Section 11G. The department of energy resources shall have the authority to oversee and coordinate ratepayer-funded energy efficiency programs. The department shall seek to achieve goals including, but not limited to, the following: (i) ensure that energy efficiency funds are allocated equitably among customer classes; (ii) ensure that there will be adequate support for “lost opportunity” efficiency programs in areas such as new construction, remodeling, and replacement of worn-out equipment; (iii) give due emphasis to statewide market transformation programs in order to systematically eliminate market barriers to energy efficiency goods and services; and (iv) provide weatherization and efficiency services to low-income customers. The department of energy resources shall annually file a report with the department of telecommunications and energy on the proposed funding levels for energy efficiency programs. The department of public utilities shall review and approve energy efficiency expenditures after determining that implementation of such programs was cost-effective. The department shall adopt rules and regulations necessary to implement this section.