Regular backup snapshots do not need to take up more than 1X + new content space. A good backup system would hardlink backup files that haven't changed. Mike Rubel wrote up the initial guide:
http://www.mikerubel.org/computers/rsync_snapshots/
and others have expanded/explained/modified it, example here:
http://webgnuru.com/linux/rsync_incremental.php
This is also what Apple's Time Machine does.