Many lifestyle habits affect how you spend your money. If your morning ritual requires a cup of caffeine, most of your budget goes toward your favorite coffee shop. If you drive motor vehicles, gas drains your pocket money. Or if you like fashion, you invest a lot of your savings on the latest clothes. Even living more sustainably influences your financial standings. Here are some of the ways going green saves you money.

Eco-Friendly Tax Incentives

As a means to promote environmental habits, the government provides eco-friendly tax incentives. There are many sustainability stimulants, from the renewable electricity production tax credit (PTC) to the residential clean energy income tax credit. When diving deep into incentives like the alternative fuel infrastructure tax credit, you’ll see that it includes up to 30,000 dollars and a 100,000-dollar maximum return.

Each incentive offers different amounts of credit depending on the environmental impact, cost of products, and current policies. Implementing certain sustainable home additions and practices qualify you for credit income on tax returns.

Retail Environmental Discounts

Many retail services also offer green incentives. They provide discounted rates on sustainable items and practices, like reusable coffee cups and grocery bags. They also increase the costs of single-use items like plastic bags. Making the most of retail incentives can save you from adding small unnecessary charges to your shopping expenses.

Reducing Your Home’s Carbon Footprint (Infographic)

Infographic Provided By The Solar Energy Company, Route 66 Solar

One-Time Reusable Purchases

Reusable products prevent the over-consumption of resources and reduce the production of waste. Using reusable items stops you from making multiple purchases, as it encourages you to make one long-term investment.

Constantly buying single-use products adds up total costs, even if they come at lower prices. They are also often lower quality, forcing you to buy and spend more on replacements. Reusable items often contain more durable and long-lasting materials. Although their upfront costs may seem double that of their single-use competitors, they save you more in the long run.

Efficient Utility Bills

There are many pros and cons of converting your home to solar power. One of the major benefits is improved energy efficiency. The more energy usage you cut out, the lower the electricity bill will be. Similarly, using other energy-efficient technology—water-efficient showers and dishwashers, SMART LED lightbulbs, heat pumps, etc.—reduces utility bills.

If you use a lot of energy, your bills can easily pile up. Cutting back on water and electricity usage with sustainable practices or technology reduces those bills, saving more money. Going green reduces a lot of unnecessary costs and provides opportunities to earn money back as a reward for your good doing. Implementing more sustainable and eco-conscious efforts into your lifestyle allows you to save the planet and money.

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