The Israeli Ministry of Energy announced on Sunday the launch of an energy efficiency program at the state's universities and colleges, in collaboration with Israel's Council for Higher Education (CHE).
The cost of the program is 4.4 million new shekels (1.24 million U.S. dollars), the ministry said.
The program follows annual energy consumption data which shows that energy consumption in Israel's leading academic institutions is very high, amounting to tens of millions of new shekels a year.
"Through smart investment in the short term, it will be possible to optimize the institutions' energy systems, bringing about significant budgetary savings in several years," the CHE said.
"An academic institution serving thousands of students is a significant energy consumer, which through this program, can save current expenses and help promote a cost-effective energy economy," said Israeli Minister of Energy Yuval Steinitz.