The impact of trees in urban or suburban areas are often viewed in abstract ways, in terms of shading certain areas of land or just providing properties with physical characteristics and curb appeal.
Not only are trees admired for their beauty and being a direct connection to the land, but they also provide long-term monetary benefits that can be forgotten. The financial benefits, of course, will benefit your pocket.
In 1992 the American Forestry Association published a book titled “Growing Greener Cities” which in part attempted to correlate a monetary value of a green economy with the benefits attained by home or property owners.
The book was published about three decades ago but the benefits of trees were apparent, stating that that a single tree provides $50 worth of air pollution reduction, $73 worth of air conditioning, $75 worth of erosion control and $75 worth of wildlife shelter. If you compounded the total of these numbers alone, at a cost savings of $273 for a period of 50 years at 5% interest, that is an estimated savings of $57,151.
Studies based on area and population have continued in the many years since. For example, a Pacific Northwest research station sponsored by the U.S. Forestry Service studied monetary impacts in Modesto, California. The study found that for each dollar invested in urban forest management, approximately $1.89 in benefits were returned to residents. Meanwhile, the city’s trees eliminated 154 tons of air pollutants, increased property values by over $1.5 million, and provided enough shade to save more than $1 million in energy costs.
The positive findings actually encouraged Modesto city officials to increase their tree budget, leading to a $20,000 investment from an electric utility company.
Not understanding or realizing such benefits can not only be detrimental environmentally but financially. According to a 2018 U.S. Department of Agriculture study, about 175,000 acres of the 130 million acres (52.6 million hectares) of urban forests nationwide die or get cut down every year—an approximate $96 million annual hit.
So, next time you look in your yard and see the beauty and magnificence of trees, remind yourself how important it can be for your wallet to take care of them in fruitful ways to extend lifespan. Camelot Tree and Shrub Co. has the experts who can speak to such benefits, and we will take care of your trees so your property shines and you can count the savings year after year.