# The Future of Energy: Tech and Data are Driving Change, Fast
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-08-02
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: Renewable Energy Revolution: Efficiency, Savings &
Meta Description: Discover how renewable energy is reshaping the economy and environment, from solar installations to smart technologies, driving efficiency and sustainability
URL: https://financedigest.com/the-future-of-energy-tech-and-data-are-driving-change-fasthtml

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_By_ **_Greg Fasullo,_** _CEO of Elevation_

Renewable energy is the future, and the future has been here for quite some time now.

When former President Obama signed [the American Recovery and Reinvestment Act](https://obamawhitehouse.archives.gov/the-press-office/2016/02/25/fact-sheet-recovery-act-made-largest-single-investment-clean-energy) into law in 2008, it provided more than $90 billion in clean energy investments and tax incentives to promote job creation and the deployment of low-carbon technologies. This caused a boon in innovation and investment for renewable generation technologies and projects. As the market diversified, cost reductions and incentive programs made  solar installations particularly lucrative for utilities, developers and consumers. Many of the [technologies that Americans use to power their homes found their roots in this time](https://www.financedigest.com/why-its-time-to-centralise-public-sector-technology.html "Why it’s time to centralise public sector technology") period.

**Clean Energy Demand is Rampant**

[Renewable energy](https://www.financedigest.com/ges-investors-seek-solutions-to-renewable-energy-supply-chain-challenges.html "GE’s investors seek solutions to renewable energy, supply chain challenges") remains increasingly popular. It’s accelerating into the lives of everyday Americans, as the residential solar market experienced its fifth [consecutive record year in 2021](https://www.seia.org/solar-industry-research-data#:~:text=The%20residential%20solar%20market%20experienced,outages%20and%20low%20financing%20costs), growing 30% over 2020. The motivation behind this extended growth is clear — it’s about the green, in more ways than one. [A survey shows](https://www2.deloitte.com/content/dam/insights/us/articles/4568_Resource-survey-2018/DI_Deloitte-Resources-2018-survey.pdf) that 58% of people who have installed solar panels to their home list that “solar panels are clean and don’t contribute to climate change” as a motivation for doing so. Even more — 59% list [saving money](https://www.financedigest.com/how-to-save-money-for-a-car.html "How to save money for a car") on their electricity bills as a motivation.

The intersection of environment and economics is powerful, and not just for homeowners. New [technologies that increase energy](https://www.financedigest.com/schneider-and-greenyellow-target-smaller-businesses-with-energy-saving-technology.html "Schneider and GreenYellow target smaller businesses with energy saving technology") efficiency can be adopted at-scale, allowing everyone to experience the benefits, from everyday homeowners, to institutional landlords and real estate developers, to Americans that rent single family homes.

**Efficiency is Key**

One of the largest areas where clean energy technologies can make  a quick impact to lower costs and emissions is home energy efficiency. Home energy usage makes up [the largest portion of the average American’s carbon footprint](https://8billiontrees.com/carbon-offsets-credits/reduce-carbon-footprint/average-footprint-per-person/american/). In fact, [according to the U.S. Department of Energy (DOE)](https://rpsc.energy.gov/energy-data-facts),  the average household in 2019 used energy that released an estimated 17,302 lbs. of carbon dioxide. This means that, on an annual basis, the average home is responsible for 70% more [emissions than the average passenger vehicle](https://www.financedigest.com/eu-proposes-tighter-vehicle-pollution-emission-standards.html "EU proposes tighter vehicle pollution emission standards").

So, what [innovative tools are being used in energy](https://www.financedigest.com/the-next-upcoming-years-to-see-the-aesthetic-lasers-and-energy-devices-market-get-through-the-best-of-both-innovation-and-inquisition.html "The Next Upcoming Years To See The Aesthetic Lasers And Energy Devices Market Get Through The Best Of Both – Innovation And Inquisition") efficiency, and where can they take us?

Smart technologies, like smart thermostats and connected apps, are [leading the way](https://www.financedigest.com/bank-of-the-future-challengers-leading-the-way-to-cloud-adoption.html "Bank of the future – challengers leading the way to cloud adoption"). More and more homeowners, landlords, and [renters are opting to replace their outdated appliances and light fixtures with smart](https://www.financedigest.com/canada-water-smart-choice-renters.html "Canada Water Is A Smart Choice For Renters"), energy-efficient updates. As price drops on technology and legislative tailwinds like the recently-signed [Bipartisan Infrastructure Investment and Jobs Act](https://www.whitehouse.gov/bipartisan-infrastructure-law/) continue to converge, homes will become more efficient. In 2021, [the International Energy Agency (IEA)](https://www.iea.org/reports/energy-efficiency-2021/executive-summary) forecasted that the stock of connected appliances, devices and sensors would overtake the number of people on the planet.

