Alliance Hails Bipartisan Industrial Energy Efficiency Initiative

Release Date: Friday, June 29, 2012

A bill providing tax incentives for energy efficiency in the industrial and manufacturing sectors again demonstrates that programs to save energy and money bridge the partisan divide, the Alliance to Save Energy said today.

The Expanding Industrial Energy and Water Efficiency Incentives Act of 2012 could save industry energy and money by reducing fuel dependency, industrial water consumption, energy costs, and greenhouse gas emissions as it creates jobs and improves U.S. global competitiveness. According to a recent McKinsey & Company study, the industrial sector offers the largest potential for increasing our nation’s energy efficiency – as much as $47 billion annually with the types of improvements offered by the bill.

Introduced by Democratic Sens. Jeff Bingaman (N.M.) and Dianne Feinstein (Calif.) and Republican Sen. Olympia Snowe (Maine), the bill enhances incentives for combined heat and power systems and creates tax incentives in four critical areas:

  • Advanced motors with variable frequency drives,
  • Efficient chillers,
  • Water reuse, and
  • Highly-efficient thermal biomass.  

“We commend Senators Bingaman, Feinstein, and Snowe for once again proving the bipartisan ‘bona fides’ of energy efficiency,” said Alliance President Kateri Callahan. “With its laser focus on a key economic sector whose energy savings will drive innovation and economic growth, their bill merits widespread support on both sides of Capitol Hill.”

She added, “It comes as no surprise that even in the twilight of his distinguished U.S. Senate career, Jeff Bingaman continues to work tirelessly for strong, effective national energy policies built on a foundation of energy efficiency. As a long-time honorary vice-chair of the Alliance’s Board of Directors, Sen. Bingaman’s commitment to energy efficiency has never been in doubt. This bill joins his important work with Senators Snowe and Feinstein on incentives for efficiency in residential and commercial buildings.”

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