Short and long term ways to save money by using alternative energy

In light of rising oil prices and concern for the environment many consumers are looking for ways to reduce their dependency on fossil fuels. Alternative energy sources like the sun and wind are naturally renewable and free to use! The downside is that the financial outlay required to harness this energy can be quite high. However, even if you can’t afford major changes there are ways to affordably harness alternative energy that can save you money in the short term.

This article suggests ways to save money by using short term alternative energy in the home, long term alternative energy in the home and alternative energy powered transportation.

-Short term solutions around the home-

There are many nifty gadgets available which use alternative energy and can assist in lowering your home energy bill. Take lighting; there are both indoor and outdoor solar powered lights which are completely free to operate. You simply place them or the solar panel connected to them outside to capture the suns rays. Indoor lights come with a thin wire connection several meters long to reach the light inside. Basic solar powered light kits can be purchased for around $19.95-$39.95. Considering lighting represents approximately 10% of your annual energy bill solar powered lighting can quickly produce a saving.

There are also solar powered torches, cell phone chargers, laptop chargers and Christmas lights. Why not reduce your home energy bill by buying solar powered Christmas lights this year!

Other alternative energies are used in small gadgets which can save you money. There are portable wind generated chargers for iPods, pdas and laptops, wind up radios and torches and hydrogen powered children’s toys like car racing kits. Imagine the money you could save by reducing your child’s dependence on energy consuming game consoles.

-Long term solutions around the home-

A home can run purely on solar or wind power when an adequate system is installed, meaning that you could say goodbye to energy bills. However, this typically costs tens of thousands of dollars to set up. Most people therefore look to gradually install alternative energy systems. A lot of companies now offer grid connect systems. With these systems you install a few solar panels or a small wind generator which get relied upon before you need to use the paid energy source.

It is a good idea to install a solar hot water system to save money on water heating bills. They typically cost around $2000 to install, but most households use in excess of $600 annually to heat water. This means within a few short years your system will have paid off.

If you are interested in switching to an alternative energy system then make sure you check to see if you are eligible for any rebates or tax credits. Many governments around the world are offering incentives to install alternative energy. For example, in Australia the government is giving up to an $8000 rebate to try and get homeowners over onto solar power.

-Transport-

The increase in gas prices has made many households stop and think about their usage at the pumps. In addition tightening emission laws have prompted research into powering cars by alternative means. There are many vehicles which harness alternative energy rather then gas alone to function.

One of the most commonly adopted alternative vehicles is the Hybrid electric car which uses a combination of gas and electric batteries to run. These cars can run on one tank of fuel for many miles further then the standard car, resulting in cheaper gas bills for the owner. Examples are the Toyota Prius and the Honda Civic. However these vehicles meet with two criticisms, the first being that they still require gas to run and the second is that the increased cost of the vehicle means the owner has to drive many, many miles before they actually begin to save money.

If you do drive a lot or intend to keep your vehicle for many years these cars can save you money. However, if you are looking for more immediate savings for a smaller outlay there are some other options.

If possible fill your car with an alternative fuel like ethanol combined fuel. Ethanol combined fuel combines gas with a vegetable source such as corn or sugar. These fuels have attracted government subsidies due to their positive effect on greenhouse gas emissions. This means that these fuels are often several cents cheaper to fill up with. Most newer cars can tolerate up to a 15% blend of ethanol.

In some parts of the world liquid natural gas prices are much more reasonable then fossil fuel petrol. In this instance it can be a wise investment to have your car converted to run on liquefied petroleum gas.

Another emerging market which does require a large outlay, but will cost you nothing at the pump is the electric vehicle. Electric cars are plugged into an electrical outlet to charge and are capable of driving a small range without the use of gas. An example is the Telsa Roadster. The performance and range of electric vehicles is coming along in leaps and bounds, but the cost of these vehicles is very expensive. However, if you set yourself up to charge your vehicle through alternative energy like solar power you could effectively run your vehicle for no cost which would enable you to recoup the purchase price more quickly.

If you have a few thousand dollars to spend there are electric bicycles and scooters which could make travelling around your local area very affordable. Many other alternative energy based cars are currently in the works including; air powered, hydrogen based and solar powered vehicles.

Alternative energy is set to become the way of the future. The sooner you can begin to get on board with the new technologies the sooner you can begin to save money!