True costs and value of energy for economic and public benefit

(a) Energy productivity assessments (1) Baseline assessment Not later than 2 years after the date of enactment of this Act, the Secretary of Energy, in consultation with the Task Force established under subsection (c) of this Act, shall publish a comprehensive baseline assessment of energy productivity in the United States, which shall, at a minimum— (A) define a framework and methodology for measuring energy productivity as the relationship between energy inputs and the economic or societal value of the work performed by those inputs, at the national, regional, and sectoral levels; (B) evaluate current energy productivity performance at the national, regional, and sectoral levels; (C) identify barriers to improved energy productivity across economic sectors; and (D) highlight opportunities for improvement through technology, policy, behavioral, or structural interventions. (2) Periodic national energy productivity reporting Not later than 6 months after the publication of the baseline assessment under paragraph (1), and at least quarterly thereafter, the Administrator of the Energy Information Administration shall publish a report on energy productivity in the United States using the same measures of economic output in each sector and nationally as those used in the estimates of labor productivity published by the Bureau of Labor Statistics. The Administrator of the Energy Information Administration shall coordinate with the Secretary of Labor on such energy productivity reports so the publication of such energy productivity reports is on the same timeline as the reporting of labor productivity by the Bureau of Labor Statistics. (3) National energy productivity modeling Not later than 18 months after the date of enactment of this Act, and every three years thereafter, the Secretary of Energy shall produce a comprehensive National Energy Productivity Assessment using existing Federal modeling tools and data systems. The assessment shall— (A) quantify the direct and indirect economic, environmental, health, and societal impacts of achieving accelerated energy productivity improvements, relative to a business-as-usual scenario, at the national, regional, and sectoral levels; (B) analyze potential policy pathways to enhance competitiveness, reduce energy costs, increase resilience, and support job creation; (C) evaluate how such improvements affect national and regional well-being, including reductions in pollution, energy costs, public health burdens, water use, and economic vulnerability; (D) evaluate risks associated with delayed action, including stranded asset exposure and competitiveness losses; and (E) include, as appropriate, recommendations for Federal policies, programs, and research priorities to support sustained energy productivity gains. (4) Reports on energy productivity and competitiveness Not later than 2 years after the date of enactment of this Act, the Secretary of Energy shall submit to Congress a report detailing how improvements in energy productivity in the United States affects United States competitiveness in key economic sectors, including manufacturing, services, and energy-intensive industries. The report shall include modeling scenarios, investment implications, and policy options to maximize national economic benefits from improved energy productivity. (b) Improving energy indicators (1) Standardized reporting on energy indicators (A) In general Not later than 18 months after the date of enactment of this Act, the Task Force established under subsection (c) of this Act shall develop standardized methodologies for collecting, evaluating, assembling, analyzing, and disseminating data and other information on the following indicators: (i) National energy potential, where the term national energy potential means the theoretical maximum amount of energy physically present within a country’s geographic boundary, including the country’s Exclusive Economic Zone, across all energy forms, including— (I) energy stocks for— (aa) oil and gas, in units of chemical energy, which includes— (AA) proven reserves as determined by the Energy Information Administration; (BB) probable reserves as determined by the Energy Information Administration; (CC) undiscovered technically recoverable resources as determined by the United States Geological Survey; and (DD) undiscovered unrecoverable resources as determined by the United States Geological Survey; (bb) coal, in units of chemical energy, which includes identified and undiscovered resources, as determined by the United States Geological Survey; and (cc) nuclear fuel, in units of fissionable energy from reasonably assured, estimated additional, and speculative uranium and thorium resources, as determined by the Energy Information Administration; and (II) energy flows for— (aa) solar energy, in units of annual total Global Horizontal Irradiance; (bb) wind energy, in units of annual kinetic energy from wind at hub heights and atmospheric conditions consistent with commercial wind energy applications, as determined by the Department of Energy; (cc) hydropower energy, in units of annual gravitational potential energy from inland water flows that, at a minimum, could power a micro hydropower plant, as determined by the Department of Energy; (dd) geothermal energy, in units of annual subsurface thermal energy at a subsurface depth of 10 kilometers or less, or under temperature, pressure, and geological conditions suitable for energy extraction, as determined by the Department of Energy; (ee) biomass-based energy, in units of annual chemical energy, including primary resources, and secondary and tertiary residues, as determined by the Department of Energy; and (ff) marine energy, in units of annual mechanical, thermal, and chemical potential energy in the Exclusive Economic Zone of the United States. (ii) Technically-accessible energy potential, where the term technically-accessible energy potential means the theoretical maximum amount of national energy potential that can be accessed and converted into usable energy using existing commercially-available technologies and industry-standard practices, without regard to cost or policy. (iii) Cost-qualified energy potential, where the term cost-qualified energy potential means the theoretical maximum amount of technically-accessible energy potential that could be profitably developed and delivered as usable energy under current or anticipated near-term economic conditions, as determined using prevailing market prices, technology costs, and industry-standard practices, considering