Energy efficiency is being called upon to deliver substantially more savings in more targeted ways as electric companies and states pursue decarbonization and grid modernization goals. Achieving future savings will require innovative approaches, as the easiest and least expensive efficiency gains already have been made in many places. Meeting the challenges associated with delivering more energy efficiency will require both policy and program changes. A large minority of states effectively still penalize electric companies for promoting energy efficiency through business models that do not allow for revenue adjustments in response to reduced sales, let alone provide financial incentives. Even states that have created supportive policy frameworks for energy efficiency will need to ensure that decarbonization policies, including beneficial electrification, do not work against efficiency programs that target reduced sales.
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