Energy efficiency is one of the easiest and cost-effective strategies for eliminating energy waste and cutting electric costs, while helping combat climate change, protecting the environment, and increasing profitability.
Consumer electronics continue to consume electricity even when turned off, but smart power strips can help control this energy use.
Save Money
Energy efficiency is an affordable and low-impact way to reduce greenhouse gas emissions and water usage, increase household disposable income, reduce electricity and natural gas bills and save on other fuel expenses, boost productivity in businesses and help save on operating expenses.
From replacing light bulbs to installing smart devices, making energy-saving upgrades doesn’t take much work or cost – and will pay for themselves with lower utility bills and less need for maintenance or repairs.
Homeowners who invest in energy-efficient upgrades are taking an important step toward meeting future regulations and saving themselves on compliance costs. When it comes time to sell their home, energy efficient homes tend to command higher selling prices over non-energy efficient options; one study revealed that those featuring green features sold for an average 15% premium over non-green properties. Furthermore, energy efficient appliances and equipment typically last longer reducing replacement and repair expenses significantly.
Protect the Environment
Energy efficiency upgrades often involve upgrading heating and cooling systems, replacing incandescent bulbs with LED lights, or installing insulation – upgrades which not only save consumers money but also protect the environment.
Energy efficiency plays a vital role in climate change mitigation strategies aimed at keeping global warming below 1.5degC, from traditional power plants, lowering their GHG emissions, improving outdoor air quality, lowering ecological footprint and decreasing ecological impact of buildings and communities. Energy efficiency plays a significant part of most mitigation plans that aim at keeping global warming below 1.5degC.
Implementing energy efficiency measures can result in reduced demand on the electric grid, lower natural gas prices and volatility, more reliable electricity supply and carbon emissions reductions. Energy-efficient technologies and practices may even be better suited to run on renewable energy sources reducing pollution while creating sustainable futures. In regulated markets, state policymakers may set resource standards requiring utilities to offer programs and achieve specific levels of savings.
Increase the Value of Your Property
Energy efficient measures can add real value to both building owners and occupants alike. Property owners can recoup their initial investment through reduced utility bill costs and greater resale value; while occupants will reap the rewards through lower operating expenses.
Additionally, energy efficiency measures help reduce emissions of harmful pollutants that harm air quality and the environment, thus improving both outdoor and indoor air quality as well as protecting it. Furthermore, efficient technologies cut back on fossil fuel consumption which in turn lessens resource depletion and climate change impacts.
Energy efficiency has quickly become a hallmark of home and apartment purchases, with buyers willing to pay more for properties independently certified as energy efficient. Certifications like LEED and ENERGY STAR play an invaluable role in increasing marketability for commercial buildings.
Increase the Value of Your Employees
Companies that take energy efficiency seriously are likely to attract and retain top employees, particularly millennials who place great importance on a company’s social and environmental impact.
Energy efficient buildings cost less to heat and cool, thus lowering utility bills for everyone in the office. Manufacturing plants that employ energy-saving technologies can produce products at reduced costs than their competitors. Furthermore, businesses who implement energy efficiency strategies also generate jobs; $1 million invested in such projects typically creates 17 jobs across the economy.
However, energy efficiency projects often take longer than conventional investments. To keep employees engaged with these efforts and reward their contributions toward meeting your company’s energy efficiency goals. Educate employees on why changes must occur within their daily habits as part of this initiative and reward those that contribute.