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American Energy Efficiency Act: New Energy Savings Standards

This act introduces new nationwide electricity and natural gas savings standards for suppliers. It aims to reduce energy consumption in homes and businesses, potentially leading to lower utility bills. Suppliers will be required to actively support energy efficiency programs, and states can establish their own similar initiatives.
Key points
Mandatory Energy Savings Targets: Electricity and natural gas suppliers must achieve specific energy savings levels, encouraging investment in efficiency programs.
Support for Upgrades: The act promotes upgrades in homes and businesses, such as better insulation, more efficient appliances, or combined heat and power systems, potentially lowering operating costs.
Transferability of Savings: Suppliers can buy or sell achieved energy savings, creating a flexible market and encouraging innovation.
Penalties for Non-Compliance: Companies failing to meet savings requirements will face penalties, with collected funds directed towards further energy efficiency programs.
State Program Flexibility: States can implement their own energy efficiency programs if they meet or exceed federal standards, allowing for local adaptation.
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Additional Information
Print number: 117_HR_5889
Sponsor: Rep. Welch, Peter [D-VT-At Large]
Process start date: 2021-11-04