NSBA Testifies On Benefits of On-Bill FinancingOctober 12, 2011
The National Small Business Association testified on Thursday, Oct. 13 before the U.S. Senate Committee on Environment and Public Works Subcommittee on Green Jobs and the New Economy.
The hearing, “Innovative Practices to Create Jobs and Reduce Pollution,” focused on On-Bill Finances. The hearing was chaired by Sen. Bernie Sanders (I-Vt.), whom is expected to introduce legislation aimed at expanding the availability of On-Bill Financing opportunities around the country.
Representing the organization was NSBA Senior Director of Government Affairs Kyle W. Kempf. In his testimony, Kempf noted that most small-business owners lack the necessary money, time, and reliable information to invest in energy-efficiency upgrades and alternative-energy production, and that On-Bill Financing resolves each of these impediments.
He also emphasized the potential cumulative effects of more widespread adoption of On-Bill Financing programs. Specifically, he stressed the findings of NSBA’s 2009 report, “On-Bill Financing: Helping Small Business Reduce Emissions and Energy Use While Improving Profitability,” which was produced with funding from the Bipartisan Policy Center.
The report found utility bill savings of 15-30 percent were highly typical for small businesses that undertook energy-efficiency upgrades–usually by the simple adoption of existing energy-efficiency strategies. Furthermore, the report found that an average small business could save $4,932 each year on its energy bills–with many saving much more–with this level of improved efficiency. Kempf provided several real-world examples of small-business owners from around the U.S. who improved their energy efficiency, thereby improving their bottom line.
Kempt also outlined the report’s finding on the enormous environmental impact this sort of widespread, improved energy-efficiency could have. Small businesses as a whole could reduce greenhouse gas emissions by 259 million tons each year if they improved their energy efficiency by 30 percent. Remarkably, this is the equivalent of the emissions from 51 coal-fired power plants.
Please click here to view the complete testimony.