President Obama Announces Energy Efficiency Performance Contract Funding Model
December 3, 2011 2:00PM EST
December 2, 2011
On December 2, President Obama, joined by former President Bill Clinton, announced $4 billion in combined private and federal funds to be invested in upgrades to commercial buildings over the next two years.
Watch the The Presidents Video:
As part of the Better Buildings Challenge, 60 CEOs, mayors, university presidents and labor leaders committed to invest almost $2 billion of private capital in energy efficiency projects. Among the company’s who pledged funding were Abundant Power which committed $100 million, Ygrene Energy Fund, which also committed $100 million, and Metrus Energy which increased its commitment from $50 million to $75 million.
The private sector funding will be matched by a $2 billion fund made through a Presidential Memorandum, to energy upgrades of federal buildings. The White House was clear to point out that the funds will be made available through long term energy savings to pay for up-front costs and will not be tapped from taxpayers.
In fact, the President believes the Challenge will stimulate the economy by both creating new jobs and also lowering energy costs for American Businesses. The Challenge is part of the Better Buildings Initiative (BBI) which was launched by President Obama in February.
Led by former President Bill Clinton and the President’s Council on Jobs and Competitiveness, the BBI seeks to improve building energy efficiency by 20% by 2020 and by doing so will save US businesses $40 billion a year. According to a statement released by the White House, in 2010 commercial buildings consumed roughly 20 percent of all the energy used by the U.S. economy.
“Upgrading the energy efficiency of America’s buildings is one of the fastest, easiest, and cheapest ways to save money, cut down on harmful pollution, and create good jobs right now. But we can’t wait for Congress to act. So today, I’m directing all federal agencies to make at least $2 billion worth of energy efficiency upgrades over the next 2 years – at no up-front cost to the taxpayer. Coupled with today’s extraordinary private sector commitments of $2 billion to upgrade businesses, factories, and military housing, America is taking another big step towards the competitive, clean energy economy it will take to win the future.”
It has taken 3 years and 3 months for this administration to heed the call of the National Green Energy Council. On September 23, 2008 the National Green Energy Council held a press conference at the National Press Club in Washington, D.C. where our organzaition presented the first US Energy Master Plan in forty years.
This plan was sent to 535 Congressional leaders and President Obama. In that plan our organziation called Energy Efficiency education and retrofits the “first” renewable energy. We presented that energy efficiency could put millions of Americans back to work and save the construction industry.
It never ceases to amaze me how slow our system of government moves to help the American people.
I am honored and proud of all those National Green Energy Council leaders that assisted me in creating the United States Energy Master Plan in 2008.
Please watch the You Tube videos proving this fact:
I hope now government and the investment community will get behind the single greatest employment tool our nation has seen since the industrial revolution and we can make America great again!
All my best,
National Green Energy Council
About The National Green Energy Council
The GEC is an National advocacy association comprised of individuals and companies that promote “Green” (sustainable) forms of energy production, renewable energy sources, and sustainable design practices and advanced thinking in utilizing education and information for the promotion of being better stewards of our environment. The GEC is comprised of renewable energy companies, developers, builders, material suppliers, subcontractors, consultants, lending institutions, utilities, installers, designers, manufacturers, engineers, inspectors, consultants and others involved in and out of the “green” community.
To learn more about the efforts of the National Green Energy Council or to become a member go to: