The financial and societal benefits of energy efficiency are widely understood. However, the regulatory and market mechanisms for promoting energy efficiency that have emerged over the past thirty years have focused on “skimming the cream” from buildings, and have been largely successful in that effort.
These existing mechanisms cannot support the deep energy efficiency improvements that we now need.
- They were not designed for that purpose.
- They cannot attract the long-term capital required.
- At scale, they would undermine the financial stability of our utilities.
From the outset, MEETS has been carefully designed to enable and encourage the widespread deployment of the massive amounts of investment capital, labor, and technology required to retrofit millions of existing buildings, to substantially reduce ongoing year-to-year energy consumption.
The benefits to society include:
- Large numbers of new projects, jobs, and “green” economic growth
- New driver of at-scale carbon reduction
- Confidence in persistence of conservation
- A truce – even a new opportunity from alliances – between incumbent utilities and recent market entrants in the emerging Distributed Energy Resource industry.