Lugar ‘Practical Energy Plan’ Would Save Americans $33 Billion Annually by Reducing Energy Needs 4%
Washington, D.C., June 30, 2011 – An energy bill unveiled today on Facebook by Sen. Richard Lugar (R-Ind.) , an honorary vice-chair of the Alliance to Save Energy, would save Americans more than $33 billion annually with a variety of immediate and longer-term energy efficiency initiatives for autos, buildings and industry. By trimming U.S. energy needs and leveraging private investments in energy efficiency, the Practical Energy Plan of 2011 would encourage job-creating economic growth, improve U.S. global competitiveness and protect the environment.
“The Alliance commends our honorary congressional vice-chair, Sen. Lugar, for proposing sound, cost-effective public policy that deploys a foundation of energy efficiency to save taxpayers money, create jobs and keep U.S. industry competitive” said Alliance President Kateri Callahan. “The senator’s bill demonstrates that energy efficiency advances national priorities that resonate with Americans across the political spectrum and in all regions of the country.”
Lugar Bill Creates Energy Efficiency Targets
The Lugar bill sets annual fuel efficiency improvement targets of 4% or more, reducing U.S. oil dependence by 2.7 million barrels of oil daily and saving consumers $400 to $550 a year.
Further, the bill leverages private financing to provide low-cost loans to homeowners, small businesses, nonprofits and commercial facilities for cost-saving energy efficiency upgrades to buildings. A separate provision facilitates low-interest loans to rural homeowners and businesses for energy efficiency retrofits.
The bill also requires that all new federal buildings meet or exceed national model energy efficiency codes and accelerates implementation of Energy Saving Performance Contracts (ESPCs). The latter provision will save taxpayers $800 million annually in avoided federal energy costs.
Boosting American Competitiveness
By accelerating deployment of energy-saving equipment and processes in U.S manufacturing with a self-sustaining, low-cost loan program administered by state and local governments, the bill would save 1.1 quadrillion Btu per year and boost American competitiveness.
Callahan concluded, “The Lugar bill is a sound national investment with a tremendous return. In addition to the tremendous money and energy savings, the bill is expected to leverage considerable private dollars to maximize various federal investments.”
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