Bill of the Day: Investing in the SAVE Act
Updated on March 1st, 2024.
Monument Avenue, Richmond. Image credit: Andre Eanes
Why Should Virginia Invest in the SAVE Act?
The cheapest, most impactful unit of energy is the one that isn’t used. Often the least-cost way for utilities to meet customer electricity demand is by reducing demand through energy efficiency programs, which improve existing infrastructure rather than having to build new power generating sources. Energy efficiency programs help Virginians reduce the amount of energy used at home while still maintaining function, safety, and comfort. By reducing their residential energy use, these programs help Virginians save money and strengthen the state’s grid resilience by lowering energy demand.
We need to ensure that this low-cost resource is deployed effectively by utilities in order to benefit all Virginians. The SAVE Act will strengthen Virginia’s utility energy efficiency programs by ensuring that our energy savings targets continue to improve at a reasonable, achievable rate that match the standards of other states.
Several pieces of legislation proposed in the General Assembly this year can strengthen energy efficiency across the Commonwealth. You can take a deeper dive into implementing energy efficiency in Our Common Agenda. To learn more, read our “Cutting Energy Bills & Air Pollution With Energy Efficiency” policy paper.
Energy Efficiency Bills to Support in the General Assembly
Legislators have introduced the SAVE Act to support energy efficiency programs:
(Delegate Michael Webert) The “SAVE Act” will strengthen utility energy efficiency programs by strengthening the Energy Efficiency Resource Standard (EERS) energy saving targets. Additionally, it will require the State Corporation Commission (SCC) to establish a single cost-effectiveness test, streamlining the current process and granting them the authority to approve new utility energy efficiency programs. Companion to SB 565.
(Senator Creigh Deeds) The “SAVE Act” will strengthen utility energy efficiency programs by strengthening the Energy Efficiency Resource Standard (EERS) energy saving targets. Additionally, it will require the State Corporation Commission (SCC) to establish a single cost-effectiveness test, streamlining the current process and granting them the authority to approve new utility energy efficiency programs. Companion to HB 746.
Take Action
Bills to support the SAVE Act have passed the House and Senate! Reach out and thank legislators for supporting these bills.