New report details huge impact of energy efficient investments
A new report recently detailed the impacts of energy efficiency investments, policies, and innovation across a variety of sectors, including residential and commercial buildings, industry, and transportation.
The Energy Efficiency Impact Report – conducted by the Alliance to Save Energy, the American Council for an Energy-Efficient Economy, and the Business Council for Sustainable Energy – looks at the energy savings, job growth, and reduced carbon emissions that have resulted from energy efficiency initiatives.
It found that investments in energy efficient measures have prevented a 60 percent increase in energy consumption and carbon emissions. Further, they are responsible for half of the carbon dioxide emissions reductions in the U.S. power sector since 2005.
The report also points out the six most impactful energy efficiency policies. They include fuel economy standards, appliance and equipment energy efficiency standards, ENERGY STAR, utility sector efficiency programs, federal research and development, and building energy codes. These six policies and programs saved an estimated 25 quadrillion BTUs of energy in 2017, which represents 23 percent of total U.S. energy use.
The researchers also took a look ahead and determined that the opportunities are even bigger going forward. The growth in smarter technologies and more responsive energy management could lead to new savings opportunities. These technologies alone could deliver more than 40 percent of the carbon reductions globally to meet Paris Agreement climate targets. However, it finds that the U.S. is currently not on this track to achieve these reductions. There is even a concern they could fall back as total domestic energy efficiency investment levels have fallen by 18 percent in recent years.
“There’s no question that greater energy and carbon reductions are technically and economically feasible through more ambitious action on energy efficiency, the question is will we treat this with the urgency it deserves,” Clay Nesler, president of the Alliance to Save Energy, said. “This report shows that energy efficiency has been, and must continue to be, the leading solution to address the worsening climate emergency while simultaneously growing our economy and improving the health of our communities.”
The report uses 54 indicators to quantify energy efficiency impacts. Further, it examines progress in a variety of sectors, including utilities, buildings, industry, and transportation.
“Energy efficiency can slash US energy use and greenhouse gas emissions by 50 percent by 2050, getting us halfway to our climate goals,” Steve Nadel, executive director of the American Council for an Energy-Efficient Economy, said. “Given the urgency of the climate threat, we need robust investments in energy-efficient appliances, buildings, vehicles, and industrial plants.”
