Providing safe, clean water for people and agriculture is one of humanity’s most important challenges. It’s also a significant business opportunity. According to research, companies that manage water resources responsibly earn premium valuations from investors. This is especially true for those that reduce energy consumption, which lowers the demand for water-based power plants and factories.
It is a fact that water conservation saves money. Many American households can curb their water use by 14 percent — which is significant considering how much they pay for every gallon of water delivered to their homes. Fixing leaky toilets, taking shorter showers, and using ENERGY STAR-certified appliances make an impact. Utilities that invest in their water infrastructure perform better overall than those struggling to do so.
Cities that support well tend to have strong operations and low levels of debt — which is why many utilities embrace developing public-private partnerships that can help spread financial risk, increase expertise, and jumpstart infrastructure investment. The resulting cost savings can help keep water rates low for customers. The average household water savings equates to the amount of water that could supply 35 households for a year.
For many homeowners and farmers, saving water allows them to put more water back into aquifers, streams, springs, lakes or rivers for environmental, agricultural or other uses. This helps keep the water supply clean and free of pollution. The savings in energy and water bills that result from water conservation also help reduce household expenses.
Also, consider building a pond construction for your home to increase its curb appeal. In addition, the less water that flows through sewage systems, the less likely it is to pollute our rivers and lakes. Rising water costs pose challenges for utilities nationwide. In some cities, a unique set of environmental, social and economic factors has made balancing infrastructure needs difficult. Water utilities may have to locate infrastructure pinch points, create customized strategies, and explore various financing tools.
Reduce Greenhouse Gas Emissions
With a growing population and climate change putting a strain on water supplies, it’s vital to reduce waste. Saving water cuts energy use, which in turn cuts greenhouse gas emissions.
Companies are investing in water conservation services for their business operations. Their efforts save money on water and energy costs, which can be invested in longer-term sustainability upgrades to save even more water and energy. In addition, improved water supply and sanitation create new economic opportunities for cities and countries.
These investments are more than just costs and are critical to eradicating poverty and enabling sustained economic growth. Water conservation practices also boost economies by making them more resilient to rainfall variability and reducing costs associated with water shortages.
Increase Property Value
Water conservation not only reduces strain on a building’s water utility costs and cuts pollution, but it also increases property value. According to the Environmental Protection Agency, buildings that undergo a water conservation program can see property values increase by as much as 30%. Increasing property value is one of the biggest reasons multifamily properties and other commercial real estate firms implement water conservation plans.
These facilities can generate more net operating income (NOI) by lowering utility bills, attracting new residents, and increasing marketability. In addition to its positive economic impact, investing in water productivity is a great way to diversify your portfolio. This is because, like oil and gold, water is a commodity that is becoming scarcer and more expensive.
Increase Employee Satisfaction
Businesses that use a lot of water benefit from efficient systems that conserve resources, reduce waste and save money. This may be as simple as a regular audit of methods to find leaks or metering to track usage over time.
Companies can also recycle water and reuse wastewater. This is a way to reduce environmental impact, lower industrial costs, meet regulatory requirements and combat climate change. Water recycling processes recover and clean sewage to be used again for washing equipment, cooling systems or operating machinery.
Investing in improved water supply and management directly benefits billions of people through increased health, averted medical costs and time saved. It also boosts productivity across economic sectors, helping to lift billions out of poverty and drive sustainable economic growth.