Washington, DC (March 9, 2007) -- A new energy-efficiency bill introduced this week, with strong bipartisan support in the U.S. House of Representatives and Senate and welcomed by business and conservation groups, would provide consumers and businesses relief from volatile energy prices and curb global warming pollution.
The EXTEND the Energy Efficiency Incentives Act of 2007 enhances and extends the energy efficiency and solar energy tax incentives enacted in the Energy Policy Act of 2005. Increasing energy efficiency reduces natural gas consumption, helping to decrease prices while also reducing pollution and saving consumers and businesses money on their energy bills.
The Senate EXTEND Act is sponsored by Sen. Snowe (R-Maine), and cosponsored by Sens. Feinstein (D-Calif.), Kerry (D-Mass.), Bunning (R-KY), Bingaman (D-N.M.), Salazar (D-Colo.), Coleman (R-Minn.), Smith (R-Ore.), Allard (R-Colo.), and Cornyn (R-TX). The House EXTEND Act is sponsored by Rep. McDermott and cosponsored by Reps. Markey (D-Mass.) and Weller (R-Ill.).
The broad coalition of groups supporting the new bill includes: Alliance to Save Energy, Polyisocyanurate Insulation Manufacturers Association (PIMA), Portland General Electric, Residential Energy Services Network (RESNET), Real Estate Roundtable, Retail Industry Leaders Association, Sacramento Municipal Utility District, and Sierra Club.American Council for an Energy Efficient Economy, Building Owners and Managers Association (BOMA) International, The Dow Chemical Company, DuPont, Exelon, Edison Electric Institute, National Association of State Energy Officials, National Electrical Manufacturers Association (NEMA), the Natural Resources Defense Council (NRDC), New York State Energy Research and Development Authority (NYSERDA), North American Insulation Manufacturers Association, Pacific Gas & Electric Company (PG&E),
Reaction from the organizations that support the bill:
“Energy efficiency is the quickest, cheapest and cleanest way to bring down natural gas prices while curbing global warming pollution,” said Jim Presswood, Energy Advocate at NRDC. “The EXTEND Act creates a market structure that will reduce prices and decrease the need to build more polluting power plants.”
“In order for American consumers, businesses, and the nation’s economy and energy security to benefit fully from the landmark energy-efficiency tax incentives in the 2005 Energy Policy Act, those provisions must be in place long enough to transform the market. By extending and improving the tax incentives for energy-efficiency, this bill will ensure that our national investment fosters development of a long-term and sustainable market for energy-efficient building products and efficient building design,” said Kateri Callahan, President of the Alliance to Save Energy.
“Energy efficiency should be the first tool we use to achieve both energy security and reduced greenhouse gas emissions,” said Peter Molinaro, Vice President of Government Affairs for the Dow Chemical Company.
“Aggressive and cost-effective energy-efficiency measures across the U.S. economy,regardless of the fuel you use, can help consumers save money while reducing greenhouse gas emissions,” said Linda Fisher, Vice President and Chief Sustainability Officer for DuPont.
“Exelon is committed to achieving greater levels of energy efficiency and supports this legislation as a means of advancing that goal,” said Betsy Moler, Executive Vice President, Government & Environmental Affairs and Public Policy at Exelon. “Energy efficiency incentives would be an effective tool to help address global climate change and give our customers an opportunity to reduce their demand for electricity and natural gas, as well as the costs associated with their use."
“The EXTEND Act provisions, such as the commercial building tax deduction, are key to overcoming barriers to the use and deployment of energy efficient and renewable technologies by businesses and consumers. The bill's incentives will accelerate our nation's use of energy-efficient electrical products, which is a win-win to reduce energy costs and protect our environment.,” says Kyle Pitsor, Vice President of Government Relations at the National Electrical Manufacturers Association (NEMA).
“The extension of these critical tax incentives, which require some complexity for compliance, is essential to permit sufficient time for educating the marketplace, which will ensure the intent of Congress is fulfilled,” said Jared O. Blum, President, PIMA (Polyisocyanurate Insulation Manufacturers Association)
“The tax incentives for energy efficiency contained in the Energy Policy Act of 2005 provide a critical boost to market transformation of cost-effective energy efficiency technologies. This is even more timely with the growing concern over global climate change and our addiction to foreign oil,” said Steve Baden, Executive Director of RESNET.
“The Retail Industry Leaders Association and our member companies are committed to environmental sustainability. We applaud this legislation, which would extend and expand energy efficiency tax deductions, and give retailers and other businesses greater opportunity to expand sustainability efforts,” according to Faith Cristol, Vice President, Workforce and Tax at RILA.