In the U.S., higher education facilities spend an average of $1.10 per square foot on electricity costs, 31% ($0.34) of which are lighting costs. In most colleges and universities, laboratory and residential buildings are the biggest energy users. At Harvard University, for example, while laboratory buildings make up only 22% of the buildings on campus, they use 49% of the total energy; residential buildings and dorms account for 18% of the university’s energy consumption.
School's out for the summer! With college campuses emptying for the next few months, there is more time for staff to focus on other important aspects of the school, like saving money and energy. In fact, college and university campuses are among the most energy-intensive property types in the world and the summer break is a good time for facility managers to consider starting an energy efficiency project.
This blog post is an excerpt from "The Missed Investment: How College and University Endowment Funds Can Achieve the Highest and Safest Return" by Peter Fairbanks, President of Fairbanks Energy Services.
In the last 3-4 years there has been a significant movement to invest in green improvements on college and university campuses. Being among the most energy-intensive property types in the world, there are numerous opportunities for efficiency projects that address lighting, building system controls, chilled water systems, steam systems and more that have simple paybacks after utility incentives of about 2 to 3 years. Implementing these solutions will help campuses reduce their overall carbon footprint, lower energy costs, and promote a sustainable future in surrounding communities.
Peter Fairbanks, President of Fairbanks Energy, authored a piece published in the Boston Business Journal on investing in efficiency improvements at college and university campuses. Read the piece below: