Energy retrofitting – a triple bottom line proposition, says Greenscape

9 February 2010

A number of businesses have responded to an environmental sustainability model with the substitution of old out dated equipment, parts and systems for new energy efficient systems.

According to a recent report from SBI Energy, the US is considering a two-year, $23bn programme to encourage homeowners to undertake energy retrofitting projects. The report also predicts that the US home energy retrofit market is poised to grow around 15 per cent per year to $35bn by 2013, up from $20.7bn last year.

It’s not surprising that energy retrofitting is fast becoming a barrier to entry business, said Richard Mills, president of Northern Venture Group and host of aheadoftheheard.com, as many buildings use roughly 35 per cent of total global energy production.

‘Off the shelf technologies and common sense construction practices can cut building energy use by as much as 40 per cent. In the process, building retrofits save money, reduce carbon emissions, and create jobs,’ said Stockton Williams of collaborative financial organisation Living Cities.

Retrofitting can include new lighting systems, cogeneration, replacing the old diesel transportation fleet with natural gas or electric vehicles, energy efficient solutions for data storage and processing, new insulation, advanced heating technologies, Energy Star appliances, smart glass, monitoring and training. Politicians and business leaders are starting to realise energy retrofitting is a triple bottom line proposition combining job creation, environmental benefits and increased profitability, said Canada-centred energy retrofit and strategic capital firm Greenscape Capital Group.

‘If you saw $20 bills just sort of floating through the window, up into the atmosphere, you’d try and figure out how you were going to keep that. But that’s exactly what’s happening because of that lack of efficiency in our buildings,’ said Frank Blake, CEO of Home Depot.

Greenscape claims that an initial combined investment of $520bn into energy efficiency through the year 2020 in the US would yield $1.2tn and result in end use energy consumption reductions of 9.1 quadrillion BTUs.

‘Companies that want to stay ahead of the green regulatory curve, reap the many green building benefits, and remain competitive in the marketplace should implement green retrofits of their workplaces sooner rather than later. All things considered, we believe the business imperative is clear, the earlier a company adopts green building practices, the bigger the gains it stands to reap,’ said Deloitte-Lockwood in a recent study.

Buildings consume 37 per cent of the energy and 69 per cent of the electricity produced annually in the US and account for around 43 per cent of the country’s total carbon dioxide emissions, outflanking industrial sources at 25 per cent and transportation at 32 per cent, according to Pew Center on Global Climate Change figures.

‘Older buildings, more prevalent in cities than sprawl suburbs, are grossly energy inefficient. Efficiency gains of 50 per cent or more are achievable through application of measures that are cost-effective on simple terms. That represents a lot of unclaimed value,’ said Doug Foy and Joel Rogers of Efficiency Cities.

Richard Branson, who recently launched the Carbon War Room under the Virgin Unite non-profit brand with the goal to initiate climate change solutions using the power of entrepreneurs and Mayor Robertson’s Green Capital are forming a new venture in Vancouver.

Some of the world’s biggest and most progressive companies have understood that green is no longer a nice-to-have, it’s integral to doing business, said Vancouver Green Capital. Natural Resources Canada also funds an ecoENERGY Retrofit programme in the region to help industrial facilities overcome financial barriers to improving the energy efficiency of their operations.

Copyright © 2010 NewNet

Tags: energy efficient

This story was published on Tuesday, February 9th, 2010 at 4:08 pm and is filed under Features. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Energy retrofitting – a triple bottom line proposition, says Greenscape”

1. Eco2Solar says:

   10 February 2010 at 10:18 am

   The retro-fit agenda in the UK is likely to be huge too for two fundamental reasons:
   - Cuts in public spending could lead to projects for new build being shelved and organisations will look to meet targets with existing buildings
   - 70% of buildings that will exist in 2050 are already built
2. Triple Bottom Line says:

   8 May 2010 at 6:53 pm

   Energy has become one of the most significant concerns in the 21st century. The need for energy has continued to increase and it has become difficult to meet this demand. Coal is poised to be one of the most important sources of energy but it is facing the challenge of environmental impact. To ensure that coal becomes an important source of energy in the world, it is important to put in place a framework for sustainable coal mining. The government should play bigger roles in regulation of coal mining and ensure environmental impact assessment is carried out first. The government should shut down mines if they continuously ignore the law. Fines are not sufficient deterrents for coal mines to supply with safety standards and protect the people and the planet.
   For more information visit http://www.triplebottomlineapproach.com and http://www.democracyandconflict.com

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