Obama announces nearly $4 billion of energy upgrades to public and private buildings
The Obama Administration announced $4 billion in combined federal and private sector energy upgrades to buildings over the next two years. According to the White House, these investments will save billions in energy costs, promote energy independence, and create tens of thousands of construction jobs.
The $4 billion investment includes a $2 billion commitment to energy upgrades of federal buildings using long-term energy savings to pay for up-front costs.
In addition, 60 CEOs, mayors, university presidents, and labor leaders committed to invest nearly $2 billion of private capital into energy efficiency projects; and to upgrade energy performance by a minimum of 20% by 2020 in 1.6 billion sf of office, industrial, municipal, hospital, university, community college and school buildings.