The Economic Benefits of Green Building: Appliances

By now, everyone has heard the term “green building” as a description for environmentally safe, sustainable construction. However, for some, green building »”>green building brings to mind something out of a science fiction novel: roofs sparkle and shine with solar powered panels, wastewater is recycled, and geothermal pumps heat and cool water while small white windmills, cables stretching into homes, spin in a good breeze.

Unless you’re in the industry, the idea of green building may be just a little too much to swallow. You may not think it’s worth it for you to build/buy a green home, or update your home. However, the long-term benefits of green building make the short-term costs – in time and money – well worth it.

Economic Benefits
Whether improving your home or having a new home built, going green can make a large difference to your wallet, and one of the biggest area of long term savings is appliances. While the up-front costs could be higher, almost doubled for top-of-the-line, the overall savings may surprise you.

Savings
The EPA estimates that the U.S. spends over $140 billion each year on energy bills. In 1992, the Energy Star program was introduced to promote energy-efficient products in an attempt to combat that cost.

Energy Star appliances use 10% – 66% less energy or water than regular models. As Americans began to buy these appliances, the national cost dropped; by 2006, that cost had dropped by $14 billion dollars.

Don’t just think about the cost of green appliances; keep in mind that any appliance has a life span. An Energy Star refrigerator may cost you $1000, but it can save you as much as 15% of your energy bill. For an average household, that’s approximately $150 a year. With most refrigerators lasting at least ten years, the green version will pay for itself at least a year before you have to buy another one.

While green building isn’t just about energy-efficient appliances, they are a good start on saving you money and protecting the environment. Oh, and don’t forget about that 30% tax credit incentive!