SOURCE: Whirlpool Corporation
DESCRIPTION:
Whirlpool Corp. (NYSE: WHR) recently collaborated with Habitat for Humanity International to produce a study that demonstrates the potential savings low-income households may save with the use of energy-efficient appliances.
The Donated Product Energy Efficiency study, which captured energy use of donated ranges and refrigerators in Habitat homes between 2018 and 2020 across Habitat’s U.S. affiliated network, is part of Whirlpool Corp.’s House+Home initiative, a cornerstone of its corporate social responsibility.
A key finding is the potential for an average reduction of 20 percent in annual household energy cost attributable to energy-efficient refrigerator and range use. Appliances donated by Whirlpool Corp. during the study period generated approximately 5.4 million kWh in energy savings, for an estimated total electric bill savings of $624,000. These results indicate that use of energy-efficient appliances may improve economic outcomes for low-income households.
“When we talk about housing affordability, it’s important not only to factor in mortgage costs but also consider the daily operating costs of the home as well as maintenance and repairs,” said Adrienne Goolsby, senior vice president of US and Canada for Habitat for Humanity International. “We want to change the narrative that energy-efficient and hazard-resilient homes are a luxury item. They aren’t and should be recognized as a standard and necessary way to achieve long-term home affordability.”
Over the course of the organizations’ 23-year relationship, Whirlpool Corp. has donated more than 100,000 energy-efficient appliances to Habitat for Humanity and committed over $130 million in funding to the global housing nonprofit’s work around the world.
Whirlpool Corp. recently expanded its relationship with Habitat for Humanity to include support for more repair, rehabilitation and new home construction projects around the world, sponsorship of Habitat global housing forums, increased engagement in Habitat’s Cost of Home advocacy efforts, and the BuildBetter with Whirlpool initiative which supports construction of 250 climate-resilient, energy-efficient homes over a three-year period.
“At Whirlpool Corporation, we are in constant pursuit of improving life at home, which is why we have made our relationship with Habitat for Humanity International a priority for 23 years,” said Sr. VP of Corporate Relations and Sustainability Pam Klyn. “We are excited about our strengthened relationship, increasing accessibility to affordable housing, and creating a more sustainable world.”
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KEYWORDS: NYSE: WHR, whirlpool
