Is Canada ahead in the turtle race to energy efficiency in North America? The always-witty Phillipe Dunsky, president of Dunsky Energy Consulting, thinks that while Canada’s past on that front might have been humdrum, it’s a whole new era now.
For that, credit Canadian Prime Minister Justin Trudeau, contended Dunsky at the Midwest Energy Efficiency Alliance’s 2016 Midwest Energy Solutions Conference. He noted that until three months ago, the two countries possessed very similar energy-efficiency perspectives:
Here’s a brief primer on NPV from Joe Knight, partner with the Business Literacy Institute and co-author of Financial Intelligence: "Net present value is the present value of the cash flows at the required rate of return of your project compared to your initial investment. In practical terms, it’s a method of calculating your return on investment for a project or expenditure. By looking at all of the money you expect to make from the investment and translating those returns into today’s dollars, you can decide whether the project is worthwhile."
Dunsky emphasizes one other key point: Energy efficiency, based on a cost-per-kilowatt saved, can be cheap. He says most people underinvest because they worry about the upfront investment.
So, there we have it. On its face, a rather boring Canadian lesson about a market switch gets flipped and delivers a way for us to be bold ourselves in employing market drivers for energy efficiency.
Joyce Coffee is managing director of the Notre Dame Global Adaptation Index which exists to increase the world's awareness of the need to adapt to climate change.
Joyce Coffee, LEED AP, is founder and President of Climate Resilience Consulting, a Certified B Corp. She is an accomplished organizational strategist and visionary leader with over 25 years of domestic and international experience in the corporate, government and non-profit sectors implementing resilience and sustainability strategies, management systems, performance measurement, partnerships, benchmarking and reporting.