Energy efficiency can help to save more than half a trillion US dollars
Baku, Azerbaijan, July 10
By Leman Zeynalova – Trend:
If countries implement all the economically viable energy efficiency potential available today, consumers around the world could save more than half a trillion US dollars through lower energy bills by 2040, Trend report citing the International Energy Agency (IEA), as it has established an independent high-level global commission to examine how progress on energy efficiency can be rapidly accelerated through new and stronger policy action.
“The IEA sees energy efficiency as critical for successful clean energy transitions,” Executive Director of IEA Fatih Birol said. “It has huge potential to start making an immediate difference if governments act now and act decisively.”
IEA believes that more than any single fuel, energy efficiency has a central role to play in meeting global sustainable energy goals.
The IEA calculates that with the right policies, the global economy could double in size by 2040 while still maintaining broadly the same level of energy use as today. Those policies alone would enable the world to achieve more than 40 percent of the emissions cuts needed to reach international climate goals using cost-effective technologies already available, according to IEA analysis.
But policy implementation has slowed and efficiency progress is weakening. Global energy-related CO2 emissions increased last year at their highest rate since 2013, and air pollution continues to be linked to millions of premature deaths each year, according to IEA.
“It is imperative that we get global energy efficiency progress back on track,” said Birol.
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