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ECO Conservation Report

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In its 2013 report, the Ministry of Energy concluded that energy conservation results in significant energy savings. For instance, between 2006 to 2011, Ontario avoided building new capacity (CAD 4 billion) and saved about $2 in costs to the electricity system for every $1 invested in energy efficiency (Ministry of Energy, 2013, p.1-2). Moreover, there is a decline by almost 25% in the average household electricity consumption since 1990, representing about $350 savings for the average household (Ministry of Energy, 2013, p. 3). These savings result from extensive conservation initiatives such as improvements in building codes and product efficiency standards, and conservation programs delivered by LDCs and provincial agencies (Ministry of …show more content…

iii). In its report, citing information provided by the IESO, the ECO found that utility conservation programs for 2014 cost electricity ratepayers 2.9 cents per kWh saved. This is substantially lower than the 6-9 cents per kWh for refurbished nuclear, 13 cents for wind power, and 8-29 cents for gas-fired turbines (ECO Conservation Report, 2016, p. iii). For natural gas, the ECO reported that gas utility conservation programs in 2014 (CAD 66 million) cost natural gas ratepayers 2.5 cents per cubic meter of gas saved versus an average residential natural gas price of 18.3 cents per cubic meter (ECO Conservation Report, 2016, ii). 2. Growing the economy Investing in energy efficiency also generates a positive increase in the gross domestic product or GDP (Acadia Center, 2014, p.17). Based on Acadia Center’s projection, Ontario’s implementation of efficiency programs for electricity over a fifteen year period from 2012-2026 will generate a total net increase in GDP ranging from $24 billion to $71 billion. This translates into $2.65 to $1.94 of GDP for every $1 of program and participant spending over the entire study period (2012-2040), with the maximum annual increase in GDP ranging from approximately $2 billion to $7 billion (Acadia Center, 2014 p. 56). 3. Job …show more content…

The study explained that other forms of spending increase when households realize lower energy bills, including travel/tourism, dining out, renovations, among others. Moreover, the study explained that lower energy bills lead to a reduced cost of doing business in a region and improvement in the relative competitiveness of the industry, which serve as drivers for additional growth. This helps explain why “energy efficiency is such a powerful economic stimulus and effective means of generating jobs.” (Acadia, 2014, p. 27). If Ontario implements efficiency programs for electricity over a fifteen year period from 2012-2026, the study projects that Ontario will generate a total net increase in employment ranging from 200,000 to 600,000 job-years over the entire study period (2012-2040). Viewed differently, this translates into 21 to 17 job-years per million dollars of program spending, with the projected maximum annual increase in employment ranging from approximately 14,000 to 44,000 jobs (Acadia Center, 2014, p. 17 and

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Some of the measurements are examples of countries in the world such as China for example, that are working towards energy efficiency improvement. This is important to the SDG as China’s “economic growth resulted in [a huge] conflict of economic development and resource environment” (Pan, Zhang, and Zhang, 2012). Which means that it is a country that will have a huge, positive impact on the environment if it aims for an energy efficient way of life. Unfortunately, results obtained by the National Natural Science Foundation of China show that China still has a long way to go as its “six major energy consuming industries accounted for 72.4% of [its] total industrial energy consumption.” (Pan, Zhang, and Zhang, 2012)

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By 2030, Duke Energy estimates that 36% of its electricity will be generated using natural gas and 9% will be generated using hydro, wind, and solar energy. By retiring older coal units carbon dioxide emissions will be reduced by 40%. Duke Energy will also invest in renewable assets. One-way Duke Energy plans to become more energy efficient is by expanding the natural gas infrastructure to meet the needs of customers. Duke Energy is moving to a more customer-based atmosphere that will benefit families, workers, and the consumers (2016 Sustainability Report).

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The pros to the policies to improve energy efficiency are, reduction of oil imports, improve the reliability of the U.S. electric grid, save consumers money, reduction of air pollution, create more jobs, and reduce prices from manufacturing systems to transportation choices, to home appliances. (Blackmon, 2014) However, the cons are, the solutions encourage expensive quick fixes that ignore the market and technology certainties. Also congress and presidential administrations launch doubtful prospects that take no ample consideration of the costs to the environment, not to mention the actual dollar costs. (Novick, 1976) Energy isn’t free, so saving energy means saving

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Many studies have been conducted to test this statement’s validity, as the U.S. Department of Transportation studied energy conservation during daylight saving time in the 1970s, concluding that “America’s electricity usage is reduced by about one percent during each day that daylight savings time is in effect.” (Source B) This is a huge statement as it does not say one percent over the period of daylight saving, but one percent per day of daylight saving. Another more recent study by DOT (U.S. Department of Transportation) in 2005 has shown that “the total electricity savings associated with DST (daylight saving time) amounted to about 1 percent in spring and fall, corresponding to national savings of forty to fifty megawatt hours per day.” (Source C)

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And there are many examples of successful, large-scale programs that increase growth or productivity and do so in a sustainable manner. China is one of the good examples to understand what green economy would be like in developed countries. Currently china invests more than any other country in renewable energy. Its total installed wind capacity grew 64% in 2010. This growth is driven by a national policy that sees clean energy as a major market in the near future, and one in which China wants to gain a competitive

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