Energy Efficiency Financing Makes a Comeback
Four factors are converging to drive a comeback for financing of energy efficiency projects, according to Schneider Electric’s chief marketing officer Chris Hummel in a recent article in The Guardian.
- As public awareness increases about the direct impact that energy costs have on things like airline and produce prices, businesses are paying more attention to the cost to power their facilities and how that cost affects their bottom lines. As a result, energy costs have become a front-of-mind concern for a growing number of industries. The International Energy Agency estimates that $8 trillion will be spent worldwide on energy efficiency between now and 2035.
- Technology advances are making it easier and less expensive for businesses to implement energy efficiency measures. The cost of solar panels, for example, has dropped from more than $75 per watt to $0.50 per watt, and technologies like smart thermostats have made it easier for businesses to manage their power consumption.
- Business models that fund energy efficiency through savings have not only made implementing energy-efficiency projects more appealing, it has opened access to such program for businesses that would otherwise not be able to afford energy-efficiency upgrades.
- A growing number of green jobs—and competition for those jobs—is a good indication that energy efficiency and sustainability are officially out of the “early adopter” stage. As energy-efficiency becomes a mainstream concern, commercial and residential contractors, lighting specialists and electricians are increasingly shifting their businesses to accommodate demand for efficiency, Hummel says. A new generation of professionals with advanced knowledge about energy and energy technology will drive energy efficiency programs and sustainability to the next level.
Photo via Shutterstock.
- Six Essential Steps to Drive Effective Energy Management
- How to Use Lean Tools to Cash In On Environmental and Energy Savings
- 2014 Insider Knowledge Report
- Trends in Energy Management: Where Should Your Next Investment Be?
- Sustainability Reporting for Commercial Real Estate: GRESB
- Integrating sustainability into your ERM framework
- Essential Guide to Lighting Retrofits and Upgrades
- 2013-20114 Winter Polar Vortex
- 2014 Environmental Leader Product and Project Awards
- BuildingIQ Security
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement