Trending Assets
Top investors this month
Trending Assets
Top investors this month
The European energy crisis is boosting adoption for alternative appliances
Washing machines and drying machines, whether made by $WHR $GE LG, or any other manufacturer, are energy intensive. Sure, the energy consumption on the newer models is much less compared to the older models, but they still consume tons of energy.

Soaring electricity costs are encouraging Europeans to buy electric drying racks. At first glance, I never heard of an electric drying rack. As I did research on how they work and the benefits of using them, I was amazed to hear that (source):

  • they dry clothes 62% faster than drying machines
  • they're great for drying specialty and delicate clothes
  • no lint
  • uses 24X less power than your average dryer

According to a review by BusinessInsider, the electric drying rack is saving them a small fortune on their energy bill.

Outside of drying clothes, they're buying other energy-efficient appliances for the kitchen like air fryers (which can replace your oven, in most but not all cases), pressure cookers (which are also seen to replace ovens), and possibly the Tupperware MicroPro Grill (this innovation allows people to grill food in a microwave, which can greatly help Europeans save on energy while cooking them delicious food, which is probably why Tupperware insiders keep buying the stock).

And there's Greece, who's providing subsidies to people to switch out their old fridges and HVAC machines for newer ones. And there are concerns over how grocery stores can preserve food during the energy crisis.

There are concerns that as people switch out their gas-powered appliances for those that use electricity and use energy-efficient electrical appliances simultaneously, the power grid in various European nations will struggle to provide power throughout the winter. With little to no sun, the many solar farms that European nations built since the war began won't be producing energy. The wind farms will meet some of the energy demand, as long as the wind keeps blowing. Utility companies will be using the fuel from the storage facilities and will try to be conservative about the usage of that gas so that they can make it last through the entire winter. Gas imports will be difficult as the rest of the world endures an energy crisis.

Overall, the energy crisis has pushed people to adopt other innovations that can reduce their reliance on ovens, drying machines, and other appliances. Many of these innovations that I've mentioned are things people buy to help them adapt to living in a small apartment where there's no washer/dryer and because of this energy crisis, people that live in more spacious residences are buying those innovations. And if there are no innovations to replace certain appliances, then people adopt habits that reduce their energy usage.

This crisis is inspiring entrepreneurs to create innovations that can help us become less reliant on our big, energy-hungry appliances. VCs are probably working to find those startups that are making those disruptive "alternative appliances' because those startups are probably thriving while the rest of the world endures an economic slowdown and will maybe enter a recession.

The energy crisis of the 1970s inspired Americans to adopt and build energy-efficient cars. The energy crisis of today is inspiring Europeans to adopt energy-efficient appliances.
OilPrice.com
How Millions Of ‘Cheap’ Electric Heaters Could Crush Germany’s Power Grid | OilPrice.com
With Nord Stream 1 supply completely cut off, Germany is facing a tough winter despite its high level of natural gas storage levels

Related
Already have an account?