In a just-released study, the Union of Concerned Scientists (UCS) found that "if Congress passed climate and energy legislation that strengthened the energy efficiency and renewable energy standards in [the ACES bill] the House of Representatives approved last June, consumer electric and natural gas costs would be $113 billion lower by 2030, and emitters would pay 4 percent less in compliance costs." Read the entire analysis here. 

Using an analysis done by the U.S. Energy Information Administration (EIA) for comparison, UCS analyzed the costs and benefits of the ACES bill with a stronger, 25-percent-by-2025 national renewable electricity standard and a separate energy efficiency resource standard requiring utilities to reduce consumer and business electricity use by 10 percent by 2020.

Compared with EIA's August 2009 analysis of the current House bill, a strengthened bill would provide the following benefits by 2030:

• Reduce ratepayers utility costs by a cumulative $113 billion. Households would save $51 billion, commercial business would save $42 billion, and industrial customers would save $20 billion compared to the current House bill. Increased renewable energy use would encourage competition and diversify the energy mix, leading to more stable energy prices and lower electricity and natural gas prices. Gains in efficiency would reduce energy use, which would save ratepayers even more. 
• Reduce carbon allowance prices for polluters by more than 4 percent. Stronger standards for efficiency and renewable energy would help low-cost technologies overcome key market barriers so they can play a larger role in reducing emissions than would be possible with carbon allowances alone. Once deployed, efficiency and renewable energy would help lower carbon prices.
• Reduce gross domestic product by less than one-tenth of 1 percent. The EIA analysis of the current House bill showed that a national climate and energy policy would have a minimal effect on the overall U.S. economy. UCS found that a stronger bill would have a comparable effect.
• Increase renewable electricity generation (excluding hydropower) 23 percent.
• Increase efficiency and reduce total electricity sales 6 percent.
• Avoid the need to build additional electricity capacity equivalent to nearly 50 new nuclear reactors.