Points to Consider When Making an Environmentally Friendly Energy Transition for Your House

House-owners face several challenges while implementing sustainable, environmentally-friendly policies in their house. The transition to green energy may come with high-initial investment costs, and one may need sustainable energy loans and other services of banks like Alex.bank to take the plunge. However, it is without a doubt true that every effort made in the direction of a sustainable tomorrow is worth it.

The transition process has been made much easier with the provision of sustainable energy loans and other incentives offered by these innovative digital banks. Additionally, the loan application procedure is simple. These loans also get approved in minimal time so as to promote this progressive change in society. If you plan to make environmentally friendly house improvements, such as installing solar panels, it’s best to choose a trusted digital bank for assistance.

It is vital to do comprehensive research on green energy and choose the best energy companies and green energy schemes if you plan to make the shift. Here are a few things to consider before making the transition.

Assess Your Current Energy Consumption

The first and possibly most significant thing one must do before deciding on which energy scheme to opt for is to compute their current energy consumption requirements. Use your residential electricity bills corresponding to the past twelve months for this. Identify what your most energy-intensive appliances are if specific house areas use up more energy than others.

For instance, if you live in a large house with several air conditioning units, energy consumption at your home may be much higher. The annual growth rate of the solar power sector in Australia was around 41.7 in 2019.

Once you assess your consumption requirements and per kWh energy consumption costs, decide which type of green energy you want to use in your home.

Choose the Best Green Energy Source for Your Needs

Hydro, solar, and wind energy sources power about 21% of the total energy supply in Australia. Analyse each source based on their respective advantages and disadvantages to determine which one is best for your home.

The size of your house is a vital aspect to consider when making this choice. You may also note that “green energy” is an umbrella term (not limited to renewable energy) and could include green energy products like GreenPower or carbon offsetting.

So a more accurate way of choosing your green energy source may be by choosing an energy supplier first. Do not ignore the climate of your location. If you live in a location in Australia with minimal sunlight, solar power may not be a good option.

Choose the best energy Supplier

A very important part of making the energy transition is choosing the best energy supplier. At present, even commercial energy companies that sell standard electricity and gas plans have begun to sell green energy products.

Before you choose an energy supplier:

Check if they own renewable energy assets like solar farms or hydroelectricity plants. If you have an integrated home office, then your energy consumption requirements may be considerably high.
Compare different energy suppliers offering green energy in your location before finalising one.
Consider checking the reviews and ratings of different business energy suppliers in your location.

Assess the Range of Services Provided by the Bank

Several digital banks specialise in offering solar loans to residential and business customers in Australia.

The cost of energy plans offered is one of the essential points to consider. Discuss your sustainable energy loan requirements with the bank’s representatives directly. Since these experts specialise in helping users assess their sustainable energy loan requirements, they can help you compute your loan requirements accurately. You can also try using online sustainable energy loan calculators to compute your repayment requirements accurately.

If you do not want to make a complete shift right away, you can start by choosing an energy supplier that uses more green energy than standard energy. You may also check if the solar energy company has “peak hours” or other similar conditions.

For instance, if most of your energy consumption happens at night (from extensive use of air conditioners or something similar), check if the company offers discounts for energy usage during these hours. The company and government may offer discounts and tariffs for green energy usage. If you plan to use GreenPower, check if the plan is compatible with your requirements.

Some companies offer “green power” in addition to your energy tariff. Learn about the tariffs and discounts you are eligible for.

Compare Interest Rates

In some cases, the cost of solar energy may be higher than the cost of your standard energy plan. In most cases, you can recoup your initial installation costs and other costs in the long run. However, it is best to compare the interest costs of sustainable energy loans offered by different banks. Also, check for hidden costs and early loan repayment costs. Banks like Alex bank can help you meet your transition costs and simplify bill payments and installation cost payments.

State’s Energy Regulations

The cost of energy, available tariffs, and other conditions may vary from state to state. The state governments offer discounts and tariffs specific to residents in those states.

Additionally, companies like Origin offer benefits like everyday rewards to customers. Also, check the market interest rates and check if the interest charged by the bank is reasonable.

Ensure that you buy clean energy from authorised and licensed suppliers.

Carbon Neutral Initiatives

Some commercial energy suppliers in Australia offer carbon-neutral plans and products to customers. You can compare plans by prominent energy suppliers like AGL, Origin, and EnergyAustralia.

Choose companies that work to minimize carbon emissions, support decarbonization, promote energy efficiency and practice corporate responsibility and sustainability policies. Find out if the company has a higher score than 9.5 on 10. Some of these top-rated companies own wind farms and other green energy sources.

Use Tracking and Monitoring Tools

You can now buy smart meters and other effective tracking and monitoring tools for green energy sources. Additionally, homes may also have to change their usual energy conservation strategies, appliance usage, and similar aspects in the initial stages.

It is best to follow a trial and error mode in the beginning until the entire unit and all your family members get used to the new changes. For this reason, it’s best to choose banks that offer flexible repayment terms, repayment schedules, and other flexible arrangements.

Final Thoughts

Explore the benefits of shifting to sustainable energy before choosing it for your home and save the environment from tactical and strategic point of view. Besides doing your part to ensure environmental sustainability, you are also helping create job opportunities in the green energy sector by choosing green energy for your home.