November 15, 2022
The announcement comes on the one-year anniversary of President Biden’s signing bipartisan infrastructure bill enacted, with Shaheen as a key negotiator.
Shaheen has led energy efficiency policy in the US Senate in the past, including landmark provisions she included in the bipartisan infrastructure bill with Senator Rob Portman (R-OH).
(Washington, DC) — US Senator Jeanne Shaheen (D-NH) commended the Biden administration’s announcement today that the US Department of Energy (DOE) will provide $250 million to families and businesses through the Energy Efficiency Revolving Loan Fund Capitalization Grant Program will provide. which was founded Infrastructure Investment and Jobs Act (IIJA). Shaheen was the IIJA’s chief negotiator.
“Investing in energy efficiency policies is a low-hanging fruit when it comes to meeting our country’s energy needs and helping families and businesses keep bills down – it’s a win-win for everyone,” said Shaheen. “That’s why I’ve long prioritized policies that pursue energy efficiency solutions, and that’s also why I’ve had bipartisan success to see these efforts become law, including the great opportunities announced today thanks to the bipartisan infrastructure bill.” There are a number of federal programs that Granite Staters can participate in that are saving them money today, both through the bipartisan Infrastructure Act and the Inflation Reduction Act, which are especially important as the coldest months hit. I encourage the state of New Hampshire to participate in this latest opportunity through the Department of Energy so our families and businesses have access to additional tools to help them cut costs.”
“Having just last month’s shock of energy bill hikes, Granite Staters looking for relief will find it in the latest funding for energy-saving upgrades and audits provided by the bipartisan Infrastructure Act,” said Cathy Corkery, Sierra Club chapter director and senior organizing representative. “This is not a band-aid until next winter, these programs will not only lower your energy bills this year, they will lower costs in the future and can increase the value of homes and businesses well into the future.” The flexibility of federal funding allows the state to provide technical assistance to those most in need, low-income and fixed-income households, and small businesses as they see fit. It will also provide targeted funding for underfunded communities, which too often are at the bottom of the list. That’s the best news from Senator Shaheen’s office!”
A revolving loan fund is an “evergreen” source of funding for energy efficiency and clean energy projects, as monies from repaid loans are continuously recycled as loans for additional projects. Funding from this program allows states to establish or enhance robust revolving credit fund programs that provide energy efficiency loans to commercial and residential building owners and mobilize capital from private, philanthropic and other sources to amplify the impact of federal funding. States can also use up to a quarter of the funding for grants and technical assistance for low-income homeowners and small businesses. The DOE will work with states to ensure revolving loan fund programs prioritize disadvantaged communities facing underinvestment in energy efficiency deployments.
Shaheen also successfully incorporated key energy efficiency components from her bipartisan bill with Senator Portman (R-OH) – the Energy Savings and Industrial Competitiveness Act (ESIC) – into the final legislation that became law. By 2040, the American Council for an Energy Efficient Economy (ACEEE) estimates that the legislation would save consumers $5 billion in energy bills and reduce carbon emissions, the equivalent of taking 116 million cars off the road. In addition to the ESIC, the bipartisan Infrastructure Act also includes the Smart Manufacturing Leadership Act, legislation introduced by Shaheen and Portman that will help manufacturers improve energy efficiency, create jobs and secure a better competitive marketplace. The bipartisan Infrastructure Act also includes Shaheen and Portman’s Promoting American Energy Jobs Act and Shaheen’s Heat Efficiency through Applied Technology (HEAT) Act. Manufacturers and support the energy workers. Shaheen added those provisions when the Senate Committee on Energy and Natural Resources voted to move forward with the Energy Infrastructure Act last year.
As a Senior Appropriator, Senator Shaheen has consistently secured federal funding to help low-income households pay their energy bills and stay safe during the winter. Last month, Shaheen joined a bipartisan coalition of senators pushing for the rapid release of funds for the Low Income Home Energy Assistance Program (LIHEAP). Shaheen also champions the Weatherization Assistance Program and other energy efficiency initiatives to help Granite Staters keep their energy usage down and lower their monthly bills. Shaheen recently hosted a panel discussion at Southern NH Services’ Sundance Village to highlight the federal funds available to help Granite Staters with home heating bills this winter. She also published a federal resource page to help New Hampshire families navigate the programs and tax incentives available to them to keep costs down.
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