The Future of Energy Efficient Vehicles + (Infographic)
Flying cars were expected to be the future by 2000; despite erroneous expectations, cars have become radically advanced within recent years. Cutting-edge technology has prompted the birth of the car of the future due to anxieties of energy efficiency and rising pollution.
By 2025, all new U.S. vehicles must be equipped with a 55mpg+ fuel range. To contend with new fuel regulations, each year a car must be 5% more fuel-efficient. The price at the pump is expected to increase 25% by 2025; presently, the average vehicle gulps an annual average of $1700. Future hybrid & electric vehicles may cost $2400 more, but consumers will save $8200 in additional expenses.
Plug-in vehicles (PEV) or electric vehicles (EV) are gaining in popularity, but critics cite inflated prices, shortage of fueling stations, and limp technology advancements as probable disappointments. Despite the EV knockers, the Tesla Model S recently earned Car of the year for 2012 by Automobile Magazine and received Motor Trend’s Car of the Year honors in 2013. Cadillac, BMW, Audi, and Honda are soon to follow in the EV trend in 2014.
Alternative fuels are the clean fuels of the future: liquid petroleum gas (LPG), ethanol, biodiesel, and natural gas. LPG and natural gas are undoubtedly promising; these domestic fossil fuels yield less toxic pollutants and greenhouse gases. Biodiesel, unlike its petroleum counterpart, originates from vegetable oils and animal fats. Corn and other domestic crops create ethanol. The government promotes these unorthodox fuels with alluring tax incentives to qualifying consumers.
House Bill 2453 may leave an unpleasant taste in some consumer’s mouths after it is passed. This tax, to be blunt, fines individuals to drive an electric vehicle. This gas tax would be aimed at 2015 or later vehicles, with 55 miles/gallon or more. A little background information: 60% of state projects are funded by taxes on gasoline. Thus, states are collecting less tax money because of existing and future electric and hybrid vehicles. Point blank, the fee would be 1.56 cents per mile.
These destined energy efficient vehicles could conceivably constitute 65% of the market in 2025. Consumer demand, credits, and government incentives will determine the car dealership of the future.
Energy Rebates Exponentially Increase ROI
To encourage customers to conserve electricity, energy providers across the country are offering their customers some very generous special offers, such as rebates on qualified insulation products. This is one green-friendly program that can save a company significant green-backs for years to come.
UniTherm Insulation Systems is here to help you “green your machines” by providing insulation products for the plastics industry. Our insulation blankets are high return, low investment insulation solutions that can lower your energy bill, protect your employees and lower the ambient air temperature in your facility. With off-the-shelf blankets and the ability to custom design to meet any company’s insulation needs, (altered with slits, cutouts, and/or other augmentations) we make it easy for you to make significant strides toward greening your organization and lowering your monthly electric bill.
SMR saved $17,297
Many have already cashed in on their energy provider’s current discounts and rebates, like Samvarhana Motherson Reflectec, a member of Samvardhana Motherson Group, who recently saved 55% on the purchase of insulation blankets for their largest injection molding plant that houses 45 machines ranging from 250 to 1,000 tons. Their total savings: $21,250.
96% of Purchase Reimbursed
Another Michigan-based company was faced with the too common concern of spiraling energy costs and needed a way to reduce its environmental footprint for the five 2,000 ton injection molding machines the company uses, but didn’t want to break the bank in the process. After learning of the special rebate from their energy provider the injection molding company decided to purchase qualify insulation products, a decision that will continue to save them money for years to come. Their rebate totaled $15,075, saving 96% on the total purchase.
Mold Masters Company Received $21,725 in Rebates
Heat loss costs organizations hundreds of thousands of dollars annually, but can be prevented with the proper insulation system. With the increased concern for more energy conservation, many companies, like Mold Masters Company in Lapeer, Michigan, will want to take advantage of one of these generous offers provided by energy utility companies all over the country. As a leading manufacturer of thermoplastic parts for the auto industry, Mold Masters Company needed to insulate their entire facility of 40 machines. Ranging in size from 85 tons to 2,450 tons, their rebate totaled $21,725. Mold Masters Company only paid $11,794 out-of-pocket for their $33,519 worth of insulation blankets.
So do these insulation blankets actually work? The answer is yes. Just ask Prism Plastics, who needed their 220 ton Sumitomo machine insulated. According to St. Criox Electric, their energy savings totaled 39.24%. Samvardhana Motherson Reflectec (SMR) is now saving 13.6% on their energy bills for their entire facility – and they expect to save even more in the summer months.
UniTherm insulation blankets have a typical pay-back in as little as 12 months. Add a big-bucks savings rebate from your energy provider and that time frame is significantly decreased to 3 – 4 months or less. You’ll continue to save year over year for the life of the blankets – making the ROI higher and faster than any other energy savings programs you can implement in your facility.
Typical incentive programs differ from state to state and company to company, but on average the offer is $1 per ton on blankets for injection molding, extrusion, blown film, and blow molding and $10 to $30 per linear foot on insulation for pellet dryer ducts (making your out of pocket costs about 50% less on machines and 90 – 120% less on dryer hose insulation).
To find out if your provider is offering a rebate program just give them a call. Be sure to check the details for specific machines and purchasable products.
Companies who have already cashed in on this incentive are doing their part to reduce energy consumption and are moving the savings straight to their bottom line.
Our sales representatives are here to help you start saving.