Provisions will save energy, protect the environment, save consumers money, create jobs
Washington, D.C. – July 31, 2015 – (RealEstateRama) — U.S. Senators Jeanne Shaheen (D-N.H.) and Rob Portman (R-Ohio) announced that their bipartisan Energy Savings and Industrial Competitiveness Act (ESIC) has passed out of the Senate Energy and Natural Resources Committee. The energy efficiency legislation has received widespread support from both Democrats and Republicans as well as industry leaders, energy-efficiency advocates and environmental stakeholders because it reduces pollution, saves consumers money and creates jobs. A targeted version of the bill, the Energy Efficiency Improvement Act of 2015, was signed into law by President Obama in April, making it the first energy bill to be signed into law this Congress.
“Energy efficiency is the cheapest, fastest way to address our nation’s energy needs,” said Shaheen. “Our bipartisan bill will accelerate the deployment of energy-efficient technologies, thereby reducing pollution while at the same time encouraging economic growth and job creation. This bill is an opportunity to build on the significant progress we made when the President signed into law our targeted energy efficiency bill earlier this year. I look forward to working with my colleagues on both sides of the aisle to pass this common sense energy efficiency legislation.”
“Our bipartisan energy bill will help bring American jobs back, help fix our trade deficit, help make our manufacturers more competitive, and actually help to protect the environment,” said Portman. “These provisions have garnered such widespread support because of a simple fact – it is good for the economy and good for the environment. Our bill also encourages the implementation of energy efficient techniques throughout our economy that could save taxpayers billions of dollars. I’m pleased it has advanced in the Senate and will continue to work to get it over the finish line.”
ESIC is also included in the broader Energy Policy Modernization Act of 2015.
The Shaheen-Portman legislation uses a variety of low-cost tools to help energy users become more efficient while making the country’s largest energy user – the federal government – reduce its energy use through the use of energy-efficient technology. The deficit neutral bill incentivizes the use of efficiency technologies that are commercially available today, can be widely deployed across the country, and quickly pay for themselves through energy savings. The bill incorporates provisions that will help the United States transition to a more energy-efficient economy while driving economic growth and private sector job creation.
A study by the American Council for an Energy-Efficient Economy (ACEEE) estimates that Shaheen-Portman will create more than 190,000 jobs, save consumers $16.2 billion a year, and cut CO2 emissions and other air pollutants by the equivalent of taking 22 million cars off the road – all by 2030.