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December 6, 2007 – Vol. 12 No.37 American Council for an Energy-Efficient Economy (ACEEE): US House of Representatives Energy Bill Saves Three Times as Much as 2005 Act. Passed by a vote of 235 to 181, the bill would save more than five times as much as the Energy Policy Act of 1992, according to a preliminary analysis by the ACEEE. The House bill would reduce US energy use by almost 8 percent by 2030 and US carbon dioxide emissions by 10 percent relative to the current Department of Energy forecast. This legislation would save consumers more than $450 billion dollars through 2030. More than half the energy savings in the bill come from the biggest increase in vehicle fuel economy standards since the 1970s plus the initiation of a program to develop fuel economy standards for medium and heavy trucks. (In the bill fuel economy for passenger vehicles would rise by approximately 40 percent over current levels to reach 35 mpg by 2020.)
The Energy Independence and Security Act (H.R. 6) also includes major savings from new efficiency standards for lighting, appliances, and other products (accounting for about 20 percent of the 2030 savings); extensions and enhancements of tax incentives enacted in the 2005 energy bill; a new commercial building program designed to dramatically reduce commercial sector energy use over several decades (about 8 percent of the savings); a new tax incentive for combined heat and power (CHP) and recycled energy; and a Renewable Electricity Standard that includes energy efficiency. (Extensions and enhancements of tax incentives enacted in the 2005 energy bill includes expanding the Renewable Fuels Standard (RFS) to 36 billion gallons by 2022, mostly more ethanol. For biodiesel the legislation requires that 500 million gallons of biodiesel and biomass-based diesel fuel be blended into the diesel pool in 2009, gradually ramping up to one billion gallons by 2012. The bill extends the current biodiesel tax incentive through December 31, 2010) (The RES requires that 15 percent of electricity comes from renewable sources and also gives utilities the opportunity to meet up to just over one-fourth of the standard through energy efficiency improvements.) The ACEEE has also completed a five-month study of the RES showing job growth while cutting consumer energy bills and carbon dioxide (CO2) emissions. (12/6/07)
Links: ACEEE Details on ACEEE's analysis of H.R. 6 Assessment of the House Renewable Electricity Standard and Expanded Clean Energy Scenarios
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No
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