WITHOUT electricity, society as we know it would cease to exist. It’s very hard to overestimate just how important electricity is to nearly every aspect of modern life, from keeping the lights on in a child’s bedroom to powering massive manufacturing facilities. For countries, then, securing adequate supplies of electricity is a paramount task. Reliable, abundant electricity enables a higher quality of life for citizens. It is also a prerequisite for creating economic growth.

There is a problem, of course. Electricity supplies are limited. Past and current efforts to increase supply and meet the demands of greater energy consumption have had a significant, negative impact on the environment. Our drive for energy is accelerating climate change and exacerbating environmental problems such as acid rain. Moreover, this problem is not confined within borders. It is a global issue that requires innovative responses from global leaders.

The term ‘global leaders’ is not restricted to politicians. Corporations also have a responsibility to balance opportunities for growth with the need to seek out eco-friendly paths to achieve that growth. And in some cases, corporations are better poised than many countries to tackle such a large-scale problem.

The Two Sides of Energy Consumption

In the past, it was assumed that an increase in economic growth would necessitate an increase in energy consumption. Important past events certainly seemed to bear this out.

The 1973-74 oil embargo was a prime example. When the Arab members of OPEC, as well as Egypt, Syria and Tunisia, stopped exporting oil to the US in retaliation for America’s support of the Israeli military, the market price of oil quadrupled. The American economy was sent into turmoil and the industrialized West followed suit. After two previous decades of growth, the US gross domestic product fell in 1974. The lesson seemed clear: less energy equals less growth.

However, while economic problems were the center of attention in the 1970s, events in more recent decades have shifted the spotlight to the environment. Climate scientists have rightly pointed out that economic growth is pointless if it comes at the cost of the planet we live on.

There is abundant data to demonstrate that our planet Earth is in trouble. A greater concentration of greenhouse gases has caused global temperatures to rise steadily over the past 150 years, at a rate of around 0.3 degrees Celsius per decade. Our dependence on fossil fuels has caused, among other things, a massive amount of sulfur dioxide and nitrogen oxide to be released into the atmosphere. While both of these gases do exist naturally, more than 90 percent of the former and 95 percent of the latter found in North America and Europe are of human origin. Because such high doses can be converted quite easily into sulfuric or nitric acid, these emissions result in outbreaks of acid rain that can cover vast distances and do significant damage to both plant and animal life.

To overcome these threats to the environment, alternative energy resources have garnered greater attention as of late. In particular, nuclear power is at the forefront of discussions. Since it produces far fewer carbon dioxide emissions, it doesn’t significantly affect global warming. The flipside is the risk. The incidents at Chernobyl and Fukushima provide ample cause for alarm and give environmentalists plenty of evidence to argue against using the nuclear option.

Meanwhile, multinational corporations have reached an interesting crossroads. While driven primarily by the need to make greater and greater profits in the past, the growing awareness of climate change has caused pressure, from both within and without, to be placed on corporations to become part of the solution rather than the problem.

Even more interestingly, a number of these corporations have come to the conclusion that becoming part of the solution does not have to come at the cost of profit. In fact, the opposite may well be the case.

Innovating the Management of Home Energy Consumption

Homes consume large amounts of energy. Each household has a collection of home appliances and digital services. It has been estimated that more than 25 percent of the world’s energy consumption is being used for the heating, ventilation and air conditioning (HVAC) as well as the lighting of residential and commercial buildings. Therefore, by concentrating on making this aspect of human life more efficient and less wasteful, there are significant gains to be made in protecting the environment. To achieve successes in this endeavor, technological innovations are crucial.

In this regard, the inverter air conditioner has been touted as a truly next generation air conditioner because of its impressive energy efficiency. When compared with conventional air conditioning units, inverter air conditioners take advantage of unique technological innovations that can control cooling and heating appropriately based on the ambient temperature. Through this, inverter air conditioners achieve strong performance levels while at the same time cutting back on the amount of electricity being used.

Among the major air conditioning companies to have released air conditioning products based on inverter technology, LG’s latest inverter air conditioners stand above the rest. LG’s latest inverter air conditioner is a great example of how very clever technology can make a significant difference. This year’s Dual Inverter has an industry leading Energy Efficiency Ratio (EER) rating of 13, Seasonal Energy Efficiency Ratio (SEER) rating of 13. This means the air conditioner has achieved high reductions in energy consumption, in this case by up to 53 percent over conventional air conditioners and previous models. This is made possible because LG has combined its technological know-how with a positive corporate philosophy of making the world a better place.

Traditional air conditioners consume a lot of energy while they operate. One of the ways in which the Dual Inverter reduces energy consumption is by delivering a superior performance in less time. Air is cooled down faster so that the required temperature is reached more quickly. Testing showed that the Dual Inverter could reliably decrease a room’s temperature by five degrees Celsius in just 3 minutes, a full 20 percent faster than non-inverter models. (Leaving aside the benefits of using less energy, this faster performance is also extremely convenient for customers!)

Faster cooling or heating is not restricted to small rooms. Even wider spaces can be climate controlled in shorter times. Customers get to feel better about doing their part to achieve more eco-friendly lifestyles, but they also get the enjoyment of seeing lower electricity bills each month. This is win-win. It also explains the appeal of LG air conditioning products, and by extension, it also explains how a multinational corporation like LG can put its focus on environmental protection while still pleasing company shareholders. — SG