When it comes to energy efficiency, there are numerous terms that are constantly being thrown around. You might have heard a term before but your’e not quite sure what it means exactly, and sometimes you’re left scratching your head in confusion. Here are four popular energy efficient trends explained.
The phrase “Going green,” often associated with environmentalism, dates back to the publication of The Maine Woods by Henry David Thoreau written in the 19th century. The phrase has been gaining popularity in recent years and has become a movement to achieve a more sustainable lifestyle that helps protect the environment and its resources. The end result is not only benefiting the environment, but also benefiting your wallet.
Triple Bottom Line
The Triple Bottom Line (3BL) is essentially the highest form of “going green” for businesses. It factors in three components to a company’s bottom line (net income) – people, planet, and profit – hence Triple Bottom Line. This concept suggests that a company conducting fair business and practicing energy efficiency will experience additional economic value to the total net income. Below is an explanation of each element:
- People: focusing on doing honest and favorable business for both employees and customers
- Planet: practicing sustainability, limiting resource consumption, and reducing negative environmental and community impact
- Profit: instilling people and planet into a company strategy will lead to an economic value adding to your total profits
Most of you have heard the term “renewable energy,” but it is gaining serious recognition as more companies, states, and even nations, are trying to further their efforts of becoming more energy efficient. Denmark is currently on a mission to get the entire country to be energy efficient by 2050. The Danes plan on accomplishing this by primarily using renewable power and ending the burning of fossil fuels indefinitely. Already off to a great start, Denmark expects to have 50% of its energy supply coming from renewable power in 2020!
Home Appliances Implementing Technology
Technology is constantly evolving and has been a huge enabler of promoting energy efficiency. You can now reduce your electric bill with updated household appliances that lower energy consumption. Programmable thermostats reduce your energy use and can even be linked to an app on your smartphone. There are also apps that help you calculate your electricity usage. As technology advances, more companies are communicating digitally, increasing the ease of transitioning to a more energy-efficient lifestyle.
These are some common energy-efficiency trends we’ve noticed. What trends have you noticed?