Analysts forecast yearly investments in energy of nearly $400 billion by 2020 – nearly double the $195 billion invested last year. Alex Blackburne looks into the report.
Between 2005 and 2010, annual investment in energy increased four-fold, from $50 billion six years ago, to just under the $200 billion mark last year. This figure is set to continue to soar, according to Bloomberg New Energy Finance (BNEF), independent analysers.
BNEF’s report, Global Renewable Energy Market Outlook, predicts that $395 billion will be invested in the energy sector in 2020, with over $450 billion ten years later in 2030.
The figures mean that by 2030, the world’s total energy production from renewable sources will be 15.7% – up over 3% from the 12.6% recorded last year.
BNEF’s findings would require some $7 trillion of new global capital from 2011 to 2030. Whilst in percentage terms, the fastest growers in renewable energy investment worldwide is expected to be India, the Middle East, Africa and Latin America, which have projected growth rates of 10-18% per year between 2010 and 2020.
The International Energy Agency (IEA) published a similar but more broad report to BNEF’s, named World Energy Outlook earlier this month, which came out with less positive figures on renewable energy usage in the future.
“Our figures are more optimistic than those of the IEA on the increase in renewable power generation”, said Angus McCrone, chief editor at BNEF.
“However, both we and the IEA expect total world electricity production to rise to 33-34,000 terawatt hours by 2030 [an increase of nearly 90% from what it is now], and for fossil fuel power output to rise within that total, so the prospects for curbing emissions still look bleak.”
Although on the face of it, BNEF’s predictions are positive, with renewable energy consumption set to soar, the amount of carbon emissions is set to mirror the rise.
The most effective way to cull this projected increase is to choose sustainable investment in ethical companies.
Whilst consumption of renewable energy is expected to make up 15.7% of the world’s total energy production by 2030, this isn’t anywhere near good enough. With these figures, we’ll still feel the full effects of climate change.
To view BNEF’s report in full, click here.
If everyone transferred their funds to ethical companies, then there is a genuinely real chance that this world will continue to live. If you would like to find out more about investing in renewable energy, ask your financial adviser, if you have one, or complete our online form and we’ll connect you with a specialist ethical adviser.
How Home Automation Can Help You Go Green
The holidays are an exciting, nostalgic time: the crispness in the air, the crunch of snow under your boot, the display of ornate holiday lighting up your home like a beacon to outer space, and the sound of Santa’s bell at your local Walmart.
Oh, yeah—and your enormous electric bill.
Extra lights and heating can make for some unexpected budgeting problems, and they also cause your home to emit higher levels of CO2 and other pollutants.
So, it’s not just your wallet that’s hurting—the planet is hurting as well.
You can take the usual steps to save energy and be more eco-conscious as you go about your normal winter routine (e.g., keeping cooler temperatures in the home, keeping lights off in naturally lit rooms, etc.), but these methods can often be exhausting and ultimately ineffective.
So what can you actually do to create a greener home?
Turn to tech.
Technology is making waves in conservation efforts. AI and home automation have grown in popularity over the last couple of years, not only because of their cost saving benefits but also because of their ability to improve a home’s overall energy efficiency.
Use the following guide to identify your home’s inefficiencies and find a solution to your energy woes.
Monitor Your Energy Usage
Many people don’t understand how their homes use energy, so they struggle with conservation. Start by looking at your monthly utility bills. They can show you how much energy your home typically uses and what systems cost you the most.
The usual culprits for high costs and energy waste tend to be the water heater and heating and cooling system. Other factors could also impact your home’s efficiency. Your home’s insulation, for example, could be a huge source of wasted heating and cooling—especially if the insulation hasn’t been inspected or replaced in years. You should also check your windows and doors for proper weatherproofing every year.
However, waiting for your monthly bill or checking out your home’s construction issues are time-consuming steps, and they don’t help you immediately understand and tackle the problem. Instead, opt for an easier solution. Some homeowners, for example, use a smart energy monitor such as Sense to track energy use in real time and identify energy hogs.
Use Smart Plugs
Computers, televisions, and lights still consume energy if they’re left on and unused. Computers offer easy cost savings with their built-in timers that allow the devices to use less energy—they typically turn off after a set number of minutes. Televisions sometimes provide the same benefit, although you may have to fiddle with the settings to activate this feature.
A better option—and one that thwarts both the television and the lights—is purchasing smart plugs. The average US home uses more than 900 kilowatts of electricity per month. That can really add up, especially when you realize that people are wasting more than $19 billion every year on household appliances that are always plugged in. Smart plugs like WeMo can help eliminate wasted electricity by letting you control plugged-in items from your smartphone.
