by Shane Henson — May 24, 2013—United Technologies Corporation, a global company providing high-technology products and services to the aerospace and building systems industries, released a study this month showing how a 30 percent increase in building efficiency by 2030 would generate net annual positive cash flow of $65 billion for households, businesses and the government.
According to findings from the report, Unlocking American Efficiency: The Economic and Commercial Power of Investing in Energy Efficient Buildings, such an improvement in energy efficiency would create a $275 billion market for advanced technology, engineering and design services, and construction activity in the United States alone. In addition, the energy savings would generate $34 billion per year for American businesses, net of investment expenses, that could either be passed on to consumers or used to hire more employees, or to invest in research and design or expanded production.
The report further notes that it is not just businesses that would benefit from improving building efficiency, as households would save an additional $23 billion per year that they could use to save for the future, invest in education, or spend on consumer goods or personal services. Just as important, federal, state and local governments in budget-constrained times would save more than $8 billion annually, equivalent to funding the National Science Foundation or nearly all of the annual budget for the U.S. Environmental Protection Agency (EPA).
The 32-page report was prepared by the Rhodium Group, which combines policy experience, quantitative economic tools and on-the-ground research to analyze global trends.
