Make the switch from fossil fuels to 100% renewable energy! Not sure where to start? We’ve made it simple for you.
Over the next 5 years, we all have six steps to take to improve our climate, health and wallets:
Step 1 Take Ownership with 100% renewable energy (review your current electricity provider); and add solar panels to your roof to save more (with the victorian government rebate).
Step 2 Replace gas heating with electric split system air conditioning.
Step 3 Replace gas hot water with an electric heat pump (with the victorian government rebate)
Step 4 Replace gas cooktop with an electric induction cooktop.
Step 5 Replace your petrol/diesel vehicle with an electric vehicle. Compensate for your current vehicle emissions as you transition (Go Neutral).
Step 6 Review your energy usage and take steps to be more energy efficient
Transitioning to a sustainable, energy-efficient lifestyle isn't just good for the planet—it's also great for your wallet, especially in Australia, where the sun is your best mate in slashing energy bills.
When you install solar panels, particularly with the Victorian government's rebate, you could see savings of up to $1,000 to $2,500 annually on electricity, depending on your system size, energy usage, and local feed-in tariffs.
Replacing your gas heating with an electric split system, along with switching from a gas hot water system to an electric heat pump, can reduce your reliance on gas. Considering that the average gas bill for an Australian household is around $600 to $700 per year, eliminating this can result in substantial savings, especially when you factor in the efficiency and lower operational costs of these electric systems.
Upgrading to an induction cooktop from a gas cooktop not only enhances your kitchen’s efficiency but also cuts down the gas bill. If we conservatively estimate that cooking accounts for about 20% of your gas usage, switching to induction could save you an additional $120 to $140 yearly.
For the car switch, assuming you're driving a petrol car that costs around $2,400 annually in fuel (based on 15,000 km annual travel and fuel at $1.60 per litre), shifting to an electric vehicle (EV) could reduce your 'fuel' costs to an electricity equivalent of about $600 per year, given current EV efficiency and electricity rates, saving you up to $1,800 annually.
Lastly, energy efficiency improvements across your home can further trim your energy bills. For example, using an energy monitor and making strategic energy-saving changes could reduce your electricity bill by another 5-10%, potentially saving an additional $100 to $250 annually, depending on your current usage and energy rates.
Combining all these changes, the total potential annual savings can be substantial.
You're looking at a ballpark figure of potentially $3,000 to $5,000 in savings each year when you factor in the solar panels, elimination of gas usage, reduced electric vehicle running costs, and overall energy efficiency improvements.
Island Energy has helped hundreds of homes on these kinds of journey's towards securing their energy. But we have also seen far greater savings for high usage home owners consuming large amounts of non-renewable energy save in excess of $10,000 per year as they reduce their energy demand, pivot their use patterns and become smarter on their electrification journey's.
These figures underscore a compelling financial narrative: by investing in sustainable home upgrades and phasing out the reliance on fossil fuels, you're not just contributing to a healthier planet—you're also setting the stage for significant long-term financial returns.
Making the switch to a greener lifestyle is not just an environmentally conscious decision, but a financially savvy one, particularly in the sunny and energy-forward thinking landscape. Get smart with Island Energy
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