Department of Energy – Energy Efficiency Standards Cost Less than Estimated

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Washington, D.C.—A new report released today by the American Council for an Energy-Efficient Economy (ACEEE) and the Appliance Standards Awareness Project (ASAP) finds that the U.S. Department of Energy (DOE) has been overestimating the impact that energy efficiency standards for appliances and other products have on their price tags.

Duane Tilden‘s insight:

>Today’s study, entitled Appliance Standards: Comparing Predicted and Observed Prices, looks at nine appliance standards that took effect over the 1998-2010 period and found that DOE overestimated price impacts in every case, usually by a wide margin. ACEEE and ASAP found that across the nine rulemakings, DOE estimated an average increase in manufacturer’s selling price of $148. On average the actual change in price was a decrease in manufacturer’s selling price of $12.

Estimates of the overall benefits of energy efficiency standards for consumers will likely have to be revised as well. In 2012, ACEEE and ASAP released a study estimating that standards for appliances and other equipment would save consumers more than $1 trillion cumulatively by 2035, even after subtracting estimated increases in product prices.

“Energy efficiency standards are proving to be an economic powerhouse, driving even more consumer savings than we realized,” said report co-author and ASAP Executive Director Andrew deLaski.<

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