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Energy efficiency bill will grow American economy and save consumers money

(Washington, DC) – A new study finds the bipartisan energy efficiency legislation from U.S. Senators Jeanne Shaheen (D-NH) and Rob Portman (R-OH) has the potential to create 136,000 domestic jobs by 2025 all while saving consumers billions of dollars and reducing pollution.

“Energy efficiency is an excellent, bipartisan and affordable way to immediately grow our economy and create the kind of jobs the 21st century economy demands,” Shaheen said. “The bipartisan energy efficiency plan Senator Portman and I have introduced will help address our country’s energy needs in a way that boosts our economy and also saves taxpayers dollars."

The analysis conducted by the American Council for an Energy-Efficient Economy (ACEEE) examined the impacts of several provisions of the Shaheen-Portman Energy Savings and Industrial Competitiveness Act (S.1392), which would establish a strategy to increase the use of existing energy efficiency technologies in the residential, commercial and industrial sectors of our economy in order to reduce costs and consumption. The study estimates the legislation would net billions in consumer savings while cutting government and industrial energy waste and helping homeowners finance energy efficiency improvements, among other energy-saving measures. 

“The Senate should act quickly to pass this important legislation,” said Steven Nadel, ACEEE executive director. “The provisions we analyzed have the power to save consumers money, stimulate the economy and protect the environment.”

The Shaheen-Portman legislation builds upon several energy provisions that were signed into law last year and offers a deficit-neutral framework to promote the transition to a more energy efficient economy while driving economic growth.  The bill passed through the Senate Energy Committee on a strong bipartisan vote of 19-3 and has received resounding support from a broad coalition of business, labor and environmental leaders. The Senate will move to full debate on the bill this month.