existing ordinances and regulations and current industry practices for siting for energy stocks and energy flows. (iv) Market-viable energy potential, where the term market-viable energy potential means the amount of cost-qualified energy potential that is already online or likely to be developed and brought online in practice, at the time of reporting in subsection (b)(1)(B)(ii). (v) Secondary energy, where the term secondary energy — (I) means the amount of energy resources that have been converted into intermediate carriers electricity generation; (II) represents energy forms that can be stored, transported, distributed, or further converted before final consumption; and (III) includes, but is not limited to, electricity, refined fuels (such as refined petroleum products, hydrogen, or synthetic fuels), and district heat. (vi) Final energy, where the term final energy — (I) means the amount of secondary energy in the form delivered for end-use consumption for consumption in buildings, transportation, industrial processes, or other sectors or applications; and (II) includes, but is not limited to, electricity, refined fuels (such as refined petroleum products, hydrogen, or synthetic fuels), and district heat. (vii) Useful energy, where the term useful energy — (I) means the amount of final energy that is effectively converted into the desired service or output after accounting for energy losses during end-use conversion; and (II) includes lighting, mechanical work and motion, heating and cooling, chemical process energy, and any other end-use services delivered to meet a desired function. (viii) Exergy, where term exergy means the amount of usable energy and resulting work obtainable from a system or energy stream, accounting for both the quantity and quality of energy. (ix) Exergy efficiency, where the term exergy efficiency means the extent to which the exergy is preserved and converted into valuable economic or societal services during their use for a given system, sector, or economy. (B) Incorporation of new indicators in department reporting (i) In general Not later than 2 years after the initial development of the standardized methodologies under paragraph (1), the Secretary of Energy shall, as part the Department of Energy’s modeling frameworks, scenario analysis tools, and energy outlooks, collect, evaluate, assemble, analyze, and disseminate data and other information related to the indicators listed in clauses (i) through (ix) of subparagraph (A). (ii) Covered reporting The modeling frameworks, scenario analysis tools, and energy outlooks described in clause (i) include— (I) the Annual Energy Outlook; (II) to the maximum extent possible— (aa) the Monthly Energy Review; (bb) the International Energy Outlook; (cc) the State Energy Data System; and (dd) the Short-Term Energy Outlook; and (III) any successor model or analysis to a model or analysis described in subclauses (I) and (II). (C) Transparency and documentation The Administrator of the Energy Information Administration shall publish and maintain detailed documentation on how the Task Force developed the methodologies under subparagraph (A). (2) Study on primary energy indicators (A) Required study The Secretary of Energy, with support from the Administrator of the Energy Information Administration, relevant offices within the Department of Energy, and the Task Force, shall conduct a comprehensive study on the validity, limitations, and potential alternatives to the use of the indicators for primary energy in national energy accounting. (B) Scope of study The study shall include— (i) an evaluation of the conceptual basis and historical rationale for the current indicator for primary energy calculated and reported by the Energy Information Administration; (ii) an assessment of the limitations of primary energy accounting in accurately reflecting energy efficiency, energy transitions, and the value and comparability of combustible and non-combustible energy sources; (iii) an analysis of alternative indicators, including secondary energy, final energy, useful energy, and exergy, and their suitability for integration into national energy statistics; (iv) a review of international best practices for energy accounting, including methodologies used by the International Energy Agency and peer nations; and (v) recommendations for improvements or replacements to the primary energy indicator that better align with national goals for energy efficiency, electrification, decarbonization, and economic productivity. (C) Report to Congress Not later than 18 months after the date of enactment of this Act, the Secretary of Energy shall submit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report containing the findings and recommendations of the study required under subparagraph (A). (c) Establishment of energy productivity and cost task force (1) Establishment Not later than 180 days after the date of enactment of this Act, the Secretary of Energy shall establish an advisory group, to be known as the Energy Productivity and Value Task Force (in this Act referred to as the Task Force), which shall be led by the Secretary of Energy. (2) Membership (A) Federal agencies The following heads of Federal agencies shall serve as members of the Task Force: (i) The Secretary of Energy. (ii) The Secretary of Commerce. (iii) The Administrator of the Environmental Protection Agency. (iv) The Administrator of the Energy Information Administration. (v) The Chairman of the Federal Energy Regulatory Commission. (vi) The Administrator of the National Oceanic and Atmospheric Administration. (vii) The Director of the United States Geological Survey. (viii) The Assistant Secretary for Health of the Department of Health and Human Services. (ix) The Director of the Office of Science and Technology Policy. (B) Independent technical experts (i) In general The Secretary of Energy, in consultation with the other heads of Federal agencies listed in subparagraph (A), shall appoint independent technical experts as members of the Task Force, which shall consist of independent technical experts with a demonstrated expertise in— (I) environmental and energy economics; (II) energy technologies, including renewables, fossil fuel systems, bioenergy, and energy storage; (III) public health and environmental epidemiology; (IV) ecology and ecosystem services; (V) industrial engineering and lifecycle assessment; and (VI) any other field the Oversight Board determines relevant for the purposes of this Act. (ii) Number of experts Under subparagraph (A), the Secretary of Energy shall appoint— (I) at least 1 independent