How much will it cost you to make your home Carbon Neutral?
Many people are interested in making their homes more environmentally friendly, but don’t know where to start. In response to this, Scope Lending has formed an allegiance with Todae (www.todae.com.au). Todae provides a range of ecologically sustainable products and services that aim to make you feel good about making a positive difference to our environment without jeopardising your lifestyle.
Together with Todae, we have put together a simple “ready reckoner” so that you can see how much money it will cost you to make a dramatic positive change to your home's energy consumption.
The last column in this reckoner relates to what your repayments would be if you chose to borrow the money to pay for your products. It is surprising to see, that with many of the products you can have them installed and the savings that you make in electricity will nearly pay for the increase in your monthly loan interest payments.
|
This is what you can put in your house |
Approx Cost of Instillation (1) |
Expected Monthly Savings in $$ in 2007 (2) |
Expected Monthly Savings in $$ in 2011 (3) |
Expected reduction in CO2 emissions (per annum) |
Monthly Cost of Financing (assume 8% interest rate) (4) |
Monthly Cost/Savings after recouping 2011 Savings (5) |
|
Solar Hot Water |
$5,000 (after Rebates) |
$46 |
$92 |
3900Kg |
$60 per month (assuming 10 year loan term) |
SAVE $32 Per month |
|
|
|
|
|
|
|
|
|
Galaxy Downlights (LED) to replace 20 x Halogen lights running 8 hours/day
|
$2,500 |
$38 |
$76 |
3510Kg |
$51 Per Month over 5 year term |
SAVE $25 per month |
|
1kW Solar Installation (Panels guaranteed for 25 years) |
$6,000 (after Rebates) |
$22 |
$44 |
1726Kg |
$46 Per Month Over 25 year Term |
COSTS $2 Per month |
|
2kW Solar Installation (Panels guaranteed for 25 years) |
$16,000 (after Rebates) |
$44 |
$88 |
3453Kg |
$123 Per Month Over 25 year Term |
COSTS $35 Per Month |
|
|
|
|
|
|
|
|
|
Totals (if you choose 2kW Solar Installation |
$23,500 (after Rebates) |
$128 |
$256 |
10.8 Tonnes! |
$234 Per Month |
SAVE $22 Per Month |
All figures in first 5 columns provided by Todae. All figures in 6th column provided by Scope Lending.
Notes:
1. Based on average expected cost for a 3 bedroom house
2. Based on normal electrical usage for a household of 2 adults and 2 children.
3. It is widely expected that the price of electricity will double over the next 4 years and these figures represent your monthly savings in the event that this expected increase eventuates.
4. This is the amount that your monthly payments would be if you borrowed the money to install these products using your home loan. The term of the loan is linked to the likely life of the product (So it would be paid off by the time you may need to replace it). Interest rate used is 8% with P&I repayments.
5. This is the amount of extra money that you will have to fund from your own cash flow on a monthly basis in 2011.
Overall, this table shows that you can make your house completely carbon neutral, and it will only cost you an extra $234 - $128 = $106 per month now. BUT – in 4 years time, it will actually be cheaper to be environmentally friendly once the cost of electricity rises.
Todae’s service involves:
- Going out to your home,
- Assessing your needs,
- Providing a quote for the work,
Completely installing and testing your environmentally friendly products, so that you can fit out your house with minimal fuss
So, what are you waiting for. Go to www.todae.com.au or call 1300 138 483 and book one of their friendly team in to inspect your house and give you a personalized quote.
As a special offer to Scope Lending clients, if you book an inspection before 30th September, you will receive a solar powered mobile phone and MP3 charger valued at $69.95 complementary of Todae.