With an increased focus on climate change, utilities have a unique opportunity to take on more responsibility around power usage. A potential historic investment of more than $400 billion toward clean energy and innovation may include utilities-focused policies including an Energy Efficiency and Clean Electricity Standard (EECES) that would push utilities and grid operators to identify new opportunities for reducing their customers’ power consumption1.
LED lightbulbs, solar panels, and other energy-saving investments have long been the focus of end-user rebate programs for the utility industry. Making such changes presents a long-term win-win for both parties by lowering bills for the end-user and preserving utility resources. Swapping traditional incandescent lightbulbs for LED variations, for example, can save up to 348 terawatt-hours (TWh) when implemented on a widespread level, according to the U.S. Department of Energy (DOE). This energy savings represents the equivalent annual electrical output of 44 large electric power plants and a total savings of more than $30 billion, based on current electricity prices2.