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The American Council for an Energy-Efficient Economy (ACEEE) released a Report highlighting 16 energy efficient policies. Policies that remove market barriers across the economy to investments in energy efficiency.
The report, Overcoming Market Barriers and Using Market Forces to Advance Energy Efficiency , provides Congress and state policymakers with a road map to address national energy consumption through policies that could save the country approximately $1 trillion in energy bills and 19 quads in energy consumption.
The United States has made much progress in energy efficiency in the last few decades but there are still large, cost-effective opportunities available to advance efficiency even further, while improving the economy at the same time. However, a variety of market failures and market barriers contribute to keeping us from fully realizing our energy efficiency potential.
"Eliminating barriers that keep us from reducing waste is an approach both sides of the aisle can support," said ACEEE Executive Director Steven Nadel. "By removing these barriers, Congress and state policymakers have an opportunity to let smart investments help strengthen the economy while saving the nation billions."
The report discusses several targeted policies that leverage market mechanisms and address specific market failures to energy efficiency. Again and without requiring substantial spending or government mandates. For example, the development of a comprehensive building labeling and benchmarking program. For it could save approximately 1.6 quads of energy and $60 billion. That’s between 2014 and 2030.
Even more impressive are the benefits gained from adjusting corporate tax legislation to encourage the replacement of inefficient equipment. As well as from removing regulatory barriers to combined heat and power (CHP) projects. These two policies alone could reduce national energy consumption by 7 quads. Moreover save the economy close to $300 billion.
The report includes policy interventions targeted at residential and commercial buildings. Also the industrial sector and the transportation sector. That’s as well as a number of policies with economy-wide benefits.
In conclusion, for each measure, the report provides a brief description of the policy. Finally, its legislative history. Also general estimates of associated costs and benefits. As well as recommendations about future policy design.
To read the report visit: https://aceee.org/research-report/e136
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