Even with many innovative measures in place to help conserve energy, the U.S. still wastes more than half the energy it produces because of inefficiency.
The Georgetown University Energy Prize enables communities through financial opportunities, education and technical resources to help develop new measures that will create far-reaching benefits that will last into the future. Fort Collins is participating in the two-year energy efficiency competition with the goal of doubling the City's energy savings in 2015 and 2016. So, if Fort Collins won, what would the City do with the prize money? To clarify, the City couldn't just spend the money any way it chooses – there are restrictions for use of the $5M prize money:
- It must be spent on energy efficiency programs that reward the community as a whole and provide for the long-term implementation of those plans.
- Prize money cannot be given to individuals. For example, it cannot be used to reduce taxes or for items that aren't related in some way to energy efficiency.
Fort Collins would use the $5M prize money to advance community energy efficiency. The City would also collect input from the community in various ways to ensure that the money is being used in ways that the community desires.
In the meantime, how would you like to see the money used to improve Fort Collins' energy efficiency? Let us know in the comments!