The Effect of Global Warming on Water Resources

The effect of global warming on water resources has led to the increased cost of energy production leading to high price applications by energy suppliers to the consumers. The home electricity bills are increasing and the more the use of electricity within the home environment the higher the electricity bill at the end of the month. Developing a business venture that focuses on eliminating the cost of electricity for homeowners is a significant business opportunity with great potential. The major problem faced by homeowners involves increasing electricity bill despite the practices used to reduce energy use (Meyers et al., 2010). Innovative solutions to the problem of increased energy cost for homes should focus on eliminating various sources of energy wastage and replacing them with innovative technologies that lead to energy saving and ensure cost reduction. The fours innovative ideas for eliminating energy wastage at home include solar powered outdoor lights, insulating blinds, wind powered air conditioners and occupancy sensors.

Solar Powered Outdoor Lights

Outdoor lights for security are always on during the night making a primary source of increasing electricity bill for homes. However, replacing the electric based security lights with solar powered security lights will be significant for reducing the cost of electricity (Meyers et al., 2010). The core innovative features of the solar powered outdoor lights involve the creation of an automatic light sensor to differentiate between day and night. The automatic switch will be important to ensure the outdoor or security lights are charging within the day and operate at night. Additionally, the installation of an internal power saver battery in the outdoor lights will ensure they capture as much energy and store for future use whenever there is no sun for prolonged periods of time. Solar powered lights provide an economic benefit based on saving the money that would otherwise be used to pay the electricity bill. The application of low prices and providing a 10 year durability for the solar powered lights will be the core competitive advantage stance for selling the product. The combination of affordability and durability increase appeal to the consumers leading to achieving high profits (Nguyen & Gizaw, 2014).

Insulating Blinds

Another source of increased electricity bill in homes involves the installation of air conditioning appliances that operate for long periods during the day to regulate room temperature. However, elimination of high room temperatures in the house will ensure homeowners save money on buying air conditioning equipment as well as reducing electricity bill leading to energy saving. The installation of insulating blinds provides an effective means of regulating room temperatures. The innovative feature of the insulating blinds involves the use of tube-shaped air cells. The air in the cells does not conduct heat and creates a layer between the window and the room that blocks or filter light into the house. The insulating blinds are long-lasting than the air conditioning equipment that requires replacement due to technical failures of breakages. Hence, the insulating blinds use value as a means of achieving competitive advantage. It provides a permanent solution by replacing air conditioning equipment leading to high need by the consumers. Value is an important aspect of influencing consumer purchase behaviors in the market (Nguyen & Gizaw, 2014).

Wind Powered Air Conditioners

Similarly, to the application of insulating blinds, the wind powered air conditioning system is important for replacing the electric appliances in the home used to regulate air temperature. The installation of the wind powered air conditioning provides the opportunity to avoid electricity bills based on using natural means of temperature regulation in the home. Investment in innovative solutions leads to the elimination of energy waste through avoiding utility bills and create increased economic benefits to the users (Fuller, 2010). Therefore, the wind powered air conditioning will ensure economic benefits to the home owners by eliminating the electricity bills leading to savings. The innovative feature of the wind powered air conditioning involves the use of air passing through the room ventilation to regulate the room temperature. Therefore, they are installed at the ventilation areas and as air passes through they rotate to regulate room temperature. The unique nature of the technology will provide a competitive advantage for increased sales.

Occupancy sensors

In most cases, people forget to close lights when they leave the building. However, the room occupancy sensors will ensure lights are on when people are at home and off when there is nobody in a room. The innovative feature of the technology involves using passive infrared sensors to sense the presence of an individual in a room. The economic benefit of the technology involves a reduction in electricity bill by switching off unused lights in rooms. It is in human nature to forget, therefore, using that human disadvantage will ensure a competitive advantage of the technology in the market and increased sales for the product. Exploiting consumer weaknesses to provide solutions increase consumer purchase of a particular product in the market (Nguyen & Gizaw, 2014). Hence, the four innovative technologies, including solar outdoor lights, insulating blinds, wind powered air conditioners, and room occupancy sensors will be important to eliminate energy waste at homes and ensure savings for the homeowners.

References

Fuller, M. C. (2010). Driving Demand for Home Energy Improvements: Motivating residential customers to invest in comprehensive upgrades that eliminate energy waste, avoid high utility bills, and spur the economy (No. LBNL-3960E). Lawrence Berkeley National Lab.(LBNL), Berkeley, CA (United States).

Meyers, R. J., Williams, E. D., & Matthews, H. S. (2010). Scoping the potential of monitoring and control technologies to reduce energy use in homes. Energy and Buildings, 42(5), 563-569.

Nguyen, T. H., & Gizaw, A. (2014). Factors that influence consumer purchasing decision of Private Label Food Product: A case study of ICA Basic.