Energy Efficiency Report Confirms Michigan Is Ready For Stronger Energy Standards
Michigan’s energy efficiency standard is saving homeowners and businesses money, and utility companies are on track to surpass our state’s current goal, according to a report released by Governor Snyder’s administration. The report shows that energy efficiency standards are cost-effective measures that drive down the high price of electricity in Michigan. Findings confirm that increasing our state’s energy efficiency standard will yield even more savings.
Energy efficiency is the cleanest, greenest way to cut back on the cost of doing business in Michigan. Governor Snyder’s report confirms that strengthening our state’s efficiency standard is a practical step forward.
The report shows that for each dollar invested in energy optimization, customers see approximately $3.83 in avoided energy costs. It estimates that total cost savings for 2012 will reach $936 million, and an additional $2.8 billion in savings is expected between 2013 and 2015. It also confirms that the potential for increased savings exists if Michigan’s energy optimization program is continued. The report complements an earlier renewable energy report, which found that Michigan is capable of raising its renewable energy standard to 30% or more by 2035.
Michigan business leaders and homeowners agree that energy efficiency is a critical component of any long-term energy plan. We look forward to working with Governor Snyder to turn these findings into strong clean energy policy that will move Michigan forward.
Governor Snyder’s energy efficiency report is the fourth in a series of energy reports released this fall. Public comments on the report will be accepted through November 6th, and the final energy efficiency report is expected to be released on November 26th.