10/24/2020
A new analysis by Rewiring America, an energy policy organization, finds that households would benefit financially from a complete switch to clean energy sources such as solar and wind. More than 40% of energy emissions are determined by appliances in and around the home, according to the report, such as heating, electricity, refrigeration and car use.
Should all of these related factors be fully electrified and sourced from clean energy, households could save as much as $321bn in energy costs, the report finds, or up to $2,500 a household a year. Households would be faced with the upfront costs of installing solar panels and electric devices such as stovetops and heat pumps, but Rewiring America says strong government assistance for renewables would help deliver long-term savings.
“If we electrify everything, the savings are more than enough to return money to households,” said Adam Zurofsky, executive director of Rewiring America. “Too often we are told doing the right thing for the environment requires sacrifice and costs more. But no one is talking about the upside – we can actually make a better economy and save people money and a byproduct will be to cut emissions from residential buildings.”
As much as $321bn could be saved with complete switch to clean energy sources, Rewiring America analysis finds
