WSJ CEO Council Highlights Potential for Energy Efficiency in Buildings.

Last week the Wall Street Journal brought together nearly 100 CEO’s of major U.S. companies to discuss the country’s most important policy issues and the role they will play in fostering economic growth, strengthening the economy and driving job creation.

After a day and a half of discussions, with guest appearances from the likes of Tim Geithner and Larry Summers, the WSJ CEO Council produced some predictable recommendations: cut taxes, foster global trade, etc. As for energy policy, the council’s recommendations were in line with the traditional conservative mantra, as well: work to develop all potential energy sources, but ultimately let the market decide the winners.

Tellingly, however, energy efficiency, and particularly building efficiency, somehow sneaked its way into the narrative as a no-brainer worthy of immediate attention and investment.

Tom Albanese of Rio Tinto noted:

We saw energy efficiency as something that could help our economy lower costs for customers but also, through leadership in energy efficiency, create opportunities to sell technology and products overseas. So it wasn't just an inward looking perspective... There was some discussion about building efficiency. One person pointed out that there's something like 40 to 50% potential for energy savings just in buildings.

Lynn Laverty Elsenhans of the WSJ likewise reported that “the panel expressed support for more government intervention to increase efficiency, and it doesn’t see reductions coming without new policies, including building codes, tax credits and accelerated depreciation.”

With Congress in continued gridlock, with post-election prospects for any sort of comprehensive legislation looking more dire than ever, with tax credits for energy efficient appliances and other home upgrades set to expire at year’s end, and with Home Star festering in Congressional purgatory, we take the CEO Council’s recommendations as a welcome sign that the no-brainer economics of energy efficiency in buildings is finally beginning to take hold on both sides of the aisle, on Wall Street as well as Main Street, and that we may indeed see some progress on this front in the coming months.