Renewable energy and energy efficient systems are not as common across the country as they should be. While there have been past pushes by the government to improve the energy industry in America, there is still more to be done.
Luckily, two new pieces of proposed legislation are taking some large steps in the right direction, promising to make renewable energy and energy efficiency much easier to attain for residential energy customers!
The Sensible Accounting to Value Energy (SAVE) Act is considered one of the best proposals for expanding energy efficiency opportunities in the residential sector. If it passes, the SAVE Act would incorporate energy efficiency into residential mortgage underwriting. As a result, homeowners would realize the full monetary return on investment in energy efficiency.
In a nutshell: the SAVE Act would incentivize and require energy efficiency standards, meaning that the entire housing market would become more energy efficient as a standard. This could be great news if it is passed!
Energy Policy Modernization Act
This bipartisan bill, approved 85 to 12 by Senate Republicans and Democrats on the often-polarizing topic of energy policy, aims to respond to the rapidly transforming energy landscape in our nation today.
The Energy Policy Modernization Act would include provisions to promote renewable energy, improve the energy efficiency of buildings, and to cut some planet-warming greenhouse gas pollution. That’s right, it’s eco-friendly, too!
As next steps, the House and Senate will try to negotiate some sort of compromise between this bill and similar legislation that passed the House last year. If it passes, it would be the first time since 2007 that a significant energy bill reached the White House!
Analysts note that these two pieces of legislation are incredibly complementary and together could greatly incentivize and broaden the range of energy efficiency and renewable energy throughout the country. We’ll be waiting with baited breath to see what happens next!
Click below to learn more about these important pieces of legislation!