Keeping Electricity Affordable and Reliable
By Steve Kiesner Director of National Accounts, Edison Electric Institute | October 2008
With the cost of all energy supplies rising, the nation's electric power industry is committed to ensuring that electricity, one of our most versatile energy sources, remains affordable and reliable. We are investing in the nation's electricity system today. And we are advocating public policy positions to ensure that the supply of electricity can meet the country's ever-growing demand tomorrow.
These supply-side measures will take time, but they are essential to keeping electricity affordable and reliable. In the meantime, hotels, and indeed all electricity customers, can help by making sure that they are getting the most value they can from each dollar they spend on electricity.
The good news is that you have many resources waiting to help your company to improve its energy efficiency. The nation's new energy law, the Energy Policy Act of 2005, is one source. Another is the electric company or companies that serve your business. I encourage you to take advantage of both. There is always room for greater savings. And as you know, these savings can add up to greater profitability.
The Energy Policy Act of 2005 contains a variety of initiatives and incentives to boost the country's overall energy efficiency. One way is by setting higher energy-efficiency standards for new commercial products that use large amounts of energy.
Among the technologies targeted for higher efficiency standards are:
The energy law also offers $2.7 billion in tax deductions and credits to encourage homes and businesses to purchase high efficiency products and appliances. For example, commercial buildings that are built to exceed by 50 percent the energy efficiency rating of a "baseline" building in the American Society of Heating Refrigeration Air Conditioning Engineer's (ASHRAE) building code 90.1-2001 can qualify for a tax deduction of $1.80 per square foot.