Save (Light + Heat + Fuel) = Save Money + Save Carbon

Posted on 06. Oct, 2009 by Ross in Energy News

Wondered why governments spend more time convincing businesses and households to act on climate change than they do saving carbon themselves?

Because national opportunities to save energy cost money, whilst individual opportunities to save energy also save money.

McKinsey and The Vattenfall Institute of Economic Research have developed a ‘global carbon abatement cost curve’ which compares the cost and effectiveness of all the primary carbon saving opportunities. The technologies increase in cost per tonne reduced from left to right, whilst the thickness of the bars indicates the amount of carbon which each technology could save.

Saving Carbon And Money

Saving energy through new power sources such as renewable energy and nuclear power, as well as saving carbon from fossil fuel power stations using carbon capture technology, all cost money. Reforestation and the prevention of further deforestation also cost substantial sums of money for each tonne of saved carbon.

By contrast, there are a whole raft of changes which businesses and households can make which save money as well as saving energy and carbon. Insulation is the most cost-effective energy-saving solution, with more fuel-efficient commercial vehicles the next most potent money-saving carbon reduction solution. Energy-saving lighting systems come next, with opportunities to save energy through efficient lighting present everywhere from households to commercial and retail outlets, and from industrial factories to public buildings and leisure centres. More efficient air-conditioning and water-heating systems bring up the rear of money-saving carbon reduction projects, along with more fuel-efficient cars.

Businesses gain from saving energy by simultaneously saving money and carbon emissions. Governments gain from having a leaner, more competitive economy as well as saving on the need to generate as much electricity through new expensive power plants. Households gain by saving money on energy bills and lessening the need for a shiny new nuclear power station just across the road, as well as making the possibility of being energy-independent more attainable by using solar cells or a wind turbine.