Business in brief: Light bulb change is paying off
Compact fluorescent light bulbs are putting a dent in the Northwest’s electrical use.
Nearly 19 million of the curlicue bulbs have been sold in Washington, Oregon, Idaho and Montana, according to a recent report by the Northwest Power and Planning Council. The bulbs use about 75 percent less energy than a standard incandescent bulb.
The savings from 19 million bulbs is enough to power a city of 55,000 people – such as Port Angeles or Idaho Falls, according to the report.
Last year was a banner year for electrical savings in the four Northwest states, according to the NWPPC.
About 1,750 million kilowatt-hours of electricity was saved through a variety of energy efficiency upgrades by homes and businesses. That represents about half of the typical annual growth in electricity use in the Northwest, or enough energy to power about 146,000 homes.
Amid rising energy costs, people are looking for ways to reduce their use and lower their bills, said Bill Booth, a Hayden Lake resident who chairs the planning council.
“Our region does quite well on conservation,” he said. “It’s an outdoor region. People like the environment, and they want to keep it the way it is.”
Energy conservation programs are funded by utilities, which spend about 1.25 cents on each kilowatt hour of electricity saved. That’s cheaper than new wind power, which costs about 7.5 cents per kilowatt hour, or electricity from gas-fired plants, which costs about 6.3 cents per kilowatt hour, Booth said.
Investment fund benefits veterans
Investors now can have their money support members of the armed services through Veterans Family Fund of America, an independent, nongovernmental organization created by local residents to help Washington veterans, particularly those who have served in the Afghanistan and Iraq wars, and their families.
Veterans Family Fund provides a way for investors to help servicemen and women in Washington by purchasing an insured six-month CD that directs half of its earned interest to benefit veterans and their families. Investors receive the other half of the interest and a tax deduction for their contribution.
The Veterans Family Fund certificate of deposit in Spokane County was introduced this week.
The Washington state Department of Veterans Affairs will identify veterans and families in need, and the agency’s Veterans Innovations Program will disburse funds. All veterans of U.S. military services living in Washington and their families are eligible for support.
A minimum investment of $100 is required to open a Veterans Family Fund CD. There is no maximum.
Participating banks are Banner Bank and Inland Northwest Bank, and participating credit unions are Global Credit Union and Washington State Employees Credit Union.
Veterans and their families will receive nearly 100 percent of donated funds. Participating financial institutions and public and private grants will underwrite the program’s administrative costs.