Energy efficiency is the best way to keep costs in check and prevent costly utility rate spikes, providing both immediate and long-term savings.
Saving energy helps reduce our dependence on fossil fuels and decrease greenhouse gas emissions, as well as alleviate pressure on our electric grid and avoid outages.
Lower Utility Bills
Energy costs can be a substantial part of household budgets, particularly for those living in homes that consume a great deal of electricity. By making simple but cost-effective upgrades that improve energy efficiency, households could see their electric bills decrease significantly each year – potentially saving hundreds of dollars!
Energy-efficiency improvements help lower demand for electricity, thus decreasing emissions associated with climate change and purifying air throughout New England. Energy-saving upgrades benefit everyone in New England.
Energy efficiency programs can also assist customers in lowering energy bills by decreasing consumption during peak usage times, typically through financial incentives and energy efficient appliances or equipment as well as home or business energy management systems that offer time-based rate pricing such as ConEdison’s time of use program. Such demand-side management (DSM) programs reduce sales, peak demand and associated transmission and distribution system congestion as well as price volatility on wholesale markets and increase customer affordability.
Increased Productivity
Energy efficiency provides businesses with multiple economic advantages, but perhaps its most obvious financial benefit lies in its ability to reduce energy costs and thereby freeing up funds that they can then reinvest back into their operations for greater profit margins.
Energy efficiency also boosts productivity. According to studies, employees working for businesses that prioritize energy efficiency tend to be more productive on average than their counterparts who don’t take this aspect into consideration.
Along with increased productivity, companies that invest in energy efficiency can also reduce carbon dioxide emissions – helping mitigate climate change while conserving natural resources.
Energy efficiency can also serve as an effective risk management strategy by diversifying energy resource portfolios, helping to stabilize costs and lessen exposure to volatile commodity prices. Over the last 20 years alone, global economic energy intensity has declined by more than two percentage points annually thanks to efficiency gains.
Reduced Greenhouse Gas Emissions
Energy efficiency reduces greenhouse gas (GHG) emissions by cutting fossil fuel consumption and expanding renewable energy use, making it the most cost-effective method to mitigate GHG emissions worldwide.
Energy efficiency investments can help families with higher energy burdens — those paying a larger percentage of their income for energy than average — find more affordable rates, potentially improving family health and comfort since inefficiency can contribute to respiratory ailments and indoor pollution.
Energy efficiency strategies can make your company more attractive to both consumers and employees alike. A recent study revealed that three-fourths of Millennials are willing to accept lower salaries if working for socially responsible companies; as such, numerous businesses such as Google, Microsoft and Sainsbury’s have increased their efforts in this area.
Increased Shareholder Value
Energy efficiency investments pay dividends in many ways for companies and commercial buildings alike. Not only will energy-saving measures reduce operating expenses and raise asset values, they also demonstrate a company’s willingness to adopt cutting-edge technologies and its dedication to running its business efficiently – traits which may attract private investments as well as increase market share by showing customers they care about the company’s financial standing, sustainability practices and environmental stewardship.
Energy efficiency can also make your company more attractive to potential employees, especially among millennials who place great value in corporate culture and social responsibility; many are even willing to accept lower salaries to work at responsible organizations.