Washington D.C.—At a congressional hearing today, Steven Nadel, executive director of ACEEE, said that “states are stepping out and leading energy efficiency efforts in the United States as a way to save energy, lower consumer bills, and promote economic development.”
In his testimony, Nadel noted that there are large opportunities for cost-effective energy efficiency investments, investments that can aid economic development by:
- Creating direct jobs from manufacturing and installing energy efficiency measures;
- Reducing energy bills for consumers and businesses as energy use declines;
- Suppressing prices in wholesale energy markets as the law of supply and demand affect these markets; and
- Creating indirect and induced jobs as these direct impacts ripple through the economy.
Nadel provided specific examples from studies on energy efficiency programs in California, Ohio, and the Northeast. He also discussed growing energy efficiency activities in multiple states, including Mississippi, Oklahoma, and Arkansas. Nadel concluded by discussing the results of a recently published ACEEE analysis, which examines energy savings opportunities and economic development benefits in each of the 50 states. The analysis finds that every state can use energy efficiency to boost economic development, with job gains of more than 600,000 possible nationally, along with nearly $50 billion in net economic benefits, by 2030.
To read the testimony, visit: /testimony/nadel-house-072414