Today, the Environmental Protection Agency(EPA) released an analysis of the American Clean Energy and Security Act (HR 2454) finding that as a result of energy efficiency measures in the legislation, consumers will spend around 7% less in 2020 on their utility bills and that the overall impact on the average household would be 22 to 30 cents per day (or $80 to $111 per year).
Today's report puts to rest the misleading attacks that have been leveled against a clean energy economy at every step. This historic legislation is the product of months of consensus building to achieve an effective and affordable transition to a clean energy future.
This analysis shows that the overall impact of this legislation on the average household would be 22 to 30 cents per day — less than the cost of a postage stamp — at the same time as the energy provisions in the Recovery Act return up to an estimated 26 cents a day to American families.
The return on our investment is great. We will create millions of clean energy jobs, cut carbon pollution that causes climate change, reduce our dependence on foreign oil, and increase our national security.
Last week, a Congressional Budget Office(CBO) analysis of the bill found an average cost of around 48 cents per day in 2020 ($175 per year) — 18 times smaller than what House Republicans had been claiming for months (a claim that PolitiFact’s Truth-O-Meter calls a “pants on fire” lie). In addition, the American Council for an Energy-Efficient Economy recently estimated the average household will save $200 per month by 2020 and $3,900 a year by 2030 from greater efficiency in appliances and homes. Neither the EPA analysis nor the CBO analysis take the benefits of reducing global warming to our planet, our economy, our agriculture, or our children into account.