Billions in energy efficiency savings for North Carolinians is achievable, report finds
September 25, 2018 – North Carolina Building Performance Association (NCBPA) today released a report projecting the potential for $13.9 billion in energy savings in North Carolina over ten years.
“The most cost-effective source of energy available is energy we can avoid using in the first place,” said Ryan Miller, Executive Director of NCBPA. “With the support of lawmakers and regulators placing a high priority on energy efficiency policy, we can help North Carolina residents and businesses reduce energy use, save money, create jobs and build a safer, healthier environment.”
The NCBPA report found that $13.9 billion in energy savings is achievable by enacting policies that promote consumer education, energy efficiency financing programs, strengthening building codes and enabling the development of innovative new energy saving programs for all building types – residential, commercial, public and industrial. If opportunities are maximized with a 16.8 percent increase in energy efficiency investment over ten years, the report finds that these efforts would create 53,200 new jobs and result in a 0.6 percent increase in the state’s Gross Domestic Product (GDP).
According to lead author Emily Bulla, the increased energy efficiency investment would also yield significant environmental benefits. “The 16.8 percent increase would offset 72.9 million metric tons of CO2,” said Bulla. “That’s the equivalent of taking 15.5 million cars off the road for a year or saving 85 million acres of forest from harvest.”
The report concludes with sample legislation that sets in motion an “Energy Efficiency First” strategy for addressing North Carolina’s current and future energy needs. NCBPA estimates a $5.15 return for every $1.00 invested in energy efficiency, far greater than other energy sources.
“To make this possible, we are calling upon policymakers to collaborate with us to establish policies that reduce cost barriers, lower risks and reduce regulatory compliance costs,” added Miller. “The benefits of increased energy efficiency investments in our state are too great to ignore.”
Visit our Research & Reports page to download the report.
North Carolina Building Performance Association (NCBPA) is a 501(c)(6) not-for-profit trade association of building performance professionals and companies leading high-performance construction in the state through quality construction, workforce development, political advocacy, public education and member services. The association works with member companies and partner organizations to promote opportunities that improve the quality of buildings in North Carolina so that all residents and businesses can live and work in healthy, safe, durable, cost-effective and environmentally friendly homes and buildings. Visit www.BuildingNC.org for more information.