Economic Message of the Week: Building Energy Efficiency Projects Net Millions in Funding

The White House has announced a plan to make buildings more energy efficient while driving regional economic growth, according to the Department of Energy

"This unique partnership will not only advance the development of new, energy efficient technologies, it will help local governments, businesses, and homeowners save money on their utility bills by putting the technology to work," said Energy Secretary Steven Chu. "Energy efficient buildings represent one of our best and most immediate opportunities to create jobs, save money and cut carbon pollution."

Federal agencies announced funding opportunities up to $129.7 million to create a research center to develop building efficiency technologies and work with regional partners to implement them. Departments are also working together to drive regional growth through an Energy Regional Innovation Cluster (E-RIC) centered around an "Energy Innovation Hub" focused on energy efficiency technology development.

Buildings account for about 40 percent of U.S. emissions and energy use, and improvements and efficiency will help address both while lowering utility bills.