Better luck the second time around?

On May 8th, the Energy Savings and Industrial Competitiveness Act, a bill to promote energy savings in residential and commercial buildings, and industry, was sent to Senate for consideration. The Act was re-introduced by Senators Rob Portman and Jeanne Shaheen in April of 2013, after an earlier version of this bill was brought to a Senate sub-committee in 2011. The Act is said to offer a deficit-neutral framework to promote a move to an energy-efficient economy while stimulating economic growth and creating thousands of new jobs.

According to MSN, the Act will encourage industrial energy-efficiency upgrades through tax credit and state grant programs, R&D funding and efficiency standards for new building codes. Parties that have shown strong support for the legislation include the U.S. Chamber of Commerce, the National Association of Manufacturers, the National Association of Electrical Distributors (NAED), the Alliance to Save Energy, and the International Union of Painters and Allied Trades.

Energy bill to create jobs and boost economy

The ACEEE, predicts that the Act, also known as S.1000, can not only create 80,000 net jobs, but save consumers approximately $4 billion on energy bills in 2020, and up to $30 billion in 2030. Senator Shaheen is quoted as saying that: “Energy efficiency is the fastest, most cost-efficient way to tackle our energy needs and keep our economy competitive all while creating needed and sustainable jobs. Passing this bill would be a clear and quick win for the economy, taxpayers and the environment.”

Want to know more?

Learn more about the Energy Savings and Industrial Competitiveness Act by watching the video below:

You can follow the progress of this bill at Gov Track.

Questions or comments about the Energy Savings and Industrial Competitiveness Act? Leave them below!

image credit: New Hampshire Public Radio