Making buildings 30 percent more energy efficient would save $34 billion per year

Sponsored by

Energy efficiency is a good business decision for businesses, homeowners and the government, said John Mandyck, chief sustainability officer, UTC Climate, Controls & Security. UTC Climate, Controls & Security is a unit of United Technologies Corp.

United Technologies Corp., in collaboration with the Rhodium Group, analyzed the impact of a 30 percent improvement in U.S. building energy efficiency by 2030 in a new report, Unlocking American Efficiency: The Economic and Commercial Power of Investing in Energy Efficient Buildings.

According to the findings, improving energy efficiency in buildings by 30 percent would create a $275 billion market for advanced technology, engineering and design services, and construction activity in the U.S. alone — that's larger than the total U.S. advertising market.

The energy savings would generate $34 billion per year for American businesses, net of investment expenses, that could either be passed on to consumers or used to hire more employees or invest in R&D or expanded production. Households would save an additional $23 billion per year that they could use to save for the future, invest in education, or spend on consumer goods or personal services.

Federal, state and local governments in budget-constrained times would save more than $8 billion annually, equivalent to funding the National Science Foundation or nearly all of the annual budget for the U.S. Environmental Protection Agency (EPA).

In the residential sector, the report determined that achieving a 30 percent efficiency improvement in existing residential buildings would require investing $115 billion in energy efficient technology and design. This investment would more than pay for itself in energy cost savings, additionally generating an estimated improvement in average household cash flow of $163 a year, equal to the average annual household spend on fresh vegetables.

Sponsored by

CURRENT ARTICLES

Appalachian Power requests energy efficiency programs for Virginia

10/24/2014

Appalachian expects the six programs to save about 43,000 MWh in energy usage

Electric distribution investment up from past decades

10/24/2014 Electricity distribution systems differ from transmission systems, which have also experienced increased investment over t...

Toledo Edison builds transmission line to serve Home Depot warehouse

10/24/2014

The new 1.65-million square foot facility will be used primarily for online order fulfillment 

Rwanda to switch on peat-fired power plant

10/24/2014

The $36 million project will produce cheaper electricity compared to hydro or thermal power 

Has privatization failed Texas utility customers?

10/24/2014 Relative electricity prices have increased dramatically, and dangerously lower electrical system reliability is the result...

ETT proposes Del Sol to JackieHoward transmission line in South Texas

10/23/2014 Electric Transmission Texas is planning to construct a new $24.5 million, 345-kV transmission line to connect the 200 MW L...

Gamesa delivers 74 MW wind farm to Grupo Mexico

10/23/2014 Gamesa currently has 1 GW of installed wind capacity in Mexico, with another 70 MW in the pipeline at the Dos Arbolitos pr...

ON DEMAND WEBCASTS

Architecting Communication Networks for Smart Grids

This webinar will provide the essentials of communication networking to meet the challenges of th...

The Power of Behavioral Design: Lessons for Energy Efficiency Providers

Behavioral design principles are key differentiators when it comes to influencing consumer behavi...

3D BIM for Substations—Driving Efficiency from Design Through Operation and Maintenance

In this webinar, PESTECH will describe their transition to intelligent substation design and its ...

High Availability Networks. Application of IEC6439-3 Protocols for IEC61850 Process Bus implementation

Networks can now be built for the first time with genuinely uninterrupted data communication betw...

Understanding Moisture Dynamics in Power Transformers

While the need to measure moisture in power transformers has been well documented and is universa...

EL&P BUYER'S GUIDE PRODUCTS

MITEM Corp

Provides CRM solutions for regulated U.S. public utilities. The product, MitemView integrates differently designed systems to share critical data a...

Resources on Demand

Manages resource requests, tracks personnel movements, and supports lodging/logistics during a power restoration event.

Smart Grids

Quanta is contributing to its customers' smart grid initiatives by installing technology on power networks to provide energy management solutions f...

Horizontal Directional Drilling

With 28 small, mid-sized and large drilling rigs, Quanta Pipeline Services is one of the largest horizontal directional contractors in the world fo...

FEATURED ENERGY JOBS

View more Job Listings >>

POWERGRID International

June 2014
Volume 19, Issue 6
1406pg-cover

ELECTRIC LIGHT & POWER

June 2014
Volume 92, Issue 3
1405ELPcvr