This story has been updated from 11:30 am EST with comments from a conference call with the report's authors and state officials.

NEW YORK (TheStreet) -- Massachusetts and California save more money for consumers and businesses through energy efficiency than any other states, according to a new report.

These states top a new list from the 2014 State Energy Efficiency Scorecard that ranks which states do the best job lowering energy costs, reducing pollution and saving consumers and businesses money in the long run by increasing energy efficiency.

Now in its eighth year, the State Scorecard, compiled by the nonprofit organization, American Council for an Energy-Efficient Economy (ACEEE), and released on Wednesday, measured states' efficiency across six policy areas -- utility policies and programs, transportation initiatives, building energy codes, combined heat and power development, state government-led initiatives and state-level appliance standards.

For the fourth year in a row, Massachusetts was ranked the most energy efficient. Massachusetts overtook California in 2011. Rounding out the top five states in energy efficiency are California, Rhode Island, Oregon and Vermont. The latter three tied for third place.

States are ramping up their commitments to energy efficiency, according to a statement from ACEEE. Savings from electricity efficiency programs in 2013 (the most recent full-year data) totaled about 24.4 million megawatt-hours, up 7% from 2011, the ACEEE said. Gas savings were up 19% over 2011.

"While many states are leading the way and others are beginning to make strides in energy efficiency .... there is vast potential for energy efficiency" that has yet to take place, said Maggie Molina, ACEEE Utilities, State and Local Policy program director. "There is much work yet to do."

Here are the 12 states at the top of the list.

12. Michigan

Total Score: 26 (out of 50)

Utility & Public Benefits Programs/Policy: 12.5 (out of 20)

Transportation Policies: 4 (out of 9)

Building Energy Codes: 3.5 (out of 7)

Combined Heat & Power: 1.5 (out of 5)

State Government Initiatives: 4.5 (out of 7)

Appliance Efficiency Standards: 0 (out of 2)

11. Illinois

Total Score: 27 (out of 50)

Utility & Public Benefits Programs/Policy: 9 (out of 20)

Transportation Policies: 5 (out of 9)

Building Energy Codes: 6 (out of 7)

Combined Heat & Power: 1.5 (out of 5)

State Government Initiatives: 5.5 (out of 7)

Appliance Efficiency Standards: 0 (out of 2)

10. Minnesota

Total Score: 29 (out of 50)

Utility & Public Benefits Programs/Policy: 14 (out of 20)

Transportation Policies: 3.5 (out of 9)

Building Energy Codes: 4.5 (out of 7)

Combined Heat & Power: 1.5 (out of 5)

State Government Initiatives: 5.5 (out of 7)

Appliance Efficiency Standards: 0 (out of 2)

9. Maryland

Total Score: 30 (out of 50)

Utility & Public Benefits Programs/Policy: 10.5 (out of 20)

Transportation Policies: 5 (out of 9)

Building Energy Codes: 6 (out of 7)

Combined Heat & Power: 3 (out of 5)

State Government Initiatives: 5 (out of 7)

Appliance Efficiency Standards: 0.5 (out of 2)

8. Washington

Total Score: 33.5 (out of 50)

Utility & Public Benefits Programs/Policy: 13 (out of 20)

Transportation Policies: 7 (out of 9)

Building Energy Codes: 6 (out of 7)

Combined Heat & Power: 2.5 (out of 5)

State Government Initiatives: 4.5 (out of 7)

Appliance Efficiency Standards: 0.5 (out of 2)

7. New York

New York and California led the way in energy-efficient transportation policies. New York is "one of the few states in the nation to have a concrete vehicle-miles-traveled reduction target," the ACEEE press release said.

Total Score: 35 (out of 50)

Utility & Public Benefits Programs/Policy: 13.5 (out of 20)

Transportation Policies: 8 (out of 9)

Building Energy Codes: 5.5 (out of 7)

Combined Heat & Power: 2 (out of 5)

State Government Initiatives: 6 (out of 7)

Appliance Efficiency Standards: 0 (out of 2)

6. Connecticut

Total Score: 35.5 (out of 50)

Utility & Public Benefits Programs/Policy: 14 (out of 20)

Transportation Policies: 5 (out of 9)

Building Energy Codes: 5 (out of 7)

Combined Heat & Power: 4.5 (out of 5)

State Government Initiatives: 6 (out of 7)

Appliance Efficiency Standards: 1 (out of 2)

3. Vermont -- tied with Rhode Island and Oregon

Total Score: 37.5 (out of 50)

Utility & Public Benefits Programs/Policy: 18.5 (out of 20)

Transportation Policies: 6 (out of 9)

Building Energy Codes: 6 (out of 7)

Combined Heat & Power: 3 (out of 5)

State Government Initiatives: 4 (out of 7)

Appliance Efficiency Standards: 0 (out of 2)

3. Rhode Island - tied with Vermont and Oregon

Making the top five list for the first time, Rhode Island was one of two states to receive a perfect score for its utilities policies and programs.

Total Score: 37.5 (out of 50)

Utility & Public Benefits Programs/Policy: 20 (out of 20)

Transportation Policies: 5 (out of 9)

Building Energy Codes: 6 (out of 7)

Combined Heat & Power: 3 (out of 5)

State Government Initiatives: 3 (out of 7)

Appliance Efficiency Standards: 0.5 (out of 2)

3. Oregon - tied with Rhode Island and Vermont

Total Score: 37.5 (out of 50)

Utility & Public Benefits Programs/Policy: 15 (out of 20)

Transportation Policies: 7 (out of 9)

Building Energy Codes: 5.5 (out of 7)

Combined Heat & Power: 3.5 (out of 5)

State Government Initiatives: 5.5 (out of 7)

Appliance Efficiency Standards: 1 (out of 2)

2. California

California was the only state to receive the maximum points for building energy codes and also scores high for its transportation policies as well as state-led efficiency initiatives.

Total Score: 40.5 (out of 50)

Utility & Public Benefits Programs/Policy: 12.5 (out of 20)

Transportation Policies: 8.5 (out of 9)

Building Energy Codes: 7 (out of 7)

Combined Heat & Power: 4 (out of 5)

State Government Initiatives: 6.5 (out of 7)

Appliance Efficiency Standards: 2 (out of 2)

1. Massachusetts

For the fourth year in a row Massachusetts made the top of the list fueled by its Green Communities Act of 2008. Massachusetts and Rhode Island were the only two states to receive perfect scores for their utilities policies and programs.

Total Score: 42 (out of 50)

Utility & Public Benefits Programs/Policy: 20 (out of 20)

Transportation Policies: 7 (out of 9)

Building Energy: 5.5 (out of 7)

Combined Heat & Power: 4.5 (out of 5)

State Government Initiatives: 5 (out of 7)

Appliance Efficiency Standards: 0 (out of 2)

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-- Written by Laurie Kulikowski in New York.

Follow @LKulikowski

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.