Going green will be expensive at first but, in the long run, you may be saying, ‘Holla,’ with your dolla’ bills.
On Tuesday, Metro brought you up to speed on how a federally-imposed carbon tax of $50 per tonne will affect your budget. This time, we looked at the initial cost of becoming more environmentally friendly and the long-term effects.
The more energy efficient you are, the less carbon tax you’ll be paying, too. Plus, those rebate dollars could be stretched further.
Whether you like it or not, the provincial carbon tax will come into effect at a rate of $20 per tonne in January.
That means singles, couples and couples with two children will be paying $191, $259 and $338 extra per year on natural gas and gas alone, respectively.
Rebates for low- to middle-income earners will available at maximum amounts of $200, $300 and $360 for singles, couples, and couples with two children, respectively.
But even with Premier Rachel Notley’s pledge to seriously consider increasing rebates in 2022, when the federal $50 tax kicks in, the Canadian Taxpayers Federation says by that year, the tax would cost the average Canadian household $2,568 annually.
So, to make the most of all this tax, you could invest in some of these puppies that intend to save you cash down the road.
According to solar company SkyFire Energy, an average home would spend $18,000 to entirely mitigate energy costs from the grid.
Solar panels – $18,000
According to SkyFire Energy, it would cost you about $18,000 to cover an entire home with 24 solar panels, an inverter and a metre to entirely offset electricity costs you would spend. You’d also be on the grid, just in case you needed to generate electricity in other ways. That $18,000 cost would cover the average home, which uses 7,200 kilowatt hours. The company says you could pay nothing in the summer and $15 per month in the winter. SkyFire adds it would take you 10 to 20 years to make those savings back, depending on how electricity prices change.