Non-profit Organization Provides Financing for Purchases of Energy-efficient Home Appliances

The Edogawa Citizens' Network for Climate Change, a non-profit organization in Edogawa Ward, Tokyo, has financed three purchases of energy-efficient home appliances in the Ward and surrounding areas since starting its program to support such replacement purchases in September 2003.

The program provides interest-free financing to families who wish to replace an existing older-type refrigerator with a newer, energy-efficient model. The organization provides an amount roughly equivalent to five years worth of electricity savings resulting from using the new, energy-efficient refrigerator.

One family received financing totaling 75,000 yen (U.S.$701) to replace an old refrigerator that consumed 825.6 kWh of power each year with an energy-efficient refrigerator that uses only 200 kWh per year. With the new refrigerator, the family's annual electric expenses attributable to refrigerator use dropped from 19,814 yen (U.S.$185) to 4,800 yen (U.S.$45). The new refrigerator will therefore result in 75,070 yen (U.S.$702) in energy savings over five years. The actual price of the new refrigerator was 100,000 yen (U.S.$935), meaning that in five years' time 75% of the cost will have been covered by savings on electricity bills.

Organization director Motohiro Yamazaki comments, "Energy saving is just like power generation in that it produces excess energy. These families are becoming 'power saving plants' which is a good thing." The organization has received six applications for financing thus far in 2004 and plans to provide such financing on a year-round basis going forward.

- Environmental NPO Starts Recruiting Monitors for Energy-Saving Fridges (Related JFS article)
http://www.japanfs.org/db/403-e

Posted: 2004/05/18 01:40:51 PM
Japanese version