Joint Economic Committee Democrats release report detailing economic impact of energy efficiency

Published on June 14, 2017 by Daily Energy Insider Reports

Joint Economic Committee Democrats recently unveiled a report on energy efficiency and its role in job creation, government spending as well as costs for consumers and businesses.

“President Trump and Congressional Republicans have the opportunity to expand energy efficiency efforts that support working families, create jobs, and grow the economy along the way,” Sen. Martin Heinrich
(D-NM), ranking member of the Joint Economic Committee, said.

The report, Energy Efficiency Powers Economic Opportunities, states that every $1 million invested in energy efficiency creates approximately eight full-time jobs in energy efficiency. The report emphasizes that this is nearly three times the number of jobs generated by the same investment in the fossil fuel sector.

American consumers are on track to save $2 trillion on energy costs because of advancements in energy efficiency standards, the report found.

The report follows President Trump’s announcement that he will withdraw the United States from the Paris climate accord.

“I was disappointed that the President chose to withdraw the United States from the Paris Agreement, which could slow down efforts to ensure American workers can secure the jobs of tomorrow in the clean energy economy, and I urge him to reconsider this ill-advised decision,” Heinrich said. “Prioritizing the clean energy economy, which includes energy efficiency, is key to America’s global energy leadership.”

This report is the second in a series on the clean energy economy.