Washington, D.C. – U.S. Senator Russ Feingold introduced new legislation today that helps to create jobs by supporting energy efficiency projects.  Feingold’s Community Revitalization Energy Conservation (CREC) Act is the latest addition to his E4 initiative aimed at fueling job creation and spurring economic development.  The legislation will help ease the costs of going green for homeowners and businesses by expanding the types of projects that are eligible for Qualified Energy Conservation Bonds (QECBs).  New projects eligible for the bonds include those that help reduce energy consumption in privately owned buildings, particularly those that reduce the upfront costs homeowners and businesses must pay for energy efficiency and conservation upgrades.  Projects that could qualify for the funding include heat-fuel saving measures like insulation, electricity-saving measure like lighting and appliances, water-saving measures like low-flow shower heads and toilets, renewable energy generating devices like photovoltaic solar installations, storm water management like rain barrels, or other measures that also result in reduced energy use. 

 “I’ve heard from business and labor leaders and others in Wisconsin about the tremendous potential for energy efficiency retrofits to generate more green-collar jobs,” Feingold said.  “This legislation will accomplish that by helping to break down financial barriers to going green.  It encourages energy efficiency initiatives, creates jobs and helps address our nation’s energy crisis.  Energy efficiency and conservation are in our national interest for our long term economic well-being and security.” 

“This is great leadership from Senator Feingold,” said Joel Rogers, a national leader in efforts to retrofit the nation’s building stock who is also a Professor at the University of Wisconsin. “The effort we’re trying in Milwaukee, Me2 (Milwaukee Energy Efficiency), would immediately benefit from this sort of bond availability.” 

Feingold’s bill would also more than quadruple the size of the bond program from $800 million to $3.6 billion available in tax credit bonds for energy conservation and efficiency projects.  Increasing the size of the Qualified Energy Conservation Bond program will mean more support for energy efficiency improvements in homes and commercial buildings across the country.  For example, this effort could create green-collar jobs in Wisconsin for programs like Milwaukee’s proposed Me2 program that promotes the installation of energy efficiency upgrades in buildings.  

Senator Feingold’s bill is fully offset.  It is endorsed by the Air Conditioning Contractors of America, National Electrical Contractors Association, and the Plumbing-Heating-Cooling Contractors-National Association.