Paper cites real world examples from states including Illinois, Michigan, Maryland and Utah
AUSTIN, Texas (July 13, 2017) – CLEAResult, a leader in designing and implementing technology-enabled energy efficiency programs for utilities, today released a white paper titled, “Creating Customer and Investor Value Through Energy Efficiency.” The white paper shows how four states innovated to improve their regulatory systems, giving utilities meaningful financial incentives to empower their customers to reduce energy consumption. The new white paper is a follow-up to a previous report titled, “Lower Spending, Higher Returns.”
According to the study, Michigan, Illinois, Utah and Maryland have all found unique ways to align utilities’ interests with those of their customers to both expand energy efficiency offerings and lower costs, while increasing shareholder value and earned returns. For example, the state of Michigan recently put into effect a new comprehensive energy policy, which includes an energy efficiency goal and enhanced incentive mechanism, and introduces an integrated resource planning process.
“Customer preferences and expectations are changing rapidly, and energy efficiency gives us tools to better serve and empower customers to manage their energy use and monthly bills,” said DTE Energy Manager for Strategy in Michigan, Manish Rukadikar, who participated in a May webinar about the CLEAResult white paper. “We’re very excited about the 2016 Michigan energy legislation which we believe will yield better outcomes for customers, enable more rapid deployment of new technologies, and help us adapt to the changing energy landscape.”
“Any state wishing to lower system costs and empower its citizens to better control energy use while providing financial incentives to utilities could adopt one of these progressive models,” said co-author Doug Lewin, vice president of regulatory affairs and market development at CLEAResult. “There are infinite possible variations, so states can, and should, continue to focus on regulatory innovation as a way to benefit their citizens.”
“The regulatory tools exemplified by these four states prove that regulatory systems can result in wins for all stakeholders,” said co-author Peter Kind, executive director at Energy Infrastructure Advocates. “It’s possible to create a system that provides meaningful incentives to utilities for empowering their customers to use less energy. This both lowers costs and increases earned returns and shareholder value, while increasing customer engagement and satisfaction.”
For more information, download the paper “Creating Customer and Investor Value Through Energy Efficiency” here.
CLEAResult is the largest provider of energy efficiency programs and services in North America. Through proven strategies tailored to clients’ unique needs and market dynamics, the combined strength of experienced energy experts and technology-enabled service offerings help CLEAResult change the way people use energy for hundreds of utility and business partners. Founded in 2003, CLEAResult is headquartered in Austin, Texas, and has close to 3,000 employees in more than 70 cities across the U.S. and Canada. CLEAResult is a portfolio company of General Atlantic, a leading global growth equity firm. For more information, visit clearesult.com.
Edelman for CLEAResult