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Oct. 31, 2011: Report Says Energy Efficiency Funding Can Create 1 Million Jobs

October 31, 2011
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CHICAGO — A new report, sponsored in part by the Appraisal Institute, outlines ways to finance as much as $150 billion per year in energy efficiency projects that would yield double-digit financial returns and create 1 million jobs. The Appraisal Institute is the nation’s largest professional association of real estate appraisers.

“Energy Efficiency Financing: Models and Strategies” by Capital-E and partner organizations says that within 10 years, investment at this level would save U.S. businesses and households $200 billion annually and would create more than 1 million new full-time jobs. This level of funding represents a more than five-fold increase from current levels of about $20 billion per year and would cost effectively make the American economy more competitive, enhance national security, and help slow the impact of climate change, according to the findings.

“This important report reflects our commitment to providing insight into market trends and to supporting the appraisal industry’s critical role in valuing the impact of all property features, including green and energy efficient buildings,” said Joseph C. Magdziarz, MAI, SRA, president of the Appraisal Institute. “As the real estate valuation industry’s leader, the Appraisal Institute is in the forefront of preparing appraisers to analyze energy efficient buildings.”

With the end of the 2011 fiscal year, some $40 billion in public stimulus funding for energy efficiency and clean energy is winding down, leaving a large financing gap that only the private sector can fill, says the report. “Energy Efficiency Financing: Models and Strategies” describes how the private sector can quickly and cost effectively expand private investment in energy efficiency.

The Appraisal Institute was among the major real estate and industry organizations that helped develop the report by Capital-E, which also partnered with five of the 10 largest U.S. banks. Partners involved in the development of the report included Citigroup, JP Morgan, the National Association of State Energy Officials, the Energy Foundation, and the American Council for an Energy-Efficient Economy (ACEEE).

For a copy of the report, go to www.cap-e.com/Capital-E/Energy_Efficiency_Financing.html.

Publication date: 10/31/2011

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