Energy Efficiency Could Save Americans US $1.2T

In issuing its report, McKinsey & Co. state that energy efficiency is the “single most promising resource” in pursuing energy affordability and security. In addition to the tremendous savings to consumers and businesses, the report finds that elevating energy efficiency to a national priority could also create 600,000-900,000 sustainable green jobs and reduce our overall energy consumption by 23 percent.

Through strategic regional coordination facilitated by organizations such as Northeast Energy Efficiency Partnerships (NEEP), the Northeast region of the U.S. is leading the way in energy efficiency as a cost-effective resource in several ways. 

Savings from energy efficiency programs in Vermont, Massachusetts, Connecticut and Rhode Island implemented since the 1990’s have completely or nearly offset energy and load growth in those states in recent years at a fraction of the cost of new supply (ex. %0.035/kWh for efficiency vs. $0.13/kWh for new supply).

Since 2004, northeast state adoption of state appliance efficiency standards has paved the way to more than fifteen new federal appliance standards. 

Through strategic regional collaborations with industry, ratepayer-funded efficiency programs have transformed the market for a wide range of products (e.g., lighting, clothes washers, residential and commercial air conditioners) – such that the northeast states lead in market share for more efficient products, such as Energy Star and NEMA Premium.”

To download a copy of the full report, click here.