The proposed bipartisan energy efficiency legislation could help US consumers and businesses save billions of pound on their energy bills, new research reveals.

Savings of more than $65 billion (£40.9bn) could be made, according to the American Council for an Energy-Efficient Economy (ACEEE), referring to the ‘Energy Savings & Industrial Competitiveness Act’ introduced by Senators Jeanne Shaheen and Rob Portman which is still pending consideration from the US Senate.

The bill has been designed to boost the use of energy efficient technologies in the residential, commercial and industrial sectors. The analysis claims it could also help create more than 152,000 jobs by 2025, increasing to 174,000 by 2030 and cut greenhouse gas emissions by 676 million metric tons by 2030.

Steven Nadel, ACEEE Executive Director said: “The Senate should act quickly to pass this important legislation. The provisions we analysed have the power to save consumers money, stimulate the economy and protect the environment.”

US manufacturers have welcomed the bill and are calling for the Senate to approve it.

Ross Eisenberg, Vice President of energy and resources policy at the National Association of Manufacturers said: “As users of one-third of our nation’s energy, manufacturers are directly affected by the cost of energy and we believe policies should promote research, development and deployment of energy-efficient technologies.

“Manufacturers support the Shaheen-Portman bill, a set of common sense, bipartisan energy efficiency measures that would create jobs by saving energy in industrial, commercial and residential sectors.”