Energy efficiency can be an excellent way to reduce waste, save money and help the environment. There are various approaches available to improve energy efficiency; some more affordable than others may even exist.
Economic benefits can include reduced utility bills and more disposable income for households, helping stabilize electricity prices and reducing volatility; as well as supporting renewable energy development by decreasing demand.
Reduced Utility Bills
Energy efficiency measures help lower utility bills for households and businesses by decreasing power usage. This saves money on electricity costs and boosts disposable income for families while simultaneously increasing profits for businesses and reducing operating expenses for schools, hospitals, and other public buildings.
Installing a ductless air conditioning heat pump, for example, can slash energy consumption in half compared to traditional air conditioners while still producing cooling output at the same level. Furthermore, smart thermostats and advanced power strips help homeowners and businesses cut consumption by remotely managing devices that consume electricity when not being used – such as televisions and computers.
Many utilities provide financial incentives or regulations to incentivize consumers to adopt energy efficiency and conservation (EE/EC) strategies, such as encouraging them to switch their electricity use off-peak at times when demand is highest, which helps decrease demand and enhance grid reliability.
Increased Profits
Energy efficiency allows businesses to lower operating costs, thereby increasing profits and remaining competitive in their market. Furthermore, many customers will gladly pay more for products or services that support sustainable practices and help protect the environment.
Energy-efficient buildings provide more comfortable working conditions for employees, which in turn increases productivity. Furthermore, companies who can demonstrate their commitment to sustainability often enjoy increased brand recognition and brand loyalty among customers.
Energy efficiency increases disposable income for consumers by decreasing utility bills, while helping lower operating and maintenance costs for businesses and government agencies such as schools and hospitals. On a per unit basis, energy efficiency costs less than new power generation. Furthermore, it reduces national reliance on imported energy resources which in turn reduces geopolitical risks while simultaneously strengthening energy security.
Reduced Environmental Impact
By choosing energy efficient products and services, consumers reduce their reliance on fossil fuels – the primary source of greenhouse gases responsible for climate change. Even taking small actions such as switching to energy-saving light bulbs or installing low flow water systems can have a dramatic impact on the environment.
Energy efficiency reduces the need to build new power plants, which rely on burning coal, natural gas or other fossil fuels that emit greenhouse gases when burned to generate electricity. By employing energy-saving measures and programs that boost efficiency instead, programs can significantly decrease emissions by decreasing the number of power plants needed to meet energy demands and emissions by their combustion.
Local governments can bolster energy efficiency efforts through partnerships with electric and gas utilities and regional energy efficiency alliances, which work to provide cost-effective energy solutions to residents and businesses, including in disadvantaged communities. Energy efficiency programs may reduce energy bills while increasing household disposable income and business revenues while simultaneously decreasing operating costs at schools, libraries and other public buildings.
Better Health
Health care facilities can use energy efficiency measures to save on utility costs and decrease carbon emissions, as well as use renewable energy sources like solar or wind power to become healthier environments for patients while supporting communities by limiting exposure to dangerous emissions.
Energy efficiency also provides solutions to social determinants of health, such as energy burden – the percentage of household income spent on utility bills. According to ACEEE research, low-income, black, and Hispanic households pay over twice their income on utilities compared with other families; energy efficient practices may lower this burden thus decreasing healthcare costs among residents in those groups.
Step one in creating an energy efficiency program is identifying and screening potential savings strategies. A phased approach should be taken, since some strategies may work better depending on the building or equipment being targeted. Practice Greenhealth offers resources and tools that can assist this process such as energy tracking and management services that will enable your health care organization to identify appropriate savings measures.