Local and federal governments have taken notice that the waste collection industry is in desperate need of new and improved waste technologies. While many companies with emerging solutions continue to seek funding from private investors, government funding could provide the budgets that would enact sizable change in the industry. Funding will be essential, yet the allocation of funding to the correct solutions will be paramount in continuing the increase of government funding for new waste technologies.
One example of government funding geared toward boosting new waste management technology can be found in South Africa, where the Department of Environmental Affairs has created the Green Fund. This fund has been founded to finance new, green technologies that will contribute to a low-carbon, resource efficient and climate resilient growth path. The Green Fund comes with a budget of 800 million Rand, and one of its focus areas will be sustainable waste management and recycling.
Green fund logo
Another example of government funds being allocated to new waste management technologies can be found in Australia, where the Victorian Government has established a $2 million program to support innovative waste and energy technologies. This program will primarily focus on waste-to-energy technologies that aim to steer waste away from landfills. The government expects to find more ecologically friendly ways to dispose of their 300,000 tons of annual food waste.
According to Forbes, the waste management industry is due to receive $42 billion in funding through the year 2023. This funding should improve the processes of waste collection, processing, energy recovery, and disposal. Some of the funding for the waste collection industry will be allocated to companies who are creating a smart residential and commercial waste collection routes by placing sensors on garbage bins that signal the best pick up times.
For Govt money turn left
While waste collection processes could undoubtedly be improved some skeptics fail to see how placing sensors on every single garbage bin will cut down on the lost energy that haunts the waste industry. Other companies such as GreenQ take a different approach by placing data harvesting devices on garbage trucks instead of sensors on cans. These systems will also optimize waste collection routes, yet the solution will cost much less, as there are far fewer garbage trucks than bins. Smart Truck solutions may be the cure to the trauma caused by the failure of bin sensors to this point.
As government funding for new waste management technologies continues to increase it will be important for local and state governments to allocate their funds appropriately. While some solutions may appear to have energy-saving benefits, the operation and implementation of specific solutions may consume more energy than they save. Nevertheless, the rise in government funding will be instrumental in causing significant improvements in the waste collection industry.
https://greenq.gq/wp-content/uploads/2018/01/govt-funding-2.png15601559nadavhttps://greenq.gq/wp-content/uploads/2016/12/logo-new.pngnadav2018-01-25 14:18:102018-01-25 14:18:10The Rise of Government Funding for New Waste Management Solutions
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