Cryptocurrencies found to use more electricity than individual states, countries


Via Flickr.

Eleanor Hildebrandt | September 10, 2021

The cryptocurrency Bitcoin currently uses more energy than countries like Finland, which has a population of 5.5 million.

Bitcoin was invented back in 2009, and 12 years later, one would need a room full of specialized machines to mine a single Bitcoin. The process of mining one takes up 9 years’ worth of a typical U.S. household’s electricity bill. According to a New York Times article, this currency’s network uses the same amount of electricity as the state of Washington. The state has 7.6 million residents. In comparison to the search engine Google, Bitcoin uses seven times as much electricity. Google has several locations across the globe.

While all cryptocurrencies are strictly digital and exist only electronically, Bitcoin is adding to the climate crisis by using power grids and fossil fuels and contributing to harmful emissions. The Environmental Protection Agency reports that nearly all pieces of an electricity system can affect the environment through greenhouse gas emissions and using up water resources to cool down systems and produce steam.

Since cryptocurrencies like Bitcoin are inefficient in transactions, they are also inefficient when it comes to the use of electricity. Bitcoin’s energy consumption fluctuates frequently, as its price ebbs and flows. Regardless of the cost of the currency, Bitcoin continues to contribute to excessive energy usage.

Report: EPA proposal could lead to lower utility bills for Iowans


(Brendan Wood/Flickr)
(Brendan Wood/Flickr)

Nick Fetty | July 31, 2015

Two recent studies find that the Environmental Protection Agency’s effort to reduce carbon emissions could lead to lower electricity bills for Iowa consumers.

Synapse Energy Economics conducted the first study which examined the projected economic impact of EPA’s Clean Power Plan. The study concluded that participation in energy efficient programs could save the average U.S. household $35 per month on electricity bills by 2030, with even greater savings for Iowa consumers.

“Iowa households taking advantage of energy-efficiency programs under the proposed Clean Power Plan would save $83 a month on average and their bills would be $41 a month in 2030,” principal economist Elizabeth Stanton told the Public News Service.

The other report, from the Georgia Institute of Technology, used modeling to predict that EPA’s plan would lead to lower electricity bills and could also lead to job creation and other economic benefits.

However despite the findings in the two studies, the Spencer Daily Reporter reports that Spencer (Iowa) Municipal Utilities general manager Steve Pick doesn’t expect the plan to have much of an impact on electricity bills for his customers. Pick cited that the two plants which serve Spencer are already up to efficiency standards so the plan wouldn’t change much. Pick added that electricity prices in Spencer are already the lowest in the state and again wouldn’t be affected by EPA’s plan.

The Clean Power Plan is expected to be finalized later this summer.

UI reminds students to “Power Down” over break


A flyer for the University of Iowa’s Power Down campaign. Download here.

KC McGinnis | December 17, 2014

With thousands of students and faculty finishing up the Fall semester, the University of Iowa is reminding the UI community to “Power Down and Unplug Over Break.”

The UI Office of Sustainability has forwarded a checklist to remind students, faculty and staff what electrical items need to be unplugged over winter break in order to reduce the university’s carbon footprint. Appliances like microwaves, LCD screens, printers and small refrigerators can use up substantial energy even when turned off, adding unnecessary expenses and increasing carbon emissions from power plants. The UI recommends these appliances and devices be unplugged, rather than turned off, whenever possible.

The UI also recommends turning down the heat over break, listing tips for cutting down on energy use, like opening south-facing blinds during the day. Doors and windows should remain closed whenever possible, and fume hood sashes in labs should be closed as well. Even power strips should be unplugged, since they can draw energy even when turned off or with nothing plugged into them.

Those who complete the UI’s power down checklist will be entered in a drawing to win LED flashlights.

For a helpful table showing how much energy various appliances use in power save mode, click here.

On the Radio: Energy efficiency under the Clean Power Plan


Compact fluorescent lamps are known for using energy more efficiently than traditional bulbs. (Adam/Flickr)
Compact fluorescent lamps are known for using energy more efficiently than traditional bulbs. (Adam/Flickr)

This week’s On the Radio segment looks at how energy efficiency and renewable energy will reduce power plant emissions under the Clean Power Plan. Listen to the audio below, or continue reading for the transcript.

Transcript: Energy efficiency under the Clean Power Plan

The U.S. Environmental Protection Agency’s Clean Power Plan aims to significantly reduce power plant emissions through energy efficiency and other renewable energy measures.

This is the Iowa Environmental Focus.

States will be given a considerable amount of flexibility for meeting the goals of the newly proposed Clean Power Plan. The EPA expects electricity bills for Americans to be reduced by roughly 8 percent in 2030 through improved energy efficiency for homes and businesses. Once implemented, the plan will set a global standard for responsible energy use and sustainability.

Coal, oil, and natural gas will continue to have a role in the American energy sector; however the Clean Power Plan aims to reduce the nation’s dependency on non-renewable and environmentally-damaging energy sources.

For more information about the Clear Power Plan, visit IowaEnvironmentalFocus.org

From the UI Center for Global and Regional Environmental Research, I’m Jerry Schnoor.