**Visibility and Connectivity Through Tech**

While [increases in both the capabilities and the availability of energy efficient](https://www.financedigest.com/increase-your-business-efficiency-with-integrated-labels.html "Increase your Business’ Efficiency with Integrated Labels") appliances and technology are exciting, they’re not enough on their own. To maximize the impact of these tools, you [need to understand where your home’s energy](https://www.financedigest.com/swedish-energy-minister-need-to-decouple-gas-from-electricity-price.html "Swedish energy minister: need to decouple gas from electricity price") is being used, and why. [Energy monitoring](https://www.financedigest.com/energy-utilities-sector-to-hold-60-share-in-switchgear-monitoring-system-market-by-2031.html "Energy & Utilities Sector To Hold 60% Share In Switchgear Monitoring System Market By 2031") tools allow homeowners, institutional landlords, and residents the ability to view, understand, and optimize their energy usage.

As the old adage states: you can’t manage what you can’t measure.

This [rings true in the case of energy](https://www.financedigest.com/uk-energy-regulator-drops-plan-to-ring-fence-customers-cash.html "UK energy regulator drops plan to ring fence customers’ cash") efficiency. An energy efficient appliance purchase and installation will make its largest [impacts — environmentally and economically — when targeted with real-time data](https://www.financedigest.com/dollar-skids-after-soft-u-s-economic-data-impact-of-opec-cuts-fades.html "Dollar skids after soft U.S. economic data; impact of OPEC+ cuts fades") that’s validated and actionable. [Technologies that can deliver](https://www.financedigest.com/cut-evidence-empower-how-technology-can-help-banks-deliver-on-cop27-commitments.html "Cut, evidence, empower: How technology can help banks deliver on COP27 commitments") this valuable insight directly to the phones of residents and the computers of landlords will prove valuable going forward.

Real-time energy monitoring and analysis platforms are untapping opportunities for [immediate impacts](https://www.financedigest.com/the-fca-is-taking-immediate-action-on-customer-vulnerability-but-how-does-this-impact-advisers.html "The FCA is taking immediate action on customer vulnerability; but how does this impact advisers?"), and homeowners and property managers should adapt and use these technologies with the same urgency. The [time to act](https://www.financedigest.com/it-is-time-insurers-act-smart-by-making-legacy-systems-a-thing-of-the-past.html "It is time insurers act smart, by making legacy systems a thing of the past") is now. With favorable policies, increased awareness and demand for ESG in [real estate](https://www.financedigest.com/the-north-heads-south-to-mipim-en-masse-to-corner-new-real-estate-business-opportunities.html "The North heads South to MIPIM en masse to corner new real estate business opportunities") portfolios, and dropping technology and electricity prices, energy efficient homes are a sound investment. The companies that offer [technology with years of aggregated data](https://www.financedigest.com/manchester-arts-centre-the-lowry-selects-logpoints-siem-technology-to-safeguard-customer-data.html "Manchester arts centre The Lowry selects LogPoint’s SIEM technology to safeguard customer data") in this space are ready for their time to shine.

The focus on energy-efficiency and the tech that will help us get there, faster and easier, carries a unique win-win-win opportunity: renters and homeowners can save money on their electricity bills and reduce their [carbon footprints](https://www.financedigest.com/ecb-can-cut-carbon-footprint-by-shedding-bonds-of-biggest-polluters.html "ECB can cut carbon footprint by shedding bonds of biggest polluters"), institutional landlords can make ESG gains in their residential portfolios, and the planet and air that we all share will benefit from reduced emissions.

The [future is green](https://www.financedigest.com/from-implant-chips-to-green-web-hosting-heres-what-experts-believe-the-future-of-the-internet-will-look-like-2.html "From implant chips to green web hosting, here’s what experts believe the future of the internet will look like"), in more ways than one.

**_About Author_**:

_Greg Fasullo is CEO of Elevation, a fully-integrated residential energy solutions company, and an executive and entrepreneur with three decades of [experience achieving positive change in the human condition through technology](https://www.financedigest.com/how-is-modern-technology-shaping-our-in-store-experience.html "How Is Modern Technology Shaping Our In Store Experience?"), innovation and ethical capitalism._

 **Elevation \|** **www.poweredbyelevation.com**


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