from Jim in Viroqua, WI:
#257
What's the economic multiplier for energy efficiency? If I use $1 less in energy how does this effect my local economy?
Every dollar saved benefits the economy.
It’s pretty simple every time a homeowner saves a dollar on energy costs, that frees up one dollar that they can now spend on other items, such as food, clothing, entertainment, etc. So in short it is a 1 for 1 value, saving money on utilities bills allows people to invest their money on other items. Additional cost saving occur where energy efficiency reduces the need for a new power plant. In essence the cost of the new plan is recovered in your electricity rates over many, many years. By limiting the need for new plants through energy efficiency, we eliminate the need for rate payers to carry those costs as well. So, reducing your energy usage can not only save you a dollar today, it can save you hundreds of dollars in the future; all of which, when used elsewhere can benefit the Wisconsin economy.
Published Friday, June 19, 2009