Consider this: the average household in the
United States spends more than $2,000 each year on energy bills, with
appliances accounting for a significant percentage of that total. To illustrate
this point, the chart, left, shows how much energy a typical appliance uses per
year and its corresponding cost.
When we look at this chart, we see
opportunity. We see great potential to reduce energy waste and lower utility
bills for American families. That’s why President Obama has made energy
efficiency a top priority for his Administration. For example, in his State of
the Union Address this year, the President set a bold new goal: to cut in half the
energy wasted in our homes and businesses over the next 20 years.
Part of how we will achieve that goal is by making appliances more energy efficient. Not only will that help Americans keep more money in their pockets, it will also curb pollution and spark innovation that creates jobs and ultimately brings better products to the marketplace.
That’s why we are proud to announce today that
the Department of Energy has finalized new energy efficiency standards for
microwaves, which will save consumers billions on their energy bills over the
coming decades and prevent 38 million metric tons of carbon emissions – the
equivalent of taking 12 million new cars off the road for one year. These
standards will go into effect starting in 2016.
Notably, the underlying analysis of these
standards includes an update to the social cost of carbon values, which draw on
the best available science to calculate the benefits of reducing greenhouse gas
emissions, as discussed in this year’s Economic Report
of the President. The total net benefits of the new microwave
standards, including the updated social cost of carbon, are up to $4.6 billion.
Of course, this is just our latest step
forward. During the President’s first term, by partnering with manufacturers
and forging bipartisan support, the Administration established new appliance
standards for nearly 40 different products. Taken together, they will save
consumers close to $400 billion and reduce carbon emissions by 1.7 billion
metric tons by 2030.
Moving forward, we intend to build on this
strong record of success. By advancing energy efficiency – in our homes, our
businesses, and the transportation sector – we make real progress in promoting
energy security and addressing global climate change.
To learn more about choosing energy efficiency
appliances for your home, click here.
