CFA Details Economic Benefits of Transforming the Energy System to New DOE Secretary Granholm

CFA wrote to DOE Secretary Granholm, extolling the economic benefits of transforming the US energy system. Extensive research by CFA in support of our comments in several appliance efficiency and fuel economy standard rulemakings demonstrates that these new technologies lower consumer costs directly by lowering the cost of operating energy-consuming durable goods. These cost reductions strengthen the economy and increase consumer welfare by enabling consumers to “re-spend” those energy savings on higher value uses. They indirectly expand jobs and stimulate economic growth because the shift in spending employs more people, and the needed technologies create new products.