Ameresco Supports Inclusion of Energy Efficiency and Renewable Energy under Clean Power Plan
EPA releases final rule for Clean Power Plan, supports broad use of energy efficiency and renewable energy.
FRAMINGHAM, MA – August 4, 2015 – Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, encourages the use of energy efficiency and renewable energy in state efforts to comply with the final rule of the Clean Power Plan released by the U.S. Environmental Protection Agency (EPA) yesterday.
“Energy efficiency is the most cost-effective, self-funded strategy to reduce greenhouse gas emissions while saving energy and creating jobs,” said George Sakellaris, President and Chief Executive Officer of Ameresco. “We encourage states to adopt strategies that promote public-private partnerships for energy efficiency and renewable energy to reduce emissions under the plan.”
Yesterday, the EPA released the final rule for the Clean Power Plan which establishes carbon pollution standards for existing power plants under Section 111(d) of the Clean Air Act. According to the EPA, the plan is designed to reduce nationwide carbon dioxide emissions from the power sector by 32 percent, from 2005 levels, by 2030.
The Clean Power Plan provides for a variety of strategies states can utilize to reduce greenhouse gas emissions. This includes, but is not limited to, demand-side energy efficiency, renewable energy, and emissions credit trading. Under the rule, states are required to develop and submit plans to the EPA by 2018 and the period for mandatory reductions will begin in 2022.
The final rule emphasizes the role of energy efficiency as a key compliance tool and provides states with guidance for how to incorporate third-party financed (non-ratepayer) energy efficiency projects, such as energy savings performance contracts, into broader strategies to comply with the plan. The company believes that this marks a significant improvement to the proposal released last year. The EPA also clarified that such projects would be eligible for emission reduction credits.
The final rule also encourages increased renewable energy generation and encourages the early deployment of investments in wind and solar energy, as well as demand-side energy efficiency in low-income communities, by providing states with incentives for early action. Ameresco will continue to advocate the EPA to provide early credit for all third-party financed energy efficiency projects.
“There is tremendous potential for energy savings performance contracting and distributed generation to support the Clean Power Plan, and we will continue to advocate for states to maximize those opportunities,” said Sakellaris. “As a trusted sustainability partner, Ameresco strives to provide integrated energy solutions that also support environmental stewardship.”
About Ameresco, Inc. Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.