Monday, July 14, 2008

Honeywell Helps Biz Pick Best Renewable Energy

Once a company decides it's going to make the switch to cleaner, renewable energy, the next question is often: Which type is best? In other words, would a wind turbine make sense, or maybe solar power would provide the fastest payback, or perhaps there are geothermal resources? What are our utility rates, rebates and tax incentive options?

Honeywell (HON) has developed a computer program that provides customers with the data they need to choose the best renewable energy for their needs. The Renewable Energy Scorecard analyzes the variables of any location in North America and recommends the best clean technology based on environmental and economic benefits. The Scorecard considers solar, wind, biomass and geothermal. It provides a payback for technology and a financial forecast based on tax implications, rebates and subsidies.
A challenge will be keeping up with the ever-changing energy technology and basing the data on real-world results rather than only a manufacturer's promised performance.

Honeywell, as one of four energy service companies selected by the Clinton Climate Initiative to help the world's largest cities increase efficiency and cut global warming emissions, came up with the Scorecard tool after struggling with the challenges of determining the best and most economic renewable energy sources that also reflect local, state and federal incentives, subsidies, and utility rates.

Eastern Illinois University was the first to test the Scorecard. It found that biomass and wind power were the most viable options. What's more, the Scorecard found a large amount of available biomass right in EIU's area. EIU is now planning to break ground in 2009 on a biomass power plant to replace an old coal-fired one.

Innovations like this one reflect the mainstream respect renewable energy has earned. With enough
companies and cities making the switch to cleaner, more efficient technologies, they're also creating a new demand for the infrastructure and tools to help them get there.

Honeywell and Forbes

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