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On June 29, on the heels of the passage of the American Clean Energy and Security Act, President Barack Obama and Energy Secretary Steven Chu, announced major energy efficiency initiatives that will save consumers billions of dollars every year. The President stated that energy efficiency and renewable energy are as important for the economy as they are for the environment. In terms of jobs created and money saved, he said, “One of the fastest, easiest, and cheapest ways to make our economy stronger and cleaner is to make our economy more energy efficient.”
The administration announced the new minimum efficiency standards for fluorescent lighting will save more energy than any other single standard issued by the government, noting that 7 percent of all U.S. energy is used for lighting. The new standards require increased efficiency in the hundreds of millions of fluorescent tube lamps used in commercial buildings, while phasing out conventional incandescent reflector lamps. This change alone will offset the carbon emission equivalent of 166 million cars and save customers between $1 billion and $4 billion over the next 30 years.
The administration also announced the release of $346 million of American Recovery and Reinvestment Act funding to advance energy efficient technologies in new and existing commercial and residential buildings. This money will support research into new building technologies as well as the retrofit of existing homes with today’s energy efficient techniques and products.
To find out how you can qualify for this federal money, check out this free Federal Tax Incentive Decoder.
