SemiLEDS (LEDS), Cree (CREE) Move Higher on Proposed Energy Savings Bill

SemiLEDS (Nasdaq: LEDS) and Cree (Nasdaq: CREE) are higher on the session on introduction of the The Energy Savings and Industrial Competitiveness Act of 2011. The bill is being proposed by Senators Jeanne Shaheen (D-NH) and Rob Portman (R-OH).

What the Bill Would Do
BUILDINGS

• Strengthens national model building codes to make new homes and commercial buildings more energy efficient while working with states and private industry to make the code-writing process more transparent. Creates a goal of achieving net-zero-energy building by 2030.
  
• Enables customers of rural electric co-operatives to make efficiency upgrades to their homes and businesses by establishing loan programs that they can repay through their utility bills.
  
• Kick starts private sector investment in commercial, industrial and municipal building efficiency upgrades and renovations by expanding the existing Department of Energy (DOE) Loan Guarantee program to include efficiency retrofits.

APPLIANCES

Provides standards on outdoor lighting, residential HVAC, residential appliances, and other appliance products based on agreements between manufacturers and efficiency advocates.
MANUFACTURERS

• Helps manufacturers reduce energy use and become more competitive by working with states to establish a revolving loan program to help finance efficiency upgrades.
  
• Encourages the DOE to work with private sector partners to invest in the research, development and commercialization of innovative energy efficient technology and processes for industrial applications.
  
• Establishes a DOE program ¡V SupplySTAR - to help make companies¡¦ supply chains more efficient.

FEDERAL GOVERNMENT

• Requires the federal government ¡V the single largest energy user in the country -- to adopt energy saving techniques for computers, saving energy and taxpayer dollars.
  
• Requires agencies to share best practices for advanced metering technology to remotely monitor and better manage energy usage of government buildings.
  
• Allows federal agencies to use existing funds to update plans for new federal buildings, using the most current building efficiency standards.
  
• Clarifies that Energy Service Companies (ESCOs) can be used by federal agencies to install.

To read more on the topic, click here.

Cree is up about 1.8 percent, while SemiLEDS is about 22 percent better today.

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