WASHINGTON, D.C. – Joint Economic Committee Democrats released a report today on energy efficiency and the important role it plays as a component in the clean energy economy. This report follows President Trump’s decision to withdraw the United States from the Paris Agreement, impacting millions of Americans who are employed in the clean energy economy. The report outlines how the application of energy efficiency technologies creates well-paying jobs, lowers government spending, saves consumers and businesses money, increases competitiveness for businesses, and reduces carbon emissions. Congress must now invest in projects and research that foster job growth and the expansion of the energy efficiency economy.
The report, “Energy Efficiency Powers Economic Opportunities,” highlights that for every $1 million invested in energy efficiency, approximately eight full-time jobs in energy efficiency are created. This is nearly three times more than the number of jobs created by the same investment in the fossil fuel sector. Energy efficiency also has an impact on households themselves: American consumers are on track to save $2 trillion on energy costs due to advancements in energy efficiency standards, freeing income up that would normally go to electricity or heating bills.
“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,” said U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee. “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. 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 importance of expanding and prioritizing the clean energy economy.
Click here to read the full report.
