Heating, ventilation, and air conditioning (HVAC) in commercial buildings accounts for approximately 40 percent of total building energy consumption, but advances in HVAC technology can provide for much more efficient and less energy intensive operation. Although adoption of these technologies has been low, except in large buildings, the reduced energy consumption these technologies can provide makes a compelling case.
At the global fore, the project not only utilizes emissions from a coal-fired power plant, but also boosts the oil production, and ultimately reduces CO2 released into the air. Through Enhanced Oil Recovery (EOR), the captured CO2 is expected to create a revenue stream for the by increasing domestic oil production from around 500 barrels per day to approximately 15,000 barrels per day.
The voluntary set-top box energy conservation agreement between the pay-TV industry, consumer electronics manufacturers and energy-efficiency advocates has saved American consumers approximately $168 million in energy bills, according to the Voluntary Agreement for Ongoing Improvement to the Energy Efficiency of Set-Top Boxes 2013 Annual Report conducted by D&R International.
In response to the large number of requests for more time, we are pleased to announce that we have extended the entry period for the Fierce Innovation Awards: Energy Edition by one week. Applications will now be accepted through midnight, ET this Friday, August 29.
As part of the Obama Administration's EV Everywhere Grand Challenge-- which aims, in part, to reduce dependence on foreign oil and transition to a clean energy economy-- the U.S. Department of Energy (DOE) has announced more than $55 million in funding for 31 new projects to accelerate research and development of critical vehicle technologies that will improve fuel efficiency and reduce costs.
Many electric and gas utilities offer rebate programs to encourage the use of ERV. These utilities then reap the benefits of the resulting peak load reductions, operating cost savings, and, ultimately, compliance with mandates encouraging the use of energy-efficient equipment.
With funding from the U.S. Department of Energy (DOE), the National Renewable Energy Laboratory (NREL) launched the Distributed Wind Turbine Competitiveness Improvement Project (CIP) to help the U.S. wind industry develop competitive, high-performance technologies needed to compete in the global distributed wind market and lower the levelized cost of energy so it can compete with retail electricity rates.
Public Service Electric and Gas (PSEG) is using innovation to encourage New Jersey businesses to provide employees with electric car charging at work and foster greater adoption of electric cars, which would help to improve the state's air quality, help companies achieve sustainability targets, reduce costs for employees, and foster the country's energy independence.
"Transportation Electrification: Utility Fleets Leading the Charge" focuses on the electric power industry's effort to accelerate the expansion of electric transportation in commercial and retail markets, beginning with electric utility fleets, encouraging investor-owned electric utilities to meet an industry-wide goal to spend at least five percent of annual fleet acquisition budgets on PEVs and plug-in technologies.
The Fierce Innovation Awards provide a platform for you to showcase the innovative products and services you have created, not just to our distinguished panel of third-party executives from major North American utilities, but also to our 30,000 industry readers in our Innovation Report.