Today, President Barack Obama and former President Bill Clinton announced nearly $4 billion in federal and private funding to upgrade the energy performance of 1.6 billion square feet of private and public building stock. Through a Presidential Memorandum, President Obama committed $2 billion for investments in energy efficiency in public buildings financed through energy performance contracts – a financing method that pays for upgrades with energy bill savings at no cost to taxpayers. The remaining $2 billion comes from private sector commitments as part of the Better Buildings Challenge.
The announcement builds on the June 2011 Clinton Global Initiative America commitment to upgrade the efficiency of 300 million square feet of building space with $500 million of private sector financing. The Energy Future Coalition has partnered with the City of Atlanta, an original Better Buildings Challenge partner, which has so far committed to reduce energy use by 20% in 16 million square feet of downtown building stock by 2020. For more information on our work in Atlanta, click here.
The Energy Future Coalition would specifically like to congratulate the many Rebuilding America partners and stakeholders who were highlighted as partners in the most recent expansion of the Better Buildings Challenge. For a complete list of Better Buildings Challenge partners, click here.
About Rebuilding America:
The Energy Future Coalition has been working to improve the energy efficiency of America’s buildings through its Rebuilding America initiative since 2009. Rebuilding America is a broad-based coalition of labor, businesses, utilities, manufacturers, and policy groups that have come together to foster a robust, self-sustaining energy efficiency industry that will cut energy waste in 50 million U.S. homes and businesses by 2020.
Click here for a full list of Rebuilding America endorsers.
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