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an Energy-Efficient Economy noted that “pursuing energy efficiency policies that stimulate high efficiency products and services would generate over 800,000 jobs by 2010, as well as almost $31 billion in new wages and $14 billion in GDP.”31 Impact of Energy Conservation and Efficiency Policies on National Objectives Energy Independence and Security Energy efficiency investments in energy storage and smart grid technology lower the likelihood of outages caused by grid accidents or terrorist attacks, increasing the reliability of the electrical system through decentralization. Economic Impact and Feasibility Investing in energy efficiency implementation today would lower consumer energy bills and encourage new job creation. Minimum energy efficiency standards, renewable energy heating and cooling, energy storage, and smart grid technology will be costly, but could also stimulate economic growth by increasing employment and wages in new construction projects, retrofitting buildings, and maintaining new efficiency systems. While a short-term economic impact might be hard to see, investments in energy efficiency could provide a longer-term technological and research benefit for the alternative energy sector as well. Environmental Impact Findings suggest that energy efficiency improvements represent the most easily- accessible and substantial ways to reduce the nation’s carbon footprint for all consumers. Samuel Bodman, the Secretary of Energy from 2005-2009, once mentioned that the energy we waste is “the cheapest, most readily available source of energy Americans can access.”32 Harnessing wasted energy for productive use means consumers do more work with fewer emissions, starting with traditional hydrocarbon energy resources. Renewable Electricity Development Policies National policy should be used to encourage the development and deployment of renewable generating technologies that optimize regional strengths. Collectively, the five policies discussed here—a national renewable portfolio standard, tax incentives, deployment partnerships, research and development, and education—are designed to provide a “supply push” of feasible alternatives within the current market system to address the “demand pull” for cleaner energies expected in a carbon tax regime. Congress should prioritize renewable electricity policy as an important part of the larger integrated the National Energy Plan that shapes the energy technology transition. 176PDF Image | Shaping Energy Technology Transition
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