We spend a lot on energy, about $5000 - $7000 per year per household. What would happen if we saved a modest amount? It turns out that our high spending on energy use at the household level, creates high city-wide energy spending, and so even a modest level of savings -- say just 5% -- can create a multi-millon dollar impact on the local economy. This is great news for cities and provides exciting possibilities for local economic development and energy use reduction.
Recently, WattzOn CEO Martha Amram spoke about our work in this area at the Silicon Valley Leadership Group's (SVLG) Energy & Sustainability Summit. To illustrate the magnitude of economic impact, we did a case study of the city of Fremont, CA. We also introduced our latest tool for visualizing the energy savings and economic benefits locked within residential communities: City maps that show energy use, savings potential, impact of solar installations and achievable reductions in CO2 emissions on a neighborhood level.
The key takeaway for the case study is that Fremont could realize 600 new jobs and $29M in additional local retail spending from a residential savings program. The city is excited to connect residents to economic development and to tap into this new tool.
Interested in reading our whitepaper? We'd love to share it with you - just email us at firstname.lastname@example.org for a copy.