Washington, D.C.—Well-targeted energy efficiency tax incentives will result in significant energy savings and will get more energy-efficient products into the market faster, according to Steven Nadel, executive director of the American Council for an Energy-Efficient Economy, who testified before the U.S. Senate Finance Committee today. The Senate hearing focused on appropriate uses of the federal tax code for promoting investments in energy efficiency, particularly in the context of emerging discussions on tax reform.
The impact of investments in energy efficiency extends well beyond reducing energy costs or addressing the environmental impacts of energy extraction and use. These investments provide jobs for American workers and help them to support their families and communities.
First International Energy Efficiency Scorecard of 12 Major Economies Also Finds Germany, Italy, and Japan Ranking Highly; U.S. Behind Most Countries, Including China, France, and Australia.
Although Congress has been unable to pass comprehensive energy and climate legislation so far, there is hope for energy efficiency legislation in the not-too-distant future. Energy efficiency is cost-effective and has the potential to give the economy a boost. And importantly, energy efficiency has bipartisan support.