Tuesday, December 18, 2007

Energy Bill Phases Out Incandescent Lightbulbs, Increases CAFE Standards, and Expands Renewable Energy Mandate

The House has passed the energy bill passed in the Senate, which had been modified to take out $20 billion in tax breaks for clean energy.

But what are other key provisions of this bill?

CAFE increase

• Increases the Corporate Average Fuel Economy (CAFE) to 35 miles per gallon by 2020
• Automakers can trade credits to achieve this standard
• According to government estimates, it could lower U.S. crude oil usage by 2 million barrels a day - 8% - by 2030 and save American families an average of $700 to $1000

Renewable Energy Mandate

• Expands biofuel mandate to 36 billion gallons by 2022, versus 6.5 billion gallons today
• Caps ethanol from corn at 15 billion gallons – the rest must come from cellulosic sources

Efficiency and Research
• Increases the efficiency of buildings, homes, appliances, and lighting, carbon dioxide emissions 75 percent, which will save homeowners an estimated $400 billion by 2030
• Incandescent lightbulbs phased out by 2020, cutting energy use from lightbulbs by 60%
• Requires dishwashers and cut water usage 28% and clothes washers by 40%
• Funds carbon sequestration research and renewable energy research