In an innovative move, the Town of Babylon has set up an extensive program to work with citizens to pay for energy efficiency upgrades for every home in the town. The basic premise of the program is that the town wants to help residents use less energy, so here’s what they plan to do. They’re going to loan up to $12,000 at the super low interest rate of 3% to pay directly for renovation costs. Under the program, residents get home energy audits that include recommended actions for renovations, including adding more insulation, changing out the HVAC system, etc. The town pays for the renovations and the homeowner then makes payments to the town based roughly on the reduction in payments caused by having a more efficient home. So it’s quite the innovative system.
Here’s some interesting news: a new Department of Energy report claims wind turbines could generate 300 gigawatts of electricity — roughly 20% of the US electrical grid — by 2030. There’s already a website in support of the news at 20%Wind.org. The report doesn’t necessarily predict the future of the wind industry, but it paints a picture of what a particular 20% wind scenario could mean for the nation. The wind industry currently produces about 17 gigawatts of electricity, so we’re talking about significant growth over the next twenty-something years. That said, wind industry growth has been fierce in recent years and is on track to meet these numbers if growth holds pace.