With constant warnings about greenhouse gases, melting polar ice caps and the negative effects of oil drilling, green building practices are constantly being implemented in city-wide projects to lower energy usage. Office buildings and residences enjoy the majority of savings since green building materials, technology and design can halve monthly energy costs without incurring much up front cost. Financing options and government subsidies often help defray or cover what costs are incurred.
Though there may be some initial cost to retrofitting buildings for energy efficiency, investing in retrofits that use green technology is valuable in the long term. For one thing, lowering global greenhouse gas emissions is economically crucial. In addition, the price of energy – particularly that supplied by oil – has risen by a substantial margin. A recent MSNBC article on a green residential building project in Fort Worth, Texas, which reported projected savings of greater than 50 per cent. Those savings are particularly impressive in light of the fact the company’s up front costs were only two per cent more than the fossil-fuel consuming norm thanks to the use of recycled materials.
Moreover, an energy reformation is necessary because there isn’t enough fossil fuel to go around. Oil companies cannot keep up with increased demand from emerging economies in South America and Asia. While the cost of crude oil was $40 a barrel in 2000, it had risen to $93 a barrel by 2011, according to Rebuilding Green, a special report by a the BlueGreen Alliance and the Economic Policy Institute.
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