Honeywell "scores" renewable energy

New Jersey-based Honeywell International (NYSE: HON) today introduced a selection tool to help North American customers make informed buying decisions regarding which renewable energy technology to implement.

Developed by Honeywell’s Building Solutions group, the group said the tool uses location-specific variables such as fuel availability, heating and cooling loads, utility rates, and rebates and tax incentives to help users identify the most applicable renewable energy solution, while providing the greatest return on investment.

The scorecard looks at six proven renewable technologies, including solar, wind, biomass and geothermal, and provides a payback for each, according to the diversified technology and manufacturing company.

Honeywell’s Building Solutions group stressed the importance of providing customers information on which renewable resource has the greatest potential, but also the importance of financial forecasting, including tax implications, rebates, subsidies and other incentives.

Honeywell stressed it currently works with customers to provide a 15 to 25 per cent savings on their energy bill on average through performance contracts which involve facility improvements and upgrades.

Honeywell claims that nearly half of its product portfolio is linked to energy efficiency.

Last year the company said it would supply its Enovate hydrofluorocarbon blowing agent to a Chinese appliance maker, while this year it said it would team with Airbus, JetBlue Airways and International Areo Engines to study the use of biofuels for comercial aircraft (see Honeywell to supply insulation agent to Hisense Kelon and Honeywell partners up to look at aircraft biofuels).