Does Daylight Saving Time Save Us Money?


 

Daylight saving time has arrived again this year. The hands were moved on the night between Saturday 30 and Sunday 31 March and the new time will remain in effect until the night between 26 and 27 October 2024, when we will return to solar time.

 

What does this mean concretely?

This transition, in essence, gives us an extra hour of light every evening.
In fact, the introduction of daylight saving time was designed specifically to promote energy saving.

The goal is to make the most of natural light in the workplace to reduce consumption.

Between March and October we have much more light available, since the sun rises earlier and sets later. By moving the hands forward, the hours of light are able to cover a greater number of hours intended for human activities, bringing both economic and environmental benefits.

 

In recent years, also as a result of the sharp increases in energy prices, there has been a long discussion about the opportunity to make daylight saving time permanent, with a view to well-being, savings and sustainability.

 

A debated topic

Although opinions on the subject are divided, several studies seem to confirm that daylight saving time can actually lead to significant energy savings.

According to data from Terna, the operator of the Italian high-voltage transmission network, in 2023 during the daylight saving time period, a saving of around 220 million euros was recorded thanks to the reduction in electricity consumption. A decrease of 200 thousand tons of carbon dioxide emissions into the atmosphere was also calculated.

Based on these estimates, many argue that extending daylight saving time to the entire year would bring significant advantages in terms of savings.

On the other hand, continuing to switch from daylight saving time (with longer days) to solar time (with shorter days) allows us to bring our rhythms of life closer to the natural length of daylight hours.

Just as keeping daylight saving time in the summer and spring months allows us to take advantage of natural light, returning to solar time when the days become shorter allows us to experience the first hours of the day without resorting to artificial lighting: we must not forget that many activities begin early in the morning.

 

Time change and consequences on health

However, daylight saving time has considerable consequences on our lifestyle habits.

Many people await it with joy because it allows them to enjoy more hours of light, extending outdoor activities during the summer.

Some, however, may suffer from it, experiencing sleep problems, tiredness, tachycardia.

The time change, whether towards daylight saving time or towards solar time, could have negative repercussions on health by causing an alteration of the circadian rhythm that would impact blood pressure and heart rate.

This is one of the reasons why, in addition to the attention towards a probable energy saving, petitions and movements asking to keep daylight saving time all year round are multiplying.

 

According to the OECD, financial literacy can promote the sustainable development of society by ensuring the financial well-being and economic stability of individuals, families and businesses. In the belief that financially literate people are also aware citizens, the Museum of Saving supports its financial education programs with numerous activities dedicated to the theme of sustainability.

If you are interested in learning more about these topics, visit the website and read our blog.

 

 

April 3, 2024