technical expert for each field under subclauses (I) through (VI) of such subparagraph; and (II) separate independent technical experts for each such field. (C) Stakeholder representatives The Secretary of Energy, in consultation with the other heads of Federal agencies listed in subparagraph (A), shall appoint stakeholders as members of the Task Force, which shall consist of at least 1, but not more than two, stakeholders that represent each of— (i) the electric power sector; (ii) the renewable energy sector; (iii) the non-renewable energy sector; (iv) consumer advocacy groups; (v) energy-intensive industries; (vi) environmental and public interest advocacy organizations; (vii) the National Academies of Sciences, Engineering, and Medicine; (viii) academic- and National Laboratory-based researchers with expertise in— (I) energy and economics; (II) climate and economics; or (III) environmental systems and economics; and (ix) any other sectors or organizations the Secretary of Energy determines relevant for the purposes of this Act. (3) Termination Notwithstanding section 1013 of title 5, United States Code, the Task Force shall terminate on the date that is 3 years after the date of enactment of this section. (d) Lifecycle impact and costs of energy technologies (1) Comprehensive analytical framework and dataset The Secretary of Energy shall develop and maintain a comprehensive analytical framework and dataset based on the methodology and guiding principles submitted to the Secretary of Energy by the Task Force under paragraph (3). (2) Assessment of lifecycle impacts and costs (A) Development and maintenance The Secretary of Energy shall use the comprehensive analytical framework and dataset developed and maintained under subsection (a) to prepare an assessment of the full lifecycle impacts and costs of producing and delivering energy services from each major energy resource or technology, including impacts and costs from upstream, operational, and downstream stages from extraction to end-use and waste management. (B) Scope of assessment The assessment prepared under paragraph (1) shall include, for each major energy resource or technology, a complete quantification and characterization of the lifecycle impacts associated with producing and delivering energy services using the resource or technology, including, impacts from— (i) energy inputs and losses, from extraction through end use and waste management, including embodied energy; (ii) material use, including chemical use, and waste generation; (iii) water use, including withdrawals, consumption, quality impacts, and other risks to water availability, quality, and ecosystem function; (iv) pollution and emissions, including emissions of greenhouse gases and other air pollutants, water pollutants, and land disturbance; and (v) indirect and direct costs to social, environmental, and economic well-being resulting from such impacts. (C) Uses of assessment The Secretary of Energy shall use the assessment prepared under paragraph (1)— (i) to develop strategic planning, investment prioritization, policies and programs, and regulatory analysis to limit the social, environmental, and economic costs of energy production and use; (ii) to inform the allocation of grants and making loans and loan guarantees for Federal energy research, development, State and local programs, and demonstrations; and (iii) as a resource for future reports and analyses of energy productivity, recognizing the link between resource impacts and social, economic, and environmental well-being. (D) Updates and availability The Secretary of Energy shall— (i) update the assessment at regular intervals, but not less frequently than once every 3 years; (ii) make the results of the assessment publicly available in a transparent, machine-readable format, including documentation of assumptions, data sources, and methodologies used; and (iii) publish a report describing the lifecycle social, economic, and environmental impacts and costs of producing and delivering energy services from each major renewable or nonrenewable energy resource or technology. (3) Task force methodology and guiding principles (A) In general Not later than the date that is 12 months after the date on which the Task Force is established, the Task Force shall submit to the Secretary of Energy a methodology and guiding principles for the analytical framework and dataset developed and maintained by the Secretary of Energy under paragraph (2), including definitions, the scope of the analytical framework and dataset, data sources, and procedures for periodic review, validation, and updates to such methodology and guiding principles. (B) Reconvening task force for review, validation, and updates If the Secretary of Energy determines that the methodology and guiding principles submitted to the Secretary of Energy under subparagraph (A) are no longer suitable or otherwise require revision, including in response to new data, advances in analytical methods, or changes in statutory or regulatory requirements, the Secretary of Energy may reconvene the Task Force for the sole purpose of submitting to the Secretary of Energy an updated methodology and guiding principles by not later than 90 days after the date on which the Task Force is reconvened. Any reconvened Task Force shall terminate on the earlier of the date on which it submits the updated methodology and guiding principles to the Secretary or the date that is 90 days after the date on which it is reconvened. (e) Definitions In this section: (1) Energy productivity The term energy productivity means a measure of how efficiently an economy, region, or industry uses energy to generate economic value. (2) Major energy resource or technology The term major energy resource or technology — (A) means an energy resource, carrier, or technology and any associated systems for producing, converting, storing, transmitting, or delivering energy services that contribute significantly to the national energy supply, demand, or infrastructure and materially affect energy system performance, emissions, or economic outcomes; and (B) includes— (i) fossil fuels (including coal, petroleum, and natural gas); (ii) nuclear energy; (iii) renewable energy (including solar, wind, geothermal, hydroelectric, marine, and biomass); (iv) hydrogen and other chemical energy carriers and associated systems; (v) energy storage technologies; and (vi) any other energy resources, carriers, or technologies that the Secretary determines may materially affect the performance, emissions, resilience, reliability, or economic outcomes of the national energy system.