Press Release, Office of Energy Efficiency and Renewable Energy.
The Energy Department announced today the results of a major national evaluation during a typical year in the State Energy Program (SEP) operations, as well as during the American Recovery and Reinvestment Act (ARRA) period. The results reaffirm the Energy Department's long-standing commitment to drive economic development and reduce carbon emissions at the state level.
The purpose of the study was to develop independent key outcomes for program year 2008 and the ARRA time period from 2009–2013.
In surveying results from 2008, a year funded at $33 million, the study determined that for every SEP dollar spent, program participants received $4.50 in bill savings over the lifetime of the measures installed (at a 2.7% discount rate).