By Andy Cheng
Like that hybrid car so many have considered purchasing, energy-efficiency is ultimately a lucrative investment. As it turns out, the money saved by eliminating inefficient, energy-devouring products such as an obsolete light bulb or an old radiator eventually develops into money saved for business expansion and job creation. Who says those $500 solar panels aren’t saving us any money?
According to a 2010 study published by the American Council for an Energy-Efficient Economy (ACEEE), jobs at a national scale can be created “by the energy saved when less efficient appliances are replaced with more efficient appliances, providing energy and dollar savings for consumers.” With efforts such as businesses turning off lights at night and updating appliances to meet newer standards, the energy saved equates to a net job growth. In fact, the study claims that 340,000 jobs were created in 2010 as a result of the energy-efficient movement that has swept the nation, and that 387,000 jobs can be created in 2020 with the same factors in place.
Colorado is not exempt from this cash-saving potential. ACEEE found that Colorado saved $445 million in energy-saving efforts and led to the creation of 5,000 jobs in 2010. The organization projects that in 2020, with existing and future standards (pending legislation, etc), Colorado can save $823 million and create 5,800 jobs. Even further, projections for 2030 claim that $827 million will be saved, and another 5,800 jobs will be created due to lowering energy costs.
The report comes to no surprise to Colorado state officials, however. In recent years, the state government has invested in energy-efficiency in the form of grants—mandated by the federal government’s American Recovery and Reinvestment Act—including $1.6 billion for programs that sponsor and promote energy-efficiency, and $1.2 billion for education such as teaching energy-efficiency. In other words, the women and men at the state capital understand that saving energy is a job-creator and have begun to invest in it.
They say that investing in energy is investing in our future, and according to the air conditioner or heater you’ve got cranked up, it’s not exactly breaking news. On a small scale, turning off computers and lights at night could save a household some extra cash, but on a state or national level, updating electrical appliances and making efforts to reduce electrical consumption could have tremendous positive fiscal impacts.
And no, you don’t need an air conditioner to survive.
