Implementation of Utility Savings and Cost-Effective Energy Sources - Research Paper Example

Utility savings Abstract The paper below focuses on the implementation of utility savings and cost effective energy sources, in addition to the benefits of such implementation. Table of contents 1. Introduction : 5 2. Needs: 5 3. Solution: 6 4. Benefits: 7 5. Cost: 8 6. Opposition: 9 7. Conclusion: 10 8. Reference List: 11 Executive Summary Utility savings are the procedures put in place to reduce the energy consumption in a given locality. There is a need to enhance energy conservation measures and adopt standards that will boost this effort. Such conservation measures can be realized through public and private measures and are all geared towards the acquisition of energy saving sources, such as energy saving bulbs and solar energy utilization. The realization of such utility savings from such measures will be of profound benefits to people of Venezuela in terms of employment opportunity creation, decreasing pollution and minimizing individual cost of energy. The benefits outweigh the cost needed for implementation of the above measures. 1. Introduction Utility savings refers to the procedures put in place to reduce the energy consumption. Recently, there is an ongoing debate about the benefits of energy conservation. Due to the sudden increase in the world’s population, the demand for energy has also increased. Unfortunately, energy is an exhaustible resource whose reserves may run out. This has prompted various agencies to come up with policies that help in energy conservation. Utility conservation can be realized through the increase of efficient energy use as well as use of other alternative forms of energy. Utility conservation results in increased financial capital, national security and improve the environmental quality. Currently, Venezuela is the largest supplier of oil and natural gases in the Western hemisphere. There has been an increase in the demand for this form energy which threatens the security of this form of energy. However, there are various are various ways of conserving energy which include the use of solar energy and appliances that help in conserving energy. A legislation on conservation of energy will also include the adoption of building codes and taxation policy that are aimed at conserving energy (Enerdata, 2010). 2. Needs In the Western hemisphere, Venezuela has the second largest natural gas and the largest oil reserves. The country has largely invested in hydroelectric production which supplies the country with electrical power. It also has other sources of energy which include tar sands, crude oil as bitumen. Petroleos de Venezuela S.A is given the mandate to run as well as control the natural gas and oil reserves. The company contributes greatly to the economy through exports and providing employment for the citizens of Venezuela. However after joining OPEC, the country has been forced to amend their energy ownership policies (Enerdata, 2010). The country heavily relies on its natural oil and gas reserves for energy production. This has led to significant oil pollution in the Caribbean coast. In the Western Hemisphere, Venezuela is the largest carbon dioxide emitter. Emission of the hydrocarbons has also resulted in collapsing of the eastern shore America’s largest lake, Lake Maracaibo. Most of the countries in the region rely heavily on Venezuela for their energy consumption. Following the sudden increase in the world’s population there has been an international scare that the scarce resources may run out. About 80% of the citizens of Venezuela are employed by the energy industry. It is thus necessary for the government to adopt policies that enhance energy conservation (Enerdata, 2010). 3. Solutions. There are various ways that the country may adopt to conserve energy. This include the use of alternative energy sources , regulation the mining of oil at the oil reserves as well as holding public campaigns to educate the citizens on ways of conserving energy. The government may also pass policies that are geared towards energy conservation. The use of solar energy as a source of energy has contributed greatly to energy conservation measures. The policies include the adoption of building codes that encourage the use of double-glazed windows which act as insulators thus reduce the loss of energy (Donal, 2009). In the public campaign, citizens should be encouraged to use energy saving appliances and bulbs. They should also be educated on ways to increase efficient use of energy. The government should also educate the industries and commercial users on ways of conserving energy. The process of energy conservation will include the public and the private sector. The senator should involve the government and the private sector in holding the education campaigns. The government should reduce the taxes imposed on the energy saving equipment. It may also offer subsides on these appliances so as to encourage the private sector to invest in the importation of these goods (Donal, 2009). 