Senate Likely to Move on Energy Efficiency Legislation

April 30, 2014

pic-energy-solarAs soon as next week, the full Senate may take up the NSBA-supported and bipartisan Energy Savings and Industrial Competitiveness Act (S. 2262) (or the Shaheen-Portman Energy Efficiency Bill). If enacted, the bill will promote and facilitate the development and deployment of new energy efficiency technologies and adoption of more efficient processes. A previous version of S. 2262 was approved by the Senate Energy and Natural Resources Committee by a vote of 19-3.

According to NSBA’s most recent Energy Survey, 52 percent of small-business respondents said that they were very concerned with the future energy costs of running their businesses and roughly one-third said that they had made investments in new energy efficient equipment to save on energy costs. However, finding capital to invest in new energy efficient techniques was and still is a significant impediment with 40 percent citing available capital as the primary obstacle to making their business more energy efficient.

The Shaheen-Portman bill is projected to create an estimated 136,000 new jobs by 2025, achieve annual savings of $13.7 billion, and reduce C02 and other greenhouse gas emissions by the equivalent of taking 22 million cars off the road by the year 2030. By strengthening model building codes, providing technical assistance and education, and incentivizing industry to make voluntary improvements and investments to increase supply chain productivity and/or purchase new, high efficiency motors, motor systems, or transformers, this bill would significantly reduce energy use and costs, help create jobs, and promote energy independence. As such, NSBA supports the Shaheen-Portman Energy Efficiency Bill and urges Senators to reach an agreement on amendments so that they may be able to enact this critical piece of legislation.