Global efficency investment tops $220bn a year
Source: Energy Live News
Global investment in energy efficiency is now worth $221bn annually. This is two-thirds greater than investment levels in conventional power generation, according to the International Energy Agency’s 2016 annual market report on energy efficiency.
In an upbeat summary of worldwide trends, the Paris-based agency records a very positive picture for energy saving, even at a time when international fuel prices-driven by oil- have been falling dramatically. “Energy efficiency is the only energy resource possessed by all countries,” it says.
In his foreword, IEA director, Fatih Birol, stresses “all of the core imperatives of energy policy -reducing bills, decarbonisation, air pollution, energy security, and access to fuel- are made more attainable if led by strong energy efficiency policy.”
The IEA states that “public policy has been the key driver of efficiency improvements.” In particular, the Agency stresses the progress made via the adoption of purposeful codes and standards, whether for buildings or for products. Even so, universal adoption of even average standards could up efficiency levels by 30 per cent. Following best practice could increase effectiveness by between 50 and 60 per cent.