Smart Energy Act would expand the use of third-party performance contracting to increase energy efficiency in Federal buildings.
Washington, D.C., February 16, 2012 – Ingersoll-Rand plc (NYSE:IR), a world leader in creating and sustaining safe, comfortable and efficient environments, welcomes a new bill introduced by Representative Charles F. Bass (R-NH) and Representative Jim Matheson (D-UT) that will help increase the energy efficiency of Federal buildings through the use of third party performance contracting. In addition, new provisions will expand the current Department of Energy loan guarantee program to include building energy-efficiency projects.
The Smart Energy Act (H.R. 4017) seeks to increase and accelerate the Federal government's ability to capitalize on the latest technology in building efficiency and better coordinate data and information concerning energy usage. The bill will help the Federal government achieve greater energy efficiency by ensuring that it is utilizing the latest and most robust technologies and delivering return on investment competitive with the private sector.
"Improving energy efficiency is a vital part of reaching our goal and strategy to achieve energy independence and security, and providing more opportunities for private industry to utilize energy efficient technologies and systems will spur advancements in this field while at the same time cutting our energy costs," said Representative Bass. "Starting with the federal government as a 'first adopter' of these practices will help to encourage new investments and save taxpayer money. I thank Ingersoll Rand for their support of this critical legislation and their efforts to promote effective energy policies in our nation."
While the development of renewable energy sources should be a critical element of the nation's energy strategy, more attention should be paid to wise energy-efficiency programs in the building sector. Because buildings today can consume as much as 40 percent of all energy usage in the United States, Ingersoll Rand believes that stimulating more energy-efficiency policies will ultimately provide taxpayers with greater savings and help reduce greenhouse gas production.
"Representative Bass' proposed bill allows the Federal government to maximize its energy usage by solidifying and streamlining the relationship between the government and private sector so the government has access to the latest technology to manage energy, data and information," said John W. Conover IV, chairman of Ingersoll Rand's Sustainability Advisory Council and senior vice president. "Today's increased pressure on Federal budgets and resources, as well as ongoing volatility in energy markets, make this bill a strong candidate for broad bipartisan support to help achieve savings and security for taxpayers while making smart investments in the nation's broad energy infrastructure."
Ingersoll Rand also applauds several additional components in the bill including: establishing best practices for advanced metering; creating a Federal energy management and data collection standard; and expanding the use of computer energy saving technologies in Federal agencies.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) is a world leader in creating and sustaining safe, comfortable and efficient environments in commercial, residential and industrial markets. Our people and our family of brands - including Club Car®, Ingersoll Rand®, Schlage®, Thermo King® and Trane® - work together to enhance the quality and comfort of air in homes and buildings, transport and protect food and perishables, secure homes and commercial properties, and increase industrial productivity and efficiency. Ingersoll Rand is a $14 billion global business committed to sustainable business practices within our company and for our customers. For more information, visit www.ingersollrand.com.
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