Research Says $1.5 Trillion Could be Saved with Efficient Usage of Space

by | Nov 14, 2017

Philips Lighting has released research saying businesses around the world could realize savings of up to USD 1.5 trillion in reduced rental costs alone if their office buildings were refurbished to the most efficient standards of today.

The report, published in conjunction with World Green Building Week, says using energy efficient appliances and lighting — along with smart technologies — firms can cut the office space required per employee by up to 50% while also improving employee wellbeing.

As reports, the findings by Philips are based on insights from consultancy giant Deloitte’s move from The Chrystal Tower in Amsterdam to The Edge building, widely billed as the world’s greenest office space. Deloitte cut office space from 50.2 square feet per full time employee to 24.9 square feet through the move.

The Edge uses smart technology such as a connected LED lighting system from Philips Lighting that enables employees to adjust their lighting and temperature at their workspaces via a smartphone app, but also provides building managers with real-time insights on how the office is being used to help maximize operational efficiency. These insights are derived by the analysis of data collected by sensors embedded in the lighting.

The report says the largest potential savings lie in Asia Pacific, where $977 billion could be saved in rent if offices were refurbished in line with best practice. Europe could realize annual savings of $243 billion and North America could save $220 billion, Philips said.

LEDs in the News

Savings generated through LED use has been reported on heavily recently. In October, Officials in West Haven, Connecticut, announced the town will save $338,000 per year in electrical costs as a result of switching to LED street lights. United Illuminating, an electric distribution company, is replacing the existing high-pressure sodium streetlights — at no cost to the city — to provide a more energy-efficient, cost-effective product.

And just this month, Mariner’s Point Golf Center in Foster City, California, announced it will install high-performance Simply LEDs lighting throughout the course. SimplyLEDs luminaires will replace metal halide lighting throughout the course, driving range, practice greens, and parking lot, reducing energy consumption over 70% while enhancing end-user experience.

Vendors mentioned in this article:

  • Philips Lighting
  • United Illuminating
  • SimplyLED

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