Green Investing

It's as if old hippies died and went to heaven; terms like "off-the-grid power" and "wind technology" are now as popular as Internet startup was a few years ago. I personally have put my money into Evergreen Solar and Composite Technology Corporation, but there is a wealth of companies vetted by finance publications, and many are saying that buying green could put you ahead of the game financially as green companies come into their own.

From Kiplinger: 25 Stocks to Invest in a Cleaner World

We've sifted through the implications and put together the Kiplinger Green 25, a list of companies we believe will get a big boost from the growing focus on climate change and the move toward alternative fuels. Our picks vary widely in size, and four are based overseas. Some of the stocks may be expensive, and shares of some of the smaller companies may be volatile. But we think all will do well over the long term. In addition, check out our separate profiles of five up-and-comers -- small (with market values of less than $1 billion), more-speculative companies that someday could grow into green giants.

CleanTech Blog talks about Solar Power 2007, a conference about green solar technologies, and what companies are hot right now:

In 2006, PV grew over 40% to $20 billion in revenue and over 2,500 MW of new solar power. The European Photovoltaic Industry Association (EPIA), forecasts a €300 billion industry by 2030 which will meet 9.4 per cent of the world's electricity demand. By 2030, solar is forecasted to be the least expensive source of energy in many sunny regions of the world.

Get Rich Slowly says, "Want to Save the Environment? Buy Less Stuff!"

Every time I buy something, it has an impact on the world around me. When I buy a new kitchen appliance, for example, there’s an environmental cost for the manufacturing process, for the packaging, for the transportation, and for the marketing. By reducing my role as a consumer, couldn’t I help myself and help the environment? Here are five strategies that I’ve developed to help me accomplish both goals at once...

Millionaire Mommy tells us to ignore advertisers and their siren song:

Advertising media leads us to believe that in order to be beautiful, hip and happy, we need to buy their product. What they don't tell us is that when we do, we often pollute our earth, poison our body and empty our bank account.

Last but not least, here's a few energy saving ideas of our own:

As mentioned before, we switched our commuter vehicle from a small, compact car to a 163 cc scooter. This will save us almost $200 a month in gas, insurance and parking fees as well as 1,347 pounds of carbon dioxide a year. I also plan to take my son to school on a bicycle twice a week; that saves us another 425 pounds of carbon dioxide. That's a total of 1,772 pounds saved a year. (Want to calculate how much you pollute? Go to the EPA website here).

We started shopping at a local farmer's market and I found someone who sells eggs in Tucson. Her chickens get the run of her yard, and I get cage-free eggs for $1.50/dozen. That's a savings of $1.25 per dozen versus buying the ones in the store. Next spring we'll look into buying a share of our local CSA, otherwise known as community supported agriculture, to further reduce our impact and save money on groceries. Check out Animal, Vegetable, Miracle to find more resources for buying locally.

Because we're in Tucson, we planted low-water use, native plants in our yard five years ago when we first moved. This year I turned off the watering system and everyone lived, so we look forward to saving about 1200-1500 gallons of water a month (and between $10-15/month) by having a desert landscape.

Our goals for next year include purchasing window quilts or similar to help insulate our house, purchasing an energy efficient range and dishwasher, and looking into solar panels via the Tucson Electric Power GreenWatts Program.

Got any ideas about how to reduce your footprint AND save money? Leave a comment!