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Economic Benefits of Energy Efficiency

 
Energy efficiency and renewable energy provide significant benefits to the economy. More than reduced utility costs, the shift to more sustainable energy options can lead to macroeconomic impacts that can boost economic activity and drive employment for businesses. 

In a report published by the International Energy Agency, energy efficiency improvements can deliver benefits across the whole economy, with direct and indirect impacts on economic activity that can be measured by a country’s gross domestic product, employment rate, trade balances, and energy prices. 
 
According to a publication released by the World Bank, energy efficiency directly contributes to some prevailing development challenges in its twin goals of poverty reduction and shared prosperity. In a report published in 2016, it noted that improved energy efficiency in various industries can modernize technology and increase competitiveness without compromising the environment. As economies develop and more infrastructure rises, the demand for energy services will continue to increase. Investing in renewable energy will also provide the same requirements for this development, but with less negative impacts to the planet. 
 
Moreover, the World bank also emphasized that cleaner sources of energy can lead to freed up fiscal resources can then be used for socio-economic development and for programs. Energy efficiency mitigates the impact of ongoing tariff reforms, which adversely affect poorer households. 
 
Instead of importing natural gas and electricity supply, renewable energy generated can benefit domestic and local companies and retailers to provide energy management services. Local governments can contribute to economic growth by generating energy on-site, purchasing green power. The combination of renewable energy options can help meet local government goals especially in areas where the availability and quality of renewable resources vary. 
As a ‘mostly untapped resource’, the World Bank also noted that substantial gains remain available through the adoption of cost-effective measures, global best practices, and available technologies. This can be applied specifically to the commercial real estate sector, which represents over 40 percent of the global energy demand. 
 
Larger Impacts of Reduced Utility Bills 
Lesser utility bills can benefit companies more than overhead savings. Sustainable commercial developments offer this advantage to businesses, leading to a greater return on investment, more funds to allocate for development, and providing better options to its employees. 
 
READ MORE: How can solar power reduce building costs? 
 
 
Increasing Property Value 
In the commercial real estate market, energy-efficient developments frequently sell for a higher price than regular buildings with comparable features. Energy efficiency features and measures add value to your property.  
 
According to the International Energy Agency, solar power is turning into the cheapest source of new electricity generation capacity in many countries, especially in Asia. It is also endorsed by frontrunners of sustainability and green real estate for the benefits it offers environmentally and financially. According to a study conducted in 2018, the Philippines ranked first among other developing countries in the continent in terms of the use of solar photovoltaic systems for electricity generation. It has topped Asia and ranked 5th in the world for the use of solar energy across various sectors and industries.  
RELATED: Capitalizing on Solar Energy: PH tops Asia, ranks 5th worldwide in solar energy use 
 
JEG Tower @ One Acacia is the first commercial development in Cebu City to utilize solar energy to power its shared spaces. Committed to sustainability, this 22-storey premium green building is designed and constructed to promote and practice holistic benefits to businesses, the community, and the planet. 
 
Interested in knowing more about the impact of energy efficiency on your business? Contact Alexa Abella at (+63) 917-825-6884 or email jegtower@kmcmaggroup.com. 
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Capitalizing on Solar Energy: PH tops Asia, ranks 5th worldwide in solar energy use

The Philippines has topped Asia and ranked 5th in the world for the use of solar energy across various sectors and industries.

According to a study conducted in 2018, the country was hailed number one among developing countries in the continent in terms of the use of solar photovoltaic systems for electricity generation. As a tropical archipelago, experts agree that the Philippines has the potential to generate a lot of energy from natural resources. In recent years, local government units and private firms partner to capitalize on this potential. Numerous solar energy farms across the country have been established and founded to supply electricity and power to select areas and localities.

solar panels in the Philippines have come to the forefront in cost efficiency with regular consumers. In truth, the Philippines has been generating energy from renewable resources for a long while now. It has only been in recent history that more of the Filipino people are recognizing the benefits of renewable energies as an alternative to oil and carbon. Listed below are the renewable energies found in the Philippines, as well as the geographic location of the power plants where they can be found.

