After a year’s worth of haggling with the state’s utility companies, Massachusetts officials yesterday unveiled a set of ambitious energy efficiency standards that some say are unequaled in the nation.
To meet the new standards – a 2.4 percent reduction in electricity use across the state, and a 1.15 percent reduction in natural gas use – the state’s utilities will invest approximately $2.2 billion in expanding efficiency measures like home energy audits, weatherization, and rebates for home appliances, over three years.
The aim is to triple the number of consumers in Massachusetts who make improvements to their homes to reduce their energy use. The money, much of it expected to go toward incentives for utility customers, will come from a combination of sources: third-party financing, revenue from the state’s participation in carbon credit auctions, an existing energy efficiency charge on utility bills, and a modest increase in rates for customers.
Officials say they expect those costs to be offset by roughly $6 billion in efficiency-related savings over the life of the program.
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