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At the end of February, the New York Public Service Commission (PSC) released its final decision in Phase One of its Reforming the Energy Vision (REV) docket. We applaud the commission’s efforts to address 21st-century energy service needs and the improvements in this decision compared to the initial straw proposal.

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 economic benefits of energy efficiency extend far beyond lowering energy bills for consumers. Efficiency also contributes to economic development and job creation. But who benefits most from these economic opportunities? At every step of the economic value chain produced by efficiency investments (see figure below), there are opportunities to target the economic and social benefits to those households, businesses, geographies, or sectors for whom they will make the biggest difference.

NOTE: This blog article revises and updates a previous entry.