Why does it have to be MIT? Why not Standard, Harvard, Cal Tech, or UCLA? Regardless of who, I applaud the effort.
According to CNet, MIT's effort to reduce 15% electricity will power almost 5,000 homes. That's not a small effort by any means. Imagine if this effort could be spread to other universities and institutions, it may well make a big dent in energy in America.
Furthermore, the savings from the scale of this effort would be translated into cheaper costs as well.
MIT's effort isn't going to happen overnight. It's a 5-year effort but the savings will come. And that is the difference. While governments and other businesses or schools are still in the planning stages (or just talking about it), others like MIT are doing something about it.
More at CNet.