Jim Madej is the CEO of Franklin Energy, a U.S. company that delivers smart energy management solutions for utilities through a portfolio of products and services that lowers costs, reduces carbon and waste, and grows stronger communities and local economies.
Energy affordability has been a critical topic for decades. However, between recent federal legislation and U.S. inflation soaring to a forty-year high, the topic has gotten a lot more media attention.
Sixty-one percent of Americans are living paycheck to paycheck. These factors have combined to highlight the energy burden many working families must face and have made the energy disparity in disadvantaged communities even more apparent.
Too many households are forced to make the impossible decision between paying their power bill and putting food on the table. For that reason, looking holistically as a nation at the state of energy affordability has never been more important.
We all recognize the inherent value of shifting to a more equitable energy system. That means one where the economic, health, and social benefits of participation extends to all levels of society, regardless of ability, race, or socioeconomic status.
Yet despite this, achieving energy affordability has been tenuous at best. Different regulations, politics, and unique circumstances state to state have historically prevented quality offerings that could have a real impact from taking shape.