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This blog post is the second in a three-post series on understanding and increasing investments by businesses and individuals in energy efficiency. In the first post, we discussed current energy efficiency investments in the United States, which we estimate total about $60-115 billion per year. This number includes investments driven by policy, private market investments, and a mix of the two. In this post, we explore who invests in energy efficiency and why, focusing on mainstream businesses and consumers. The third and final post will build on the first two and discuss approaches that could increase efficiency investments in the future.