In a Congress that can’t find much common ground, industrial energy efficiency seems to be a key area of support. Today, Senators Bingaman, Snowe and Feinstein introduced the Expanding Industrial Energy and Water Efficiency Incentives Act of 2012 bill
(press release here), that if enacted will accelerate implementation of energy efficient practices and processes in the industrial sector. The benefit to the economy will be the savings of significant amounts of energy and potentially millions of dollars in energy expenditures by manufacturers across the country. This comes on the heels of the introduction of the Energy Savings and Industrial Competitiveness Act, which was introduced by Senators Jeanne Shaheen and Rob Portman, and the increase in funding in the FY13 appropriations for the Department of Energy’s Advanced Manufacturing Office.
ACEEE feels that the five tax provisions represent important measures that would advance energy efficiency, in spite of their apparent limited scope.
These provisions will provide an important short-term boost to new and underutilized energy efficiency technologies to help establish them in the marketplace. Enacting legislation like Expanding Industrial Energy and Water Efficiency Incentives Act of 2012 is critical for the country to continue to realize more energy efficiency opportunities for industrial energy efficiency so the country can move more quickly to cleaner and cheaper energy resources and enhance the competitiveness of our manufacturing sector.
Ethan Rogers contributed to this blog.