NEWS RELEASE
Contact: Skip Laitner, 202-507-4029
Press contact: Patrick Mitchell, 703-276-3266
ACEEE "Diagnostic
Review" Shows Most Economic Projections Off
By Wide Margin on Potential
Energy Efficiency Benefits, Greenhouse Gas Cuts
Washington, D.C. (July 30, 2009):
A new report from the nonprofit and independent American Council for an
Energy-Efficient Economy (ACEEE) finds that many conventional climate economic
impact studies misread the historical record on the nation's energy
productivity opportunities. The
Positive Economics of Climate Change Policies: What the Historical Evidence Can
Tell Us suggests that most studies that evaluate so-called
cap-and-trade policies either ignore or greatly understate the potential
advances in energy efficiency, the largest and most cost-effective form of
greenhouse gas mitigation.
"The evidence shows that
productive investments in energy-efficient technologies can enable the U.S.
economy to save money and to substantially reduce its greenhouse gas emissions
- both immediately and by mid-century," said author John A.
"Skip" Laitner, Director of ACEEE's Economic and Social Analysis Program.
As part of the study, Laitner conducted a diagnostic review of the recent
assessments of the H.R. 2454 climate change legislation, also known as the
Waxman-Markey bill, which passed the U.S. House of Representatives by a narrow
margin on June 26, 2009. It is now under consideration by the U.S. Senate, with
action likely this fall. Unlike most
other studies, ACEEE's report find that U.S.
consumers and businesses could see their energy bills cut in half by 2050.
"In contrast to climate policies
based on international offsets and banking, an efficiency-powered policy can
provide a benefit to the climate while actually causing a small but net
positive increase in the nation's economy and employment," said economist
and climate policy expert James Barrett, Ph.D., among those who reviewed the
study for ACEEE.
This analysis builds on the many
past and recent energy efficiency resource assessments by ACEEE, McKinsey &
Company, the Boston Consulting Group, and others. "The evidence is compelling," Laitner noted.
"With advances in new materials, new designs, and the emerging
contributions from information and communication technologies, energy
productivity gains can power the economy in new ways that reduce greenhouse gas
emissions."
"
The
Positive Economics of Climate Change Policies: What the Historical Evidence Can
Tell Us is available for free download or a hard copy can be purchased for $25
plus $5 postage and handling from ACEEE Publications, 529 14th St, N.W., Suite
600, Washington, D.C. 20045, phone: 202-507-4000, fax: 202-429-2248,
e-mail: aceee_publications@aceee.org.
###
About ACEEE: The
American Council for an Energy-Efficient Economy is an independent, nonprofit
organization dedicated to advancing energy efficiency as a means of promoting
economic prosperity, energy security, and environmental protection. For
information about ACEEE and its programs, publications, and conferences, visit http://www.aceee.org.
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