Energy-efficiency standards an "economic powerhouse"
August 2, 2013 | By
Barbara Vergetis Lundin
The U.S. Department of Energy (DOE) has been overestimating the impact energy-efficiency standards for appliances and other products have on prices, according to research from the American Council for an Energy-Efficient Economy (ACEEE) and the Appliance Standards Awareness Project (ASAP). "Based on market data, the prices of many appliances have gone down even as new efficiency standards have taken effect," said ACEEE Executive Director Steven Nadel. "Even when prices have gone up some, the increase is far lower than DOE estimated." When appliance standards are developed, DOE estimates net savings for consumers by taking into account utility bill savings and cost impacts -- primarily price increases to make appliances more efficient-- and only sets standards it finds are cost-effective for consumers. DOE underestimated consumer savings in nine appliance standards that took effect from 1998-2010 -- and by a large margin, according to ACEEE. Across the nine rulemakings, DOE estimated an average increase in manufacturer's selling price of $148; on average, the actual change in price was a decrease in manufacturer's selling price of $12. "Energy-efficiency standards are proving to be an economic powerhouse, driving even more consumer savings than we realized," said ASAP Executive Director Andrew deLaski. For more: Sign up for our FREE newsletter for more news like this sent to your inbox! © 2013 FierceMarkets. All rights reserved. http://www.fierceenergy.com http://www.fierceenergy.com/story/energy-efficiency-standards-economic-powerhouse/2013-08-02 |