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Positive Returns: State Energy Efficiency Analyses Can Inform U.S. Energy Policy AssessmentsJohn A. “Skip” Laitner and Vanessa McKinney June 2008 Executive Summary Despite very strong evidence of the many cost-effective investments that could enhance further gains in energy productivity, the national energy and climate policy debates too often overlook the energy efficiency resource. The result is an ongoing series of national modeling assessments that tend to overstate the cost of needed changes in the nation’s energy and climate change policies. At the same time, however, there are a large number of state-level studies that suggest a small but net positive benefit for the American economy as a result of policies that emphasize investment-led energy efficiency improvements. These studies suggest that energy efficiency policies offer a significant return on investment in ways that create jobs, promote a more robust economy, and insulate businesses and consumers from highly volatile changes in fossil fuel prices. Based on a review of 48 different assessments, this report highlights the findings of a wide variety of studies that explore the many possibilities of further gains in energy efficiency, especially at the regional and state level. The studies reviewed here show an average 23 percent efficiency gain with a nearly 2 to 1 benefit-cost ratio. From analyzing this set of studies, we estimate that a 20 percent to 30 percent energy efficiency gain within the U.S. economy might lead to a net gain of 500,000 to 1,500,000 jobs by 2030. Based on these studies, the expectation is that efficiency-led policies would likely increase the nation’s GDP by about 0.1 percent, also by 2030. By highlighting the potential outcomes and methodologies, this report seeks to inform the national energy and climate policy debates now before Congress.View full report as a PDF or click to order hard copy. 40 pp., 2008, $25.00, E084 |
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