Examine finds shifting to 100% clear electrical energy might save common U.S. family $2,500 per yr
A new analysis from Rewiring America shows that moving to 100% clean energy would save Americans up to $ 321 billion in energy costs annually while drastically reducing overall economic greenhouse gas emissions. Saul Griffith and Sam Calisch’s Rewiring America report, “No Place Like Home: Fighting Climate Change (and Saving Money) by Electrifying American Homes,” notes that this can save up to $ 2,585 a year in energy bills every American household would mean. The report builds on an earlier analysis by Rewiring America that found that electrifying clean energy could create 25 million new jobs. Every zip code in the country would see employment gains.
Today, the average American household spends approximately $ 4,470 per year heating and cooling their homes, producing hot water, and driving cars. The transition from fossil fuels and the electrification of the US economy – replacing old fossil-fuel-based machines with electric versions at every opportunity, and switching power generation from dirty sources like coal to clean ones like solar roofs – would bring significant savings to any American.
“As Americans continue to struggle to make ends meet, this analysis offers an exciting and much-needed roadmap to a better future,” said Adam Zurofsky, executive director of Rewiring America. “If we get it right, the electrification of the American household is unique.” Opportunity to create millions of jobs, save families thousands of dollars a year while dramatically reducing our carbon emissions. “
“Rapid electrification with renewable resources for all energy consumption is a crucial element in combating the existential threat posed by global climate disturbances. Rewiring America is showing us how we can do this here in the US while saving consumers money and creating jobs, ”said Jon Wellinghoff, former FERC Chairman and CEO of Grid Policy Consulting.
This report from Rewiring America analyzes what these upgrades would cost each state and the circumstances under which they could save money.
Main findings of the report:
- With the right policies, the average household in any country would be better off economically through electrification. The annual savings would average between $ 1,050 and $ 2,585.
- The US as a whole would save between $ 130 billion and $ 321 billion annually.
- The benefits outlined in the report are purely economic, regardless of any additional benefits electrification would bring in terms of health, climate, lower maintenance costs and more consistent performance.
- Massive industrial growth will be necessary to meet the increased demand for electrical machines and to cause lower costs in the long term.
- New jobs would be created in every zip code in every state in the country.
Message from Rewiring America