Business

There is no silver bullet for reducing this burden, but energy efficiency is a grossly undervalued solution, particularly as we work simultaneously to tackle the climate crisis in way that promotes environmental justice. In fact, given energy efficiency’s ability to reduce costs, cut pollution and create jobs, I would argue that the conversation so many of us are having about environmental justice and climate policy — and that the White House put in the headlines last week — should start with energy efficiency. Consider that energy consumption in the U.S. and related emissions would be about 60 percent higher today if not for the efficiency gains we’ve made since 1980, which has saved consumers $800 billion annually on energy bills. Consider that one efficiency program alone — the Departme...

But while the executive actions will have a big impact — millions of Americans are behind on their rent and mortgage payments, and tens of millions more hold student loan debt — it’s clear that their effect on the broader economy will be limited at best. “It’s on the margins,” said Diane Swonk, chief economist at Grant Thornton. “It needs to be more than that.” What the country needs the most is an influx of cash, Swonk and other economists say, but for that the new president is entirely dependent on lawmakers if he wants to turn the economy around. And despite Democrats’ slim majorities in both chambers, Biden’s path toward victory on Capitol Hill remains dotted with landmines. He could try to work with Republicans and risk a stalemate or months of inaction, angering his own base. He coul...