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Efficiency standards can save households $10,000
- Heather Ferrier Laminack
National efficiency standards for appliances, lighting and other equipment will save consumers and businesses more than $1.1 trillion per year and dramatically reduce green house gas pollution and other emissions by 2035, according to a study by the Washington, D.C-based American Council for an Energy-Efficient Economy (ACEEE) and Boston-based Appliance Standards Awareness Project
The study finds existing standards will save 200 quads of energy by 2035 with another 42 quads of savings achievable with new standards. A quad is a measure of energy — and to give you a frame of reference, the U.S. economy uses a total of about 100 quads per year. There is potential for even greater savings, ACEEE says. Updates to existing standards and new standards for other products that can be completed between now and 2015 could net consumers and business another $170 billion and reduce pollution even further.
Some of the key takeaways from the report include:
- A typical household will save about $10,000 between 2010 and 2025 simply by purchasing products compliant with minimum standards.
- A typical household's total electric bill during this period would be about 33 percent higher absent efficiency standards.
- Although efficient products typically cost more up front, the report found the cost of more efficient products pays back in lower utility bills within about three years with net benefits outweighing costs by 4 to 1.
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