Building Momentum

On June 28, 2012, in White House 2.0, by Obama Watcher

As of this week, more than 100 public and private sector partners have come together through President Obama’s Better Buildings Challenge which supports job creation by catalyzing private sector investment in commercial and industrial building energy. Just yesterday, 36 new States, local governments, and school districts joined the growing list of partnerships that are proving how modernizing our country’s buildings to become more energy efficient creates jobs, cuts energy costs, and reduces pollution. Combined, these commitments bring the total square footage of buildings enrolled in this public-private partnership to 2 billion, the equivalent of more than 34,000 football fields.

This announcement also adds $300 million in new estimated investments in building energy upgrades to the nearly $4 billion in public and private sector financial commitments that were announced in December 2011.

Last year, commercial buildings consumed roughly 20 percent of all the energy used by the U.S. economy. With the help of former President Clinton and the President’s Council on Jobs and Competitiveness, President Obama’s Better Building’s Challenge will help make America’s buildings 20 percent more efficient over the next decade, while reducing energy costs for American businesses by nearly $40 billion.

The Federal government is also committed to creating jobs and cutting costs by investing in energy efficiency in Federal buildings. Since President Obama signed a Presidential Memorandum last December directing Federal agencies to invest at least $2 billion in two years in building energy efficiency, agencies have identified $2.1 billion in such projects – all paid for with savings through energy savings performance contracts with no up-front cost to taxpayers.

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