Green Investment Bank
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A recent article by the American Council for an Energy-Efficient Economy listed 10 programs that spurred organisations and customers to save energy. The findings acutely show that behavioural programs can be especially effective.
Improving energy efficiency is an important topic on the timetable of most organisations these days. The benefits are numerous, from lowering carbon footprint to the most outstanding of all cutting down on costs with energy. So million dollar question is: How to enhance business energy efficiency?
There are many ways to do so but this is not quite what I want to talk about in this column. I wont be propounding you change all the lights in your company to LED lights, even though that is one the most cost effective ways to enhance your business’ energy efficiency.
In this item I’d like to contest what is more effective consumer education or infrastructure updates. One could say that by combining both you could achieve greater results but that you will have to adjudge once you have finished reading this article.
Purchaser education has proven to be an effective way to better energy efficiency of households and businesses alike. When combined with programs that apply social science to energy conservation it can incite individuals to reduce consumption and make choices that will enable their companies to save as well.
Such programmes are an attractive way to reduce energy consumption since they have low initial cost and require little change to existing business processes / lifestyles.
However, simply relying on consumer/employee education might not be adequate. There is a real danger that energy efficiency gains seen from consumer/employee behaviour will go away over time.
That is when infrastructural upgrades come into the picture. Even though they necessitate a greater upfront investment if evaluated properly and done right such upgrades could generate better benefits. The down side is that most of these benefits will only be noticed in the long run.
But there is no better time to start upgrading your business with more energy efficient machinery. With many governments around the globe offering funds to subsidise these changes. For instance here in the UK the Government is creating the Green Investment Bank.
If you are unsure of which route to take in order to save energy. Why not ask for professional help. Hire an energy consultancy or an independent energy broker to inspect your premises and suggest the best and most effective options for you business.