OBAMA ADMIN PUTS $4BIL UPGRADE BLDGS
President Obama Announces $4 Billion Investment in Energy Upgrades to Buildings
December 2, 2011 (Clean Edge News)
"President Obama announced nearly $4 billion in combined federal and private sector energy upgrades to buildings over the next 2 years…investments [that] will save billions in energy costs, promote energy independence, and, according to independent estimates, create tens of thousands of jobs in the construction sector. The $4 billion investment includes a $2 billion commitment, made through the issuance of a Presidential Memorandum, to energy upgrades of federal buildings using long term energy savings to pay for up-front costs, at reportedly no cost to taxpayers…
"… 60 CEOs, mayors, university presidents, and labor leaders committed to invest nearly $2 billion [more] of private capital into energy efficiency projects; and to upgrade energy performance by a minimum of 20% by 2020 in 1.6 billion square feet of office, industrial, municipal, hospital, university, community college and school buildings. This announcement builds on a commitment made by 14 partners at the Clinton Global Initiative America meeting in June to make energy upgrades across 300 million square feet, and to invest $500 million in private sector financing in energy efficiency projects."
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"The commitments were announced by President Obama…former President Clinton…[and] representatives from… the Better Buildings Challenge…[an] Initiative…to support job creation by catalyzing private sector investment in commercial and industrial building energy upgrades to make America’s buildings 20 percent more efficient over the next decade, reducing energy costs for American businesses by nearly $40 billion. Last year, commercial buildings consumed roughly 20 percent of all the energy used by the U.S. economy.
"…[T]he U.S. Chamber of Commerce has recognized [the Presidential Memorandum] as critical to job creation…[It implements] existing federal authority to utilize Energy Savings Performance Contracts (ESPCs)… to promote energy efficiency and create new jobs…[N]ew energy efficient equipment [will be] installed at Federal facilities at no up-front cost…[The] improvements [will be] paid for over time with…[utility bill [savings], and the private sector contractors guarantee the energy savings."