Institutional energy saving has become very chic. Although initially the measure was thought to be frivolous, and borderline frugal, now energy conservation has come to mean more than a mere economic savings. Perhaps due to the positive culture surrounding minimalist foot printing, reducing the amount of energy you, as an institution, person, or building, consume is one of the most ostentatious marketing strategies around. How exactly do these environmental and sustainability programs benefit an institution? Well I went inside with a university energy consultant to find out.
Of course, at the front end there is the energy factor. Although energy prices at the time are astoundingly low, from and industrial ecological perspective, it does not mean that this trend will last indefinitely. Universities are not as fickle as businesses. For the most part, the life cycle of a university is long… far longer than that of an arbitrary business. As a consequence, most of a university’s finances are organized in a way that benefits the universities longevity, without exposing the institution to unnecessary risks. This creed is also how most institutions approach their investments, both capital and otherwise. Since oil and coal fired energy are not a good bit for the LONG game, most universities are trying to weather the coming storm by hopping on the sustainable band wagon early. When we consider it from this angle, we can comprehend the economic incentive directly.
From a marketing standpoint, having a sustainable energy portfolio attracts a couple of parties that Universities are generally vying for. First off, a sustainable energy portfolio attracts professors who are in to environmental sciences and green processes. Even if there is not an established, strong environmental science program, there is still a culture of sustainability that professors are often drawn to. This can not only bring in some ‘big names’ (look at Columbia’s Jeff Sachs), but it can also generate more grant money. Big name professors mean big ticket grants and big publicity research. No school wants to pass up having its name associated with quality publications. Thus, by making a shift towards a sustainable energy source, a school has a snowball of consequential publicity.
Also, students, especially young students, love renewable and sustainable energy pushes. There is a buzz and excitement amongst younger generations about being involved with the energy of the future. Therefore, if a school has a large investment in solar panels, wind turbines, or even solar hot water tanks, it can have an impressive increase in school popularity. Especially by incorporating programs that get the students involved with these projects. Even just having the potential for involvement breeds interest.
Additionally, investors and benefactors are impressed when schools make morally responsible decisions. A wealthy parent of a student that reads about the new sustainability portfolio of his or her child’s school will probably have a softer feeling for the school. Who knows, this may result in money given, or it may not. But at least at a subconscious level there is an affinity and respect for the morally responsible decisions being made by the institution.
Finally, who better to gain favor from then the local businesses. Often times, part of developing a sustainable energy portfolio is extracting the goods and services you need from nearby businesses. This increases favor throughout the neighborhood and community. These often improves relationships both ways. Not only is the university given a bit of freedom as far as the legal complications that often arise with having a student body around, but also the community benefits by getting additional contracts.
All in all, developing a sustainable energy portfolio for a university is a highly beneficial action. These portfolios can range in their intensity, commitment, and density. However, even having a modest portfolio can result in many positive ramifications.
And as always check back to www.energygridiq.com for all your energy news and thoughts.
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