new study from the Becker Friedman Institute has challenged the economic benefits of energy efficiency for consumers. “The study of households who received federal subsidies to “weatherize” their homes found the efficiency investments cost far more than they save. So consumers may not be irrational when they pass up such investments: the programs simply aren’t as beneficial as their promoters think.

The paper has important implications for current efforts to reduce planet-warming emissions of carbon dioxide. Energy efficiency programs are politically popular but may be far more expensive than mechanisms that rely on price signals.” [WSJ]

Jersey City officials are aiming to make city buildings more energy-efficient by implementing audits every three years. Environmental firm Greener By Design will conduct the initial $10,000 energy analysis, including carbon and greenhouse gas footprint analysis, of all city buildings to identify what energy conservation measures can be implemented to maximize energy savings and energy efficiency.

“We can’t wait to take action on climate change and in Jersey City we are developing real solutions and a definitive road map to reduce our carbon footprint,” Jersey City Mayor Steve Fulop said. [NJ.com]

Renewable energy will supply the majority of Australia’s electricity by 2040 according to predictions by energy analysts. “It will account for 59% of Australian electricity generation by 2040, as retiring coal and gas plants are replaced by wind and solar, according to New Energy Outlook 2015, which was published by Bloomberg New Energy Finance on Tuesday.

The study said a continued fall in renewable energy prices would fuel the shift, and that Australia’s power sector would fundamentally change regardless of government policy.” [The Guardian]