The fastest, cheapest way to cut emissions
Energy efficiency has been proven as a simple, cost-effective way to reduce carbon emissions and is available now using safe, existing technologies. Implemented on a large-scale, energy efficiency could provide Australia with 55% of its greenhouse gas abatement by 2050, much of it at an economic benefit.
But Australia’s energy efficiency potential is still waiting to fully realised and continues to face on-going challenges
Why energy efficiency works
Energy efficiency offers many more benefits than just reducing greenhouse gas emissions.
Energy efficiency can:
- cut electricity bills, saving money for all energy users – small and large
- decrease demand on electricity networks during peak periods
- reduce the need for costly network infrastructure
- be implemented now using existing technologies
- ‘buy time’