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SAVE Act Highlights Importance of Energy Efficiency in Homes
WASHINGTON (June 6, 2013) – The American Chemistry Council (ACC) today applauded Senators Michael Bennet (D-Colo.) and Johnny Isakson (R-Ga.) for reintroducing the Sensible Accounting to Value Energy (SAVE) Act. The legislation would improve the federal mortgage underwriting process by considering the value of energy efficient features during home financing and appraisal for those borrowers who submit a qualified home energy report.
“We commend Senators Bennet and Isakson for their inventive, cost-effective approach to improving energy efficiency. Energy costs are among the biggest expenses of homeownership, and the SAVE Act will help families reduce their mortgage expenses and utility bills, year after year. And it does so in a fiscally responsible way, at no cost to taxpayers.
“As an industry that develops numerous materials and technologies that empower Americans to save energy, we believe energy efficiency is critical to sustainability in homes and buildings. Chemistry and plastics are used for insulation, roofing, piping, windows, air infiltration systems, compact fluorescent lighting, appliances, solar panels and many other energy-saving solutions. Chemistry-derived building technologies could help reduce global energy use by 41 percent and greenhouse gas emission by 70 percent by 2050, when combined with a shift to lower-carbon fuels, according to a recent report by the International Council of Chemical Associations.”
The chemistry industry has made energy efficiency a priority in our operations. The energy efficiency of Responsible Care® companies has improved by more than 10 percent since 1992. Since 1974, the U.S. chemical industry as a whole has improved its energy efficiency by 53 percent. Last month, we recognized member companies for implementing energy efficiency improvements in 2012 that saved 10.6 trillion BTUs—enough to power all the homes in a city the size of Bangor, Maine for one year.
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