Energy Resource Management, an energy efficiency finance company, has announced  the publication of a research report in collaboration with the U.S. Center for American Progress in Washington, D.C. The report, titled “Efficiency Works: Creating Good Jobs and New Markets Through Energy Efficiency,” notes the top 10 U.S. states leading in the creation of energy efficiency-fueled jobs and industries and provides a report card on innovative state energy policies. The states profiled are leaders in creating energy efficiency programs that work as effective partnerships between regulatory agencies, utilities, commercial and residential building owners, large campus owners and private capital investors.

The top states recognized for promoting energy efficiency are Connecticut, California, Maryland, Massachusetts, Pennsylvania, New York, Texas, North Carolina, New Jersey, and Ohio.
                           
A near term solution to cutting dependence on foreign oil and coal, the states recognized in this report are aggressively addressing the needs of customers and investors in their markets. The report argues the need for innovative financial tools that can have a transformational impact on the energy efficiency opportunity while creating jobs immediately. Included in the report are suggestions and highlights to drive new business investment through energy efficiency retrofits and clean energy.

Highlights of the Report include:

• The most progress has been made in California estimated to create nearly 18,000 new jobs in the next two years as a result of energy efficiency-related initiatives), New England (the best at coordinating adjacent states’ conservation efforts), the Mid-Atlantic region and New York.


• The unemployment rate in the construction industry remained at nearly 25 percent for three straight months by 2010. The implications of collapsing demand in construction are devastating. A national focus on retrofitting American homes, commercial buildings and campuses will be led by public policy shifts and investment from the private sector to be sustainable and scalable.


• Government policy shapes the overall market and underlying costs of delivering energy to consumers. The report outlines 10 policies that are effectively used in states and can have significant impact in shaping the market for energy efficiency.


• It is imperative that we embrace a national program to retrofit America’s homes, offices and factories for energy efficiency. It will likely take public policy leadership to mobilize the private sector investment needed to grow this emerging market.


• Innovative approaches can create new opportunities for unbundled utilities to meet their energy efficiency targets within a structure that assures ratepayers of delivery of permanent demand reduction.


• By all accounts, utilities are not incentivized to make energy efficiency work. A misalignment of priorities, incentives, public policy and consumer demand is often credited for the low levels of commitment to energy efficiency within energy markets.

There is a real need to educate and engage consumers, policy leaders, utilities and private investors in the solving the energy crisis and defining the consequences for ignoring or misappropriating efforts in this area.