In its rawest definition, energy efficiency refers to the ‘production of more energy with the same or lesser amount of natural resources’. This process involves increasing the efficiency of energy production means as well as installing appliances that require less energy to attain the same level of operation.

In the recent years, energy efficiency has become a hot topic for many governments and private enterprises within the Asia Pacific Region. Not surprisingly, more than half of new global energy demand has been met by energy efficiency alone since the 1990s.

The advantages of energy efficiency are numerous, both environmentally as well as economically. Not only can it improve nation’s energy security and balance of energy trade, it also dramatically increases competiveness of private entities in which energy cost can range from 20% to 70%. Therefore benefits of energy efficiency can be reaped at all levels, both on a wide scale or a unique business scale. In addition, to reap this benefits, the capital expenditure required is far less as compared to implemenation of other ‘renewable resources’ solutions.  In effect, you are not replacing the entire system of energy production. You are merely improving it. In fact, this is the reason why energy efficiency is considered a ‘low hanging fruit’ that can be reaped by all who seek to implement its solutions. Capital expenture low, increased efficiency and decreased cost all make energy efficiency a valid contender for investment/venture money.

In Singapore, the emphasis on this means of transforming Singapore into a cleantech hub is evident. Recently, a Energy Efficiency fund was setup, granting successful project applicants up to $2million of government support. With the limited space and resource in Singapore, Energy Efficiency will continue to be the spearhead in Singapore’s green drive.

As mentioned by Alan Kay, one of the key speakers of the talk. ‘its not a matter of if we have to, its a matter of when we have to’. Sooner rather than later, nations and businesses alike will have to start implementing energy efficiency adoptations because the truth remains that resources, especially energy resources are scarce. Aptly put, I firmly believe that this issue will become more relevant no matter what job or whichever sector we will go into eventually. Therefore, it would ultimately beneficial to keep pace with this growing trend to save not only the environment at large but your business in the process.

This entry was posted on Wednesday, December 17th, 2008 at 4:14 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.