Cheap, Clean, Renewable

According to the International Energy Agency, solar power is turning into the cheapest source of new electricity generation capacity in many countries, especially in Asia. It is also endorsed by frontrunners of sustainability and green real estate for the benefits it offers environmentally and financially.

READ MORE: Benefits of Solar Energy in the Office

The IEA also noted that they are looking forward to the next 25 years, when the world’s growing energy needs are met first by renewables and natural gas as fast-declining costs turn solar power into the cheapest source of new electricity generation.

Investment in Sustainability

The Department of Energy has been bullish in exploring and investing in renewable energy generation to help lower costs, meet the consumption demands, and lessen the country’s carbon footprint. Beyond costs, solar power generation also reduces emission of environment-harming greenhouse gases that contribute heavily to the climate crisis.

Moreover, the shift to renewable energy in real estate is constitutionally encouraged in the country. The Energy Efficiency and Conservation Act requires building owners to use renewable sources. Solar power is most plausible given that the Philippines remains to be the only country to experience 2,000 hours of sun per year.

With the massive movement to go green especially in real estate, the investment or additional cost incurred in the technology used to support solar energy can be outweighed or mitigated upfront by several benefits that it can provide in the long run.

Beyond the idea of conservation, highlighting the improved energy efficiency structure that will be unique to adopting developments and estates is an unparalleled advantage that will have far-reaching implications in overall energy consumption and demand globally.

Interested in green buildings and the move to a more sustainable future? Contact us today at (+63) 2-8403-5519 or email info@kmcmaggroup.com.

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Benefits of Solar Energy in the Office

The use of solar panels as an alternative energy source can be one of the unique features of a green building. Commercial solar panels capture sunlight and convert it into electricity in order to meet the building’s power needs to operate. As sustainability continues to be one of the standards in real estate development in the new normal, more and more property owners are considering to install commercial solar panels to attract tenants and occupiers. Here are some benefits of using solar power energy in the workplace:

Energy Independence

With growing power demand, overburdened networks and increasingly erratic weather, electricity supply remain volatile in some parts of the Philippines. Commercial buildings that utilize solar panels reduce its dependency on the local power grid.

Stored solar energy can help in guaranteeing a 100% uptime and providing a more reliable backup power to sustain business operations in case of a power blackout.

Environmental Impacts

Solar power is a clean and renewable energy that does not contribute to the creation of carbon emissions in the world, effectively reducing air pollution. By using solar power instead of the municipal power supply, businesses that are located in solar-powered establishments limit the production of greenhouse that also contributes to common health problems such as asthma.

RELATED: Greener Philippines: Achieving True Sustainability In Real Estate

Operational Savings

Installing solar panels and sourcing electricity from the sun’s rays also reduces the building’s operational costs. Since commercial buildings that utilize collected and stored solar energy are not purely dependent on local power grids, businesses can expect a partial cut off their monthly utility bills.

Corporate Social Responsibility

Businesses and brands that support and promote sustainability leave a positive and lasting impression on existing and potential clients. Using solar energy and contributing against climate change is considered to be a plus for a company’s CSR.

Return on Investment

Installing and utilizing solar panels has the potential to increase the resale value of any commercial property. Real estate and property investors are more inclined to pay a premium for developments that have solar-enabled assets that deliver benefits to their tenants and occupants.

READ MORE: Green growth: Why is Sustainability crucial for Cebu City

Push for sustainability locally

Named as 2020’s Best Green Commercial Development in the Philippines, JEG Tower @ One Acacia is designed towards sustainability and operates to reduce negative impacts to the environment, and provide a safe and healthy working environment in Metro Cebu.

Interested to know more about how JEG Tower @ One Acacia promotes sustainability in Cebu City’s property market. Contact Lorenzo Rodriguez at (+63)-917-825 6884 for inquiries and more information. You can also call us at (+63) 2-8403-5519 or email info@kmcmaggroup.com.