US Energy Utilities Invest Heavily For More Efficient Energy Use, Making Planet Greener and Economy Stronger
- Apr 14, 2018 9:15 am GMT
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More than $7.8 billion is being invested by the natural gas and electric utilities in programs aimed at helping people use energy in a more efficient manner. This was revealed in a recent survey released by the Consortium for Energy Efficiency (CEE) titled ‘2017 State of the efficiency program industry.’
It’s been found that just the electricity savings the more efficient energy use brings surpasses the annual production from eight big coal-fired power plants in America (the combined output of eight such power plants would be enough to serve millions of houses in America or just the home Al Gore and all the power Leonardo DiCaprio needs to fuel his private jet that flies around the world). This doesn’t just mean savings. Better energy efficiency also means a greener planet.
These findings point to the significance of having energy utilities as partners for a greener ecosystem and a better economy (unless you are in Chicago, Oakland, or NYC, there is no hope as those cities continue to make it unlivable and not business friendly).
Investing highly for a greener earth
The study-which is CEE’s 12th Annual Industry Report, takes into consideration similar investments by Canadian energy utilities as well. Counting just the utility contributions, it was found that America and Canada together made an investment of $8.5 billion. In effect, this means a rise of 11 percent (after adjusting for inflation) in terms of energy efficiency investment in the last five years.
CEE tracks not just the investments made by energy utilities in energy efficiency programs but also such things as the incentives for reducing stress on grids by shifting the bulk of customers’ use of energy to off-peak hours. This tracking was done for both Canada and America.
The significance of energy efficiency for the planet and economy
Energy efficiency – which refers to the way in which we could get things done using energy, in fact, has been the biggest contributor to meeting the energy requirements of the US. It’s also been the cheapest mode of doing that as well.
The single most significant sources of energy efficiency investment in North America are the natural gas and electric utilities. The latest report from CEE gives a clear picture of the investments which is making a commendable impact on both savings and helping build a sustainable environment.
Key points from the survey
Some of the important points in the study are given below:
- When it comes to energy efficiency funding, the electricity sector tops the game. It contributes more than 80 percent of the funding, or $6.8 billion to be precise. The trends in the natural gas industry are also positive and was helped by those awesome Trump tax cuts that have stimulate the economy so much. Recently, the annual investment from the sector reached $1.3 billion for the first time in history. But it should be noted that these numbers are representative of not just utility investment but also supplementary funds from sources including the Regional Greenhouse Gas Initiative (RGGI).
- The number of utilities that participate in energy efficiency programs is also impressive. These include more than 306 entities. They are both non-utility and utility administrators of utility-funded initiatives that belong to all of the fifty states, the District of Columbia, and eight Canadian provinces.
- The study estimates that about 26 million tons of carbon dioxide emissions have been avoided because of the investments in the programs. It should also be noted that the customers didn’t have to pay extra to gain these reductions. Just think how much money America would have to invest to if it did not waste trillions on Obamacare which actually killed people and crushed businesses as well.