4. Benefits Upgrading the efficiency in energy is a faster and easier way to save money, create jobs and cut on pollution. Such innovativeness will offer the best hope for the progress of job creation. The jobs created will be in terms of engineering and construction jobs. The jobs created include those for electricians, construction workers and builders. This will especially benefit those that have been idled by the current collapse of the construction trade regionally (Clinton, 2011). Another benefit that will arise is the immediate reduction in costs of energy. With proper implementation, energy costs of up to 90% less can be realized. The life time dollar savings have been estimated at $1.78 million if the energy savings bulb will be used. This will therefore translate into cheaper energy costs. Locals can therefore save a lot of money in terms of energy saving. This can then be utilized in doing other more important things. This will lead to better standards of living. Businesses and companies will also be able to cut on the cost of fuels and therefore, increase their yields and profit margins. This means that they might have more money to pay extra workforce if the need arise (Enerdata, 2010). Another major benefit that arises from adoption of energy saving approaches is the reduction in pollution. Currently, pollution is a major issue that poses a lot of threat to man and any form of life on this planet. It has been shown that adoption of such tactics reduces the amount of pollutants that commonly occur with older methods of energy provision. Most cancers are associated with increased pollutants levels within the atmosphere. Alternative methods of energy such as the solar system have zero level of pollution for they utilize a natural source of energy: sun. Adoption of such will lead to the slowing down of global warming within the earth. It will also be of utmost health benefit to the people of Venezuela (Donal, 2009). 5. Cost As the local communities with our area continue to suffer from the ongoing economic turbulence due to the recession, and as the businesses within this locality pare budgets and pinch pennies down to the bare minimum, the notion of spending money so as to save energy may appear counter-intuitive to some of the members. Close to $10 million will be needed so as to undertake energy-conservation upgrades and energy evaluation for homes, business and affordable housing units. This cost will be needed in order to buy this new energy saving appliances. This appliances include energy saving bulbs, green sources of energy such as solar panels and circuitry equipments. More than 10 million conventional light bulbs will need replacement by the new energy saving ones (Enerdata, 2010). The cost of all these is negligible, compared to the returns that this implementation will bring onto the people of Venezuela. Some of this forms of energy such as solar appliances will need zero cost afterwards, and in this way, leading to the recouping of cost used in the installation. Also, the energy saving bulbs and other appliances will use less energy and hence lower the cost of energy and in such ways, recover the money utilized in obtaining this appliances. Businesses and company will also cut the cost needed to pay for energy and thus may invest in other business ventures which will earn them more money; thus, recovery of money used in installation of this appliances (Enerdata, 2010). On the other hand, if the senate fails to implement and adopt this energy saving standards, the cost incurred by the people will be more. This will translate to a rise in the cost of living. Companies will also be forced to pay more in terms of energy cost and thus decreased yields. Overall, adoption of energy saving standards has more benefits than losses (Enerdata, 2010). 6. Opposing views Venezuela is famous for high output of Hydro Electric Power. Such efforts to adopt energy saving standards may be seen as undermining one of the countries biggest industry which is Hydro Electric Power. This might also indirectly cause the downsizing of workforce in these power units if they are underutilized. Venezuela is also known for its natural gas reserves which are a huge income earner for the government. Therefore, such efforts might be seen to undermine this sector. Resistance might also come from those who think that cost of implementing the above energy saving standards is expensive (Donal, 2009). However, the benefits of utility savings far outweigh the worries of those who will be in opposition to implementation of these measures. This will clearly decrease the rates of unemployment in addition to minimizing cost of energy among all members. Thus, the fears of all those in opposition are not justified. 7. Conclusion Utility savings are of much benefit to the people of Venezuela. There is a need for the adoption of energy saving procedures. This can be realized through the installation of energy saving bulbs and solar panels. Building construction standards should be geared to energy saving tactics such as double glazed windows to minimize the need for heating or cooling which utilize energy. The benefits from the above measures are immense. These include creation of jobs, minimization of costs involved in paying for energy, and a decrease in the emission of toxic pollutants such as carbon compounds. Money will be needed for implementation of the above measures, and though it may seem counterintuitive, the benefits outweigh the losses. Utility savings improves the life of Venezuela people. Reference List. Clinton, B. (2011). It’s Still the Economy Stupid. The Daily Beast. Retrieved from http://www.thedailybeast.com/newsweek/2011/06/19/it-s-still-the-economy-stupid.html Donal, R. (2009). Energy Efficiency Manual. London: Energy Institute Print Enerdata, T. (2010). Venezuela energy report. NY: McGraw Hill. Read More