How the retail giant's gamble to go green with gadgets can pay off big for you at home
On a chilly autumn afternoon in San Carlos, California, a young man wearing his Sunday best fresh from church services stopped by his local Best Buy store to shop for a new smartphone. What Casey Scott says he picked up instead was a package of energy-efficient LED lightbulbs and an enlightening message on smart homes.
"I heard these people talking about ways to save money [on electricity] and thought, why not?" said Scott. "If I can spend a few dollars to save on my PG&E bill this winter, then it's money well spent."
Best Buy is banking on people just like Scott to breathe new life into the somewhat ailing in-store electronics business and cast a new light on the electronics industry of the future.
"Best Buy can offer consumers a broader set of product options and help educate consumers on how they can be used," said Best Buy's home energy guru, Kris Bowring. "Energy saving will be the minimum component. Customers are saying, 'Help me do different things with these devices.'"
Scott was among a small crowd of Sunday shoppers who happened across a panel discussion being held inside one of Best Buy's new experimental home energy management learning centers. It's one of three such in-store departments in the nation, unveiled by Best Buy last Friday. On the panel, experts from environmental architects to green product designers joined with top brass from Pacific Gas & Electric to talk about ways to use technology to save energy, money, and the planet. The panel was moderated by the executive editor of Dwell magazine, which recently partnered with Best Buy on a special issue addressing sustainable design and energy solutions for the modern home.
The blue shirts are going green? Who knew?
Turns out, Best Buy has a long history of environmental stewardship; it's one of the world's largest recyclers of electronic waste. The company has also spent the last two years researching home energy technology as a way to grow its traditional consumer electronics business.
"The goal... is the bring energy technology to life for consumers, to create an immersive environment where they can come in and learn about a range of solutions around energy and things that will make their lives better and more productive," says Neil McPhail, senior vice president of Best Buy's new business customer solutions group.
ThinkEco ModletAn experiment at going green
At the three new in-store show-and-tell centers in Houston, Chicago, and San Carlos, California, people now have the chance to go hands-on with the latest in-home energy gadgets. Devices on hand include new energy efficient appliances, thermostats that you can control from your iPad, and accessories for making other products more efficient, such as ThinkEco's Modlet retrofit outlet. The Modlet is one of several new devices on the market that cuts standby power to TVs, computers, and appliances when you're not using them. Some energy experts say this move alone (using a device that shuts off your idling gadgets) can save as much as $250 a year.
Another device at Best Buy, the highly touted Nest self-programming thermostat, promises to save people nearly $400 over two years, if used right.
In addition to smaller-scale green gadgets like LED lightbulbs (each bulb saves an average of $6 per year) and mid-size smart-home appliances, Best Buy will offer packages and bundle services like General Electric's Nucleus whole-house energy monitoring and control system and even perform inspections and installations for home electric vehicle charging stations.
Good for the planet and the company bottom line
CEO Brian Dunn recently said that Best Buy's goal is not simply to spoon feed society's obsession with gadgets (though he admits he's completely enamored with the hottest new tech toys himself), but rather to be "the consumer electronics industry's leader across the entire span of the lifecycle."
Of course, Best Buy's push into home energy comes at critical time in the company's own life cycle, as well. The huge overhead costs of oversized brick and mortar stores don't attract customers the way they used to, now that many shoppers simply go online to buy gadgets. No surprise then that the largest U.S. consumer electronics chain has struggled through four straight quarters of slumping sales, mainly due to its ailing television business. Looks like it's time to think beyond the TV.
Nest thermostat"Our role is to help consumers make the most of the technology in their lives," says McPhail, "and the Home Energy concept is our latest experiment that... can help consumers understand how to own, use and maintain energy-efficient technologies."
Best Buy's experiment is our gain
There's no doubt a good old low-tech set of homemade curtains hung inside drafty old windows can cut down on your energy costs too, as several friends point out when I tell them about this article. But I think Best Buy's experiment in home energy management is our gain, no matter whether you buy anything from Best Buy or not. This slight shift in corporate focus to more sustainable living seems like a good thing. Educating people on energy efficiency is also okay in my book. And any chance I get these days to learn new ways to save money... bring it on.
In addition to the new in-store centers, I like the way Best Buy's new online educational tools help you see what you can do for yourself as well. The site lays out personal plans based on savings potential, environmental benefits, and other plusses such as improved home comfort and air quality. While I'm no stranger to a caulking gun and elbow grease as a way to save electricity, I'm happy to let modern technology do a little of the work, too.
[Disclaimer: Tecca is in part funded by Best Buy]
This article was written by Jennifer Jolly and originally appeared on Tecca
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