Given its use for drinking, irrigation, sanitation and recreation, water has a tremendous impact on our physical and mental well-being. But water has a tremendous impact on our economic well-being as well. Just how tremendous is the focus of a new report by the U.S. Environmental Protection Agency, “The Importance of Water to the U.S. Economy.”

The report notes that because energy, water supply and food production sectors are intertwined and directly depend on water as a commodity, every part of the economy is susceptible to disruption from changes in water supply. It also noted that water is undervalued — and predicted that more accurate valuation could drive big changes in water use efficiency and sustainability. And while determining the exact economic value of water is nearly impossible, EPA sees both increased demand and increased value in the future. “Competition for water will increase as consumption rises, water quality decreases, and the impacts of climate change are felt,” commented agency acting assistant administrator for water Nancy Stoner in a blog post on the report.

What’s next in the quest to quantify the economic value of water? The report identifies various opportunities for further research and projects already underway, including a National Water Census tracking potential changes in water availability to guide future water management and decision-making. Article by John Sisser; photo by @Doug88888 (Flickr | Creative Commons)