Like the great river that is its namesake, Mississippi has been moving swiftly along on efforts to save residents and businesses money on their energy bills, and as a result is becoming a regional leader in energy efficiency. Governor Phil Bryant, the Mississippi Legislature, and the Mississippi Public Service Commission (MPSC) have all taken major steps recently to improve energy efficiency.
Energy efficiency took center stage last week when President Obama announced a series of steps the administration will be taking to address climate change. From increasing fuel economy standards on heavy duty vehicles to making commercial and industrial buildings 20% more efficient by 2020, it is gratifying to see energy efficiency have such a prominent role.
Energy Efficiency Programs and Policies Could Save Louisiana Residents and Businesses over $4 Billion
New Orleans Already Beginning to Lead State in Energy Efficiency Efforts, but Tremendous Savings for Residents and Businesses Still Untapped
Much of the equipment and production processes in America’s factories are decades old and not as efficient as modern equipment and processes in use by many of our international competitors. While some factories have been modernized, many have not. Modernizing these factories will allow them to better compete in world markets by improving product quality and reducing product costs, including savings through reduced energy use.
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.
Washington, D.C.—Today the U.S. House of Representatives passed a bill that takes several steps to advance energy efficiency in the United States. The American Energy Manufacturing Technical Corrections Act (H.R. 6582) modifies legislation that passed the Senate last month and returns to the Senate for final approval. “At a time that Washington is grid-locked, it is notable that the only energy bill with enough bipartisan support to pass is one that targets energy efficiency,” noted Steven Nadel, Executive Director of the American Council for an Energy-Efficient Economy.
As the nation begins to ponder tax reform next year, we have an opportunity to create a new corporate tax structure that encourages investments that benefit society, such as energy efficiency, as well as the businesses that make these investments.
The economy took center stage at times during this year’s presidential debates, but scant attention was paid to the manufacturing sector, which remains an important driver of economic growth as well as energy use. Evidence of a resurgent, domestic manufacturing sector has strategic implications for energy policy as well as the economy.
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.
There is substantial talk in Washington about tax reform being a key issue for 2013. Generally this is perceived to mean simplifying the tax code by scaling back tax deductions and credits, and using the money saved to both lower marginal tax rates and help lower the federal budget deficit. In such a climate, where do energy efficiency tax incentives fit in? Such incentives have been in place in varying forms since 2005, and several that recently expired may be extended at the end of this year.