Whirlpool Corp. Study Illustrates How Energy Efficient Appliances Can Help Low-Income Families Lower Their Utility Bills

Rhea-AI Summary

Whirlpool Corp. (NYSE: WHR) partnered with Habitat for Humanity International on a study showing that low-income households can save an average of 20% on their annual energy costs by using energy-efficient appliances. Between 2018 and 2020, donated Whirlpool appliances saved about 5.4 million kWh, equating to $624,000 in total electric bill savings. Whirlpool has donated over 100,000 energy-efficient appliances and committed $130 million to Habitat's initiatives over their 23-year partnership, recently expanding support for housing rehabilitation and climate-resilient construction.

Positive

• Potential 20% average reduction in energy costs for low-income households using energy-efficient appliances.
• 5.4 million kWh energy savings from Whirlpool's donated appliances, translating to $624,000 in electric bill savings.
• Over 100,000 energy-efficient appliances donated to Habitat for Humanity over 23 years.
• $130 million committed to Habitat for Humanity's initiatives.

Negative

• None.

BENTON HARBOR, Mich., April 28, 2022 /PRNewswire/ -- 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."

About Whirlpool Corporation:
Whirlpool Corporation (NYSE: WHR) is committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home. In an increasingly digital world, the company is driving purposeful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and Yummly. In 2021, the company reported approximately $22 billion in annual sales, 69,000 employees and 54 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.

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SOURCE Whirlpool Corporation

FAQ

What did Whirlpool's recent study reveal about energy savings for low-income households?

The study indicated that low-income households could save an average of 20% on annual energy costs by using energy-efficient appliances.

How much energy did Whirlpool's donated appliances save according to the study?

Whirlpool's donated appliances saved approximately 5.4 million kWh, leading to about $624,000 in electric bill savings.

What is the total amount Whirlpool has committed to Habitat for Humanity?

Whirlpool has committed over $130 million to support Habitat for Humanity's initiatives over 23 years.

What new initiatives has Whirlpool expanded with Habitat for Humanity?

Whirlpool expanded its support to include housing repair, rehabilitation, new home construction, and advocacy for affordable housing.