I have been putting a lot of thought into what it means to go green, and I’m pretty sure that, to be widely accepted, going green needs to be redefined. Let’s consider this as a branding issue. As long as going green is viewed as something in the realm of environmentalists and tree huggers, many people are not going to be interested in jumping on board. However, there are a much broader set of motivations for going green that would speak to a much wider audience, and the focus needs to shift to these motivations if green technologies are to be widely adopted. So, how can we redefine going green?
Going green means being on the cutting edge of technology. Green technology is the newest, most advanced, and most efficient technology around, whether you are talking about electric vehicles, solar panels, or energy efficient computers and smart phones. When you are talking about hi tech gadgets, on the bleeding edge of technology, some of these are going to be expensive, but this may be little deterrent to the hip early adopters who want to have the latest and greatest gadget or ride. Remember the iPhone? Perhaps the same thing is happening in electric vehicles with Tesla Roadsters being snapped up by those who have the desire and means to do so. And, like the iPhone, we expect prices to go down and availability to go up as the early adopters help to pay off the costs to develop the technology, and production is ramped up.
Going green also means making smart investments that reduce your risks, save you money, and maximize your financial return over the long haul. I would love to see more people consider their choices for going green like they would any other investment, and that is one of the primary goals of this blog. We will ask questions like: What return can I expect on this investment? And how does this investment affect my financial risk? It is true that many green technologies do require some up front investment, and for some, like solar panels, this can be a lot of money (unless you get a solar lease or power purchase agreement). However, these investments can also pay large dividends over time, such as reducing or eliminating costs for electricity and fuel. On top of that, this sort of green investing actually reduces your financial risks, because you are less exposed to the volatile and uncertain prices of gasoline, natural gas, and electricity.
Of course, whether any particular green technology makes a smart investment will depend on this analysis of risk and return on investment. In many cases, this will depend on particulars of your own situation, like the amount of sun that you get on your roof or how much you drive your car. If investing in a solar panel, electric car, or energy monitor can provide a decent return on investment, and reduce the risk that you are already exposed to in the form of volatile energy prices, perhaps it will look more attractive than throwing that money into other safe investments like a bond fund or money market account.
So, welcome to the new green! Whether you are an early adopter looking for the latest cool gadgets, or a savvy investor looking for the best balance between risk and return on your investment, you’ve come to the right place. Let’s start going green for fun and profit!