Arlington, Va. Retail Industry Leaders Association president Sandy Kennedy has issued a statement in response to the introduction of bipartisan and bicameral legislation to create the Rural Energy Savings Program.
Legislation to establish the program was announced on Wednesday by House Majority Whip James E. Clyburn (D-SC) and Ed Whitfield (R-KY) and Senators Jeff Merkley (D-OR) and Lindsey Graham (R-SC). The program will make loans to rural electric cooperatives that will, in turn, provide the money in the form of low-interest micro-loans to consumer residences or businesses for the purposes of making investments in energy-efficient upgrades. Electric cooperatives will pay back the federal loans from consumer loan payments on their electric bills within 10 years of making the consumer loan.
“RILA applauds the bipartisan and bicameral effort to create this meaningful program,” RILA’s statement said. “By providing rural homeowners and businesses with the resources to invest in energy efficiency upgrades, the Rural Energy Savings Program will help save American families and businesses money on their electric bills, reduce pollution, and create jobs. We look forward to working with bill sponsors to pass this legislation so that resources are made available to those who would benefit most.”
RILA is a trade association who’s members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.