Many colleges across the country have developed a mindset that energy-efficiency is a valid investment – both for their budgets and for the environment – and the University of Vermont (UVM) is no exception, having recently implemented some significant environmentally friendly changes to its campus.

According to local news source the Burlington Free Press, UVM has recently converted to LED bulbs in its 1,300 outdoor lamps. This investment was funded by the university's $13 million green revolving fund, which was established in February.

"This is a showcase project for how organizations and electric utilities can partner to increase efficiency and reduce environmental impact," Richard Cate, UVM's vice president for finance and administration, said in a statement. "The green revolving fund gives us resources to continue investing in energy efficiency at UVM, but to do so in a way that's financially prudent and sustainable."

An article published by the National Science Foundation illustrates the advantages of LED bulbs, stating that by implementing them, people can save up to 85 percent of the electricity used by incandescent bulbs and between 20 and 50 percent of the energy used by fluorescent lighting.

UVM paid $225,000 for the new lighting, and it was able to save money thanks to the state's rebate offerings. The university expects to save $75,000 annually in electricity costs, meaning the project will pay for itself in in just three years.

Maryland residents hoping to make energy-efficient upgrades to their homes can also benefit from rebates and incentives, including those available from Pepco and Potomac Edison. To get started, schedule an energy audit with a home inspection contractor, and they'll help you determine the most effective ways that you can improve your property.