ENERGY "BANK" LEGISLATION TO PROVIDE LONG-TERM FEDERAL ENERGY EFFICIENCY FUNDING
ENERGY "BANK" LEGISLATION TO PROVIDE LONG-TERM
FEDERAL ENERGY EFFICIENCY FUNDING
MILWAUKEE, March 10 /PRNewswire/ -- Rep. Michael Synar (D-Okla.) introduced legislation today, creating a federal energy bank designed to fund projects that will make federal government facilities more energy-efficient.
In introducing the bill, Synar said, "While the national energy strategy has several helpful amendments to encourage federal energy conservation, we need this bill to prime the pump and jump start federal energy conservation investment."
A recent study by the U.S. Office of Technology Assessment said that the federal government could save up to $1 billion annually by using available energy conservation technology that does not affect the comfort or productivity of workers.
"This substantial savings cannot be overlooked, particularly since volatility in the Middle East continues to endanger supplies of foreign oil," said Rep. Gerald Kleczka (D-Wis.), a co-sponsor of the bill and member of Synar's Government Operations Committee.
The federal government is the largest user of energy in the world, spending close to $10 billion on energy in 1990. An Executive Order signed by President Bush last year mandated 20 percent reductions in energy use by all federal agencies by the year 2000. While the order established the goal, it did not include a funding mechanism for energy efficiency projects.
Rep. Les Aspin (D-Wis.), another co-sponsor who also is chairman of the House Armed Services Committee and has been prodding the Department of Defense in providing funds for energy efficiency, said, "This bill will accomplish two important goals. First, it would save the taxpayers money by reducing the amount of energy the government uses. And secondly, it would increase our nation's security by reducing our dependence on unstable energy sources in the Middle East. I'm proud to be co-sponsoring this bill and happy to see that a Wisconsin firm has taken the lead in this important field."
"It is encouraging to see Congress take an active role in securing money
for energy conservation," said Douglas A. DecV.vKn,M&?qY>>c PRNEWSWIRE
revY6opme 4ax/ .hK 49 Oo_K Z8K .1M, Inc. "It's one thing to talk about an energy policy, but it means a great deal more to provide funding for actual, proven energy efficiency methods. The best part of this program is that it will pay for itself through savings at no cost to the taxpayer."
Under Synar's bill, federal agencies would be required to pay a fixed percentage of their annual utility payments into the bank for five years. The Secretary of Energy would be authorized to make loans from the bank to agencies for investment in energy efficient projects. The loans would be repaid out of savings realized from the efficiency investments, making the bank self-financing after five years.
Five Wisconsin congressmen agreed to serve as original co-sponsors of the bill. Representatives Jim Moody, Thomas Petri and Steve Gunderson support the bill, along with Kleczka and Aspin.
A similar bill (S.1874) was introduced last year in the Senate by Sen. Herb Kohl (D-Wis.) and co-sponsored by Sen. Robert Kasten (R-Wis.). Hearings on the bill in both the Senate and the House are expected to begin this spring.
/CONTACT: Dennis Decker of Johnson Controls, 414-274-4762/ CO: ST: Wisconsin IN: SU:
KK -- CL010 -- 6982 03/10/92 15:10 EST