Doom and gloom

There’s been a little bit of doom and gloom in the news regarding energy reduction targets in the US and the UK lately. A recent article explained the current depressing situation in the UK:

“The organisation’s Beyond ECO: The Future of Fuel Poverty Support report, published today (July 3), reveals that the Government is likely to “dramatically miss” its Fuel Poverty Strategy target of ensuring all fuel-poor homes are upgraded to an energy efficiency rating (EPC) of C by 2030, and will not meet this aim until 2091 at the earliest.”

2091. At the earliest.

That’s a long ways off from 2030. A combination of weak energy-efficiency policies, the slow deployment of better efficiency measures, and the lack of support for addressing “fuel poverty” (a household’s inability to operate efficiently due to a lack of modern energy-saving measures like better windows, insulation, and heating) adds up to a big problem that does not look like it will be fixed any time soon.

Across the pond… and everywhere else

It’s not looking great in the United States, either, where it is reported that “America dropped two spots on the biennial American Council for an Energy-Efficient Economy scorecard”, partly due to the changes in the methodology for the scoring of residential and commercial efficiency codes, but also due to recent policy changes under the Trump administration.

With the ever-increasing demand for energy around the world — some estimates show a growth of as much as 30% in energy demands by 2040 (source) — things are going to need to change. We are currently heading in the wrong direction, despite all the good intentions. As of now, policies are allowing for steadily increasing quantities of energy consumption and waste. The current approach just isn’t going to cut it. Literally.

A change in mindset can cause a change in action

A different mindset is needed to tackle this problem. As of now, most energy-efficiency policies involve determining a lofty goal, imposing a few taxes and guidelines, and hoping for the best, knowing all along it simply is not going to be enough to cause significant change. It’s the best solution that policymakers have come up with, but clearly, something else needs to be done.

At Energi Mine, we aim to address this problem from a completely different angle; through incentives, rewards, and cutting-edge technology. Taking advantage of blockchain technology to reward energy-conserving behaviour with the EnergiToken (ETK), consumers will be motivated to make a difference. ETK can be rewarded for energy-saving measures, such as installing better insulation or windows in fuel-poor homes, for example. The ETK currency can also be used by consumers to pay toward green energy products and services provided by Energi Mine’s expanding range of partners. Consumers might be motivated to change their habits for their own benefit, but the end result of their change in behaviour will be a collective societal benefit.

Doing the same thing and expecting different results is irrational. Instead, we need to look at new solutions like the EnergiToken incentive program, that are designed to motivate positive change. Governments, local businesses, and investors need to take a closer look at solutions like this, as it offers a way to address this ongoing problem and to achieve authentic change. Policymakers, in particular, need to look at opportunities to implement and succeed in achieving lofty energy-saving goals, through the utilisation of unique technologies like EnergiToken.

We might be losing some battles against waste and pollution, but with a better approach to reducing energy consumption, we can help win the war.

Author: Darren Klein.

For more information about EnergiToken and its energy-saving reward scheme, please visit www.energitoken.com, follow on Twitter at @EnergiMine or join the Energi Mine Telegram group.