Update Your Lighting
Incandescent lightbulbs can consume and waste a lot of energy—35% of CO2 emissions are generated from electric power plants. This can have serious consequences for increased global warming.
To reduce your impact on the environment, you can install more efficient lightbulbs to offset your energy usage. However, many homeowners choose smart lights, like the Philips Hue bulbs, to save money and make their homes more energy efficient.
Smart lights can be controlled from your smartphone, and many smart light options come with monthly energy reporting so you can continue to find ways to reduce your carbon footprint.
Take Control of the Thermostat
Homeowners often leave the thermostat on its default settings, but defaults often result in heating and cooling systems that run longer and harder than they need to.
In fact, almost half the average residential energy use comes from energy-demanding heating and cooling systems. As an alternative to fiddling with outdated systems, eco-conscious homeowners use smart thermostats to save at least 10% on heating and roughly 15% on cooling per year.
Change your home’s story by employing a smart thermostat such as the Nest, ecobee3, or Honeywell Lyric. Smart thermostats automatically adjust your in-home temperature by accounting for a variety of factors, including outdoor humidity and precipitation. A lot of smart thermostats will also adjust your home’s temperature depending on the time of day and whether you’re home.
Stop Wasting Water
The average American household uses about 320 gallons of water per day. About one-third of that goes to maintaining their yards. Using a smart irrigation systems to improve your water usage can save your home up to 8,800 gallons of water per year.
Smart irrigation systems use AI to sync with local weather predictions, which can be really helpful if you have a garden or fruit trees that you use your irrigation system for water. Smart features help keep your garden and landscaping healthy by making sure you never overwater your plants or deprive them of adequate moisture.
If you’re looking to make your home greener, AI-enabled products could make the transition much easier. Has a favorite tool you use that wasn’t mentioned here? Share in the comments below.
5 Software Applications Green Businesses Need to Streamline Management
Green businesses face even more challenges than their traditional counterparts. Every green business faces logistical obstacles, due to increasingly cumbersome regulations, growing data needs and resource limitations. Major advances in HR IT solutions offer the solutions these companies need. In addition to simplifying their business processes, these solutions reduce their carbon footprint by minimizing paper needs.
For a large business to run smoothly, there are several types of software it needs. From enterprise resource planning (ERP) to human resources (HR) software, the programs needed to run a large business are as important as the employees you hire. Learn more about the type of software available, what it does and why you need it, so you can choose the options that are right for your business.
ERP software is the most important software in your arsenal, so it’s important to choose your product wisely. ERP software handles everything from production planning and quality management to financials. This is the software that shares information between your manufacturing process and business systems. Software such as ERP 4.0 gives you all the real-time insights needed for your strategic planning process, and works with your other systems to ensure the information you receive is current and accurate at all times.
HR software helps your HR department with hiring, managing, disciplining and firing employees. It holds all of your company’s policies and procedures, keeps all of your employee’s information and lets you streamline your hiring process. In addition to handling everything employee-related, your HR software handles your employee payroll, automating the process so that your employees have more time to focus on more important tasks.
Shift Planning Software
Shift planning software works in conjunction with your HR software to help HR employees and managers create and maintain employee shifts. Using shift planning software makes managing schedules simple. Managers can enter their employee’s schedules quickly, and the employees can access the shift planning software remotely so they always know when they have to work. When used in conjunction with HR software, employees can submit digital requests for time off, giving them the flexibility they need to manage their own lives while reducing the amount of dropped shifts and miscommunication between management and employees.
Your company’s accounting software is also extremely important. It handles all of the money coming and going from your company, manages department-specific budgets and connects to your HR system to simplify the payroll and accounts payable/receivable processes. Large businesses need robust accounting software that handles all of the little financial details; has the ability to communicate with your HR and ERP software; and has the ability to handle any and all tax issues. If you’re concerned that a software vendor may not offer what you need, you should consider looking at open-source accounting software. This way, the software you use can be customized to your company’s specific needs.
For any company, keeping all of its employees on the same page at all times is critical. However, it’s even more important for large businesses, because it’s a more detailed process. To streamline your workflow and keep all of your employees on the same page, open-source software is a great option. Open-source software, as we mentioned, is customizable, so you can alter it to fit your company’s needs. This means you would have one main software that communicates with your ERP software, HR software, shift scheduling software and accounting software. It’s a one-stop shop for all of the smaller programs that run your business. For large businesses that have multiple departments, as well as departments within departments, open-source software is a great option.
Ultimately, the software you decide to use with your business is completely up to you. Make a list of each type of software needed for your business to run smoothly, and test a few different options to find the one that best fits your needs.