Politics

New Report from Energy Information Administration Confirms Low Cost of Clean Energy Bill

By Karina

Today, the Energy Information Administration (EIA) released a report confirming previous estimates of the low costs and large benefits of the American Clean Energy and Security Act that the House passed in June:

The overall impact on the average household, including the benefit of many of the energy efficiency provisions in the legislation, would be 23 cents per day ($83 per year). This is consistent with analyses by the Congressional Budget Office which projects a cost of 48 cents per day ($175 per year) and the Environmental Protection Agency which projects a cost of 22 to 30 cents per day ($80 to $111 per year). None of these analyses take into account the benefits of reducing global warming.

Renewable electricity generation is “dramatically higher” under Waxman-Markey, increasing renewable generation 28 percent by 2030.

Roughly 83 percent of new electricity generating capacity would be low or zero carbon.

The Combined Efficiency and Renewable Energy Standard would not increase the cost of the legislation.

The EIA report was requested by Chairmen Henry Waxman and Edward J. Markey, the co-authors of the legislation. On the report, the Chairmen released a statement saying:

The evidence is now overwhelming that this clean energy legislation is both affordable and effective. American clean energy will grow substantially, and so will clean energy jobs that can?t be shipped overseas.

Speaker Pelosi:

Another report has confirmed that clean energy is a good investment for our economy and for our energy security.

The Energy Information Agency estimates that the American Clean Energy and Security Act approved by the House will dramatically reduce our dangerous dependence on foreign oil, increase clean renewable electricity generation in America by 28 percent, while also keeping electricity costs affordable for all Americans.

Read the report on the EIA website>>

Read a fact sheet from the Energy and Commerce Committee>>

Full post as published by The Gavel on August 04, 2009 (boomark / email).