient models. From refrigerators and washing machines to dishwashers and air conditioners, Energy Star certified appliances consume 10-50% less energy and water than standard models. Although they can cost $50-$100 more, their long-term savings of $40 or more per year quickly make up the difference. Just be sure to check databases like energystar.gov and consumerreports.org to confirm which specific models offer the best efficiency. Prioritizing efficiency for all future appliance purchases is one of the simplest paths to ongoing utility savings.
Reduce Wasted Food
The average family throws away over $1,500 worth of edible food every year. All that uneaten food ends up rotting in landfills as one of the biggest contributors to methane emissions. Beyond the environmental impact, hundreds of dollars flushed down the drain takes a real toll on household budgets. But with better meal planning, storage solutions, portion control and creative use of leftovers, it’s easy to reduce annual food waste by $500 or more in most homes. Doing so cuts methane pollution while putting real money back in your pocket.
Choose Energy Efficient Lighting
LED lighting continues dropping in price while getting brighter and more versatile for homes. Replacing all bulbs with LEDs can reduce lighting energy use by 75% or more. And with bulb lifespans of up to 50,000 hours, you’ll avoid frequent bulb replacement costs too. Although LEDs still have a higher upfront cost, they typically pay for themselves through energy savings in less than a year. Take advantage of local utility rebates to upgrade all remaining lighting fixtures to LEDs in 2024 for instant efficiency gains. Over the life of the bulbs, lighting electricity costs get cut dramatically.
Adjust Your Thermostat
One of the simplest ways to pare energy costs is adjusting your programmable thermostat to be more efficient. Set it lower in colder months and higher in summer months to use less heating and air conditioning. Smart and WiFi-connected thermostats make it even easier to set efficient schedules and control temps from anywhere. Get in the habit of tweaking your thermostat each season to align with real occupancy patterns and comfort needs. Program it for 1-2 degrees warmer when away at work or on vacation too. Small thermostat adjustments drive big savings over time, especially for all-electric homes.
Stop Using Paper Bills & Statements
Think about how much paper comes into your home every month between utility and credit card bills, bank statements, subscriptions and more. Receiving and dealing with all that mail has more financial and environmental costs than you might expect. Moving as much household paperwork to e-delivery as possible saves trees along with your time. Ditching paper billing alone can reduce personal paper usage by up to 50 pounds every year. Scale back standard mail delivery where you can in 2024 and beyond. Over time, the paper reductions really add up, saving precious forests one bill at a time.
Cancel Unused Services
It’s remarkably easy to overlook unused subscription services that deduct small monthly fees from your accounts. But things like unused streaming channels, cloud storage plans and smartphone apps can waste well over $100/year. Go through periodic reviews of all monthly and annual subscriptions to spot services not getting used. Cancel or downsize anything you don’t really need. Put reminders on your calendar to reassess subscriptions every 3-6 months. Keeping only truly useful services frees up small amounts of money that really add up.
Conclusion
Going green stands to save eco-conscious Americans even more money in 2024 through things like solar panel systems, electric vehicles, efficient appliances and smart home devices. And smaller habit changes around energy, water, food and subscriptions also quickly move the needle on annual savings over time. Being mindful of sustainability makes sense both financially and environmentally. The more green choices you incorporate into daily life, the more green you get back through impressive long-term cost reductions.