Inaccurate Energy Saving Tags Still Guide Consumers to Good Choices

According to Tracee Carrasco of CBS2 News in New York, the yellow energy-savings tags on appliances do not accurately represent the dollar savings consumers will enjoy when purchasing new appliances.

Carrasco reports that professor of economics Lucas Davis simply says that, “The labels are wrong.”

Davis explains that the dollar figures given on the labels are national averages of electricity costs, and in New York, where electricity is much more expensive, the amount saved will most likely not be the same amount as what is written on the tags.

“They show information based on national average electricity prices,” Davis said. “The problem is, people have no idea how much they spend for electricity so they have no idea how to make that conversion.”

Nevertheless, even with the inaccurate numbers on the tags, they still help consumers decide which appliance to buy based on the comparison of amount saved with the other appliances on display. In other words the tags still help people save money and energy.

“We found people who saw better labels, made better decisions and they saved money—a lot of money,” Davis said.

New York About to Embark on Large Energy Savings Plan

NYEM Headquarters. Photo courtesy of NYPA

NYEM Headquarters. Photo courtesy of NYPA

New York Governor Andrew Cuomo announced his administration’s latest idea to help reduce power usage in public buildings and thus save tax payers millions of dollars over the coming years.

The plan is called the New York Energy Manager, or NYEM, and will consist of a center which will provide public buildings all over the state with real-time information on their energy use. The information will then be used to help building managers to improve their energy performance, resulting in decreases utility bills. The center will be headquartered at the State University of New York’s Colleges of Nanoscale Science and Engineering.

The NYEM was designed by, and is being deployed and managed by the New York Power Authority. NYEM’s mandate is not only to help public facilities reduce their energy usage and running costs; it will also take on the responsibility of helping the state to lower emissions of greenhouse gasses, and to create more jobs in the growing green marketplace.

“The NY Energy Manager leverages the very best in smart technology to help the State save millions of dollars a year on energy costs,” Governor Cuomo said. “This facility serves as a statewide energy monitoring hub that will allow us to lower utility expenses, reduce our greenhouse gas emissions, and continue fostering a robust clean energy economy. I am pleased to see this partnership between NYPA and the Colleges of Nanoscale Science and Engineering at SUNY Polytechnic Institute officially opened, because it is another integral part of our approach to creating a cleaner, greener state for all New Yorkers.”

New York City Pledging Large Energy Savings

Climate Change Big Issue at UN Summit

Climate Change Big Issue at UN Summit

A new initiative for New York to become more energy efficient and to reduce greenhouse gas emissions will be announced in conjunction with the United Nations Climate Summit on September 23, 2014. New York City is planning on a huge general overhaul of its present energy-efficiency standards for all of its public buildings as well as persuading private landlords to comply with the new standards by making similar improvements in their energy consumption.

The initiative is part of a promise which big cities around the world are expected to make to reduce greenhouse gas emissions by 80 percent from 2005 levels by the year 2050. The United States has said that this is the goal developed countries need to reach in order to mitigate the negative effects of climate change.

New York City will need to dedicate at least $1 billion of its capital funding towards improving the city buildings during the coming ten years, according to administration officials. That does not include private building changes. Officials say the increased spending will be included into the city’s 10-year capital plan, which will be publicized in the beginning of next year.

“Global warming was much more of an abstraction to New York City until two years ago,” Mr. de Blasio said in an interview, alluding to Hurricane Sandy, which in 2012 caused 44 deaths and resulted in $19 billion of damage to the city. “There’s a moral imperative to act.”

IDT Energy Ready to Create Genie Energy Subsidiary

An initial registration statement has been filed by Genie Energy, which is a completely owned subsidiary of IDT Energy. The  filing of the statement, which includes a document of description,  is in preparation for the awaited spin-off of Genie and the announcement to the stockholders of IDT Corporation.

It is possible to view the filed statements through the website of the Securities and Exchange Commission.

Howard Jonas, CEO and Chairman of IDT Energy explained the decision of his company to create Genie:

“The spin-off of Genie is one of the key strategic moves we announced last year to enable stockholders to realize the inherent value in IDT’s businesses.”

Recent White House Energy Initiatives

white housePresident Obama and the White House have made great strides lately with clean energy investments and more.  They have over $80 billion in clean energy investments as part of the American Recovery and Reinvestment Act.  This should jump-start the economy and help to build the clean energy jobs for our future.

This initiative includes $11 billion for a highly advanced grid that will move renewable energy from rural places where it is produced into the cities.  It also includes $40 million for smart meters for American homes.  In addition, it includes $5 billion for low-income home weatherization projects.

These are a few of the many initiatives the White House is putting in place for helping the environment and for creating better energy investments in our future.

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