Greener Choices Can Save You Money


While everyone, including businesses, pays the carbon tax, the cost of the carbon tax per family depends on the choices they make. By making climate smart choices and choosing a lower carbon lifestyle, British Columbians have an opportunity to save enough on their household expenses to come out ahead financially.

Whether you switch to energy-efficient light bulbs, shop locally for produce, or purchase eco-friendly upgrades in your home, your decisions can make a big difference. Simply driving 10 kilometres less per week will help offset the carbon tax for most British Columbians.

Taking steps to reduce your carbon footprint can lower your energy, water and fuel consumption – not to mention save you money in the long run.

Climate Smart Action to Save Energy and Money

 

Savings from Carbon Emission Reductions

 Carbon Tax Rate

2008

2009

2010

2011

2012

 

 

Savings

$10

 

$15

 

$20

 

$25

 

$30

dollars

Regularly tune up vehicle: tuning up and maintaining proper tire inflation can reduce fuel consumption by 10%: vehicle with fuel efficiency of 10 L/100km.

Fuel savings

240

240

240

240

240

Carbon tax savings

5

7

9

12

14

Total savings

245

247

249

252

254

Park instead of using the drive-through: Idling for 5 minutes in a drive-through lane can add up to 50¢ to the cost of your trip: vehicle with fuel efficiency of 10L/100km.

Fuel savings

91

91

91

91

91

Carbon tax savings

2

3

4

4

5

Total savings

93

93

94

95

96

 

 

 

Slow down: Reducing highway driving speeds from 100km/hr to 90km/hr can reduce fuel consumption by as much as 15%: vehicle with fuel efficiency of 10L/100km

Fuel savings

360

360

360

360

360

Carbon tax savings

7

11

14

18

21

Total savings

367

371

374

378

381

 

 

 

Switch to transit:  assumes distance to work is 25 km, vehicle with fuel efficiency of 10L/100km and a two zone transit pass at $87 per month

Fuel savings

1,440

1,440

1,440

1,440

1,440

Carbon tax savings

28

42

56

70

84

Total savings

1,468

1,482

1,496

1,510

1,524

Less transit cost

(1,044)

(1,044)

(1,044)

(1,044)

(1,044)

Net savings

424

438

452

466

480

 

 

 

Replace inefficient vehicle: 20,000 km per year and replace vehicle with fuel efficiency of 12 L/100 with 10 L/100km efficiency

Fuel savings

480

480

480

480

480

Carbon tax Savings

9

14

19

23

28

Total savings

489

494

499

503

508

 

 

 

Weatherize windows and doors:  Weatherizing all windows and doors can reduce space heating costs by 5%.

Fuel savings

21

21

21

21

21

Carbon tax savings

2

3

4

5

6

Total savings

23

24

25

26

27

 

 

 

Install programmable thermostat:  A 5° celsius reduction for 8 hours per day reduces heating costs by 10%.

Fuel savings

43

43

43

43

43

Carbon tax savings

4

6

8

10

12

Total savings

47

49

51

53

55

 

 

 

Replace gas furnace:  Replace a 65% efficient with a 95% efficient gas furnace.

Fuel savings

127

127

127

127

127

Carbon tax savings

12

17

23

29

35

Total savings

139

144

150

156

162

Assumptions:

– Gasoline price of $1.20 per litre and natural gas at $5.50 per Gj (not including fixed monthly charges) (based on lower mainland, average price over last 5 years).

– Carbon tax was levied at the equivalent of $10 per tonne July 1, 2008, rising by $5 per tonne each year. The rate as of July 1, 2012 is $30 per tonne.

– Vehicles driven 20,000 kilometres per year.

– Heating costs before changes assumes 77Gj per year.

– Not included are savings in insurance costs due to vehicle replacement and change of use, parking and the federal income tax credit for transit.

– Drive-thru scenario assumes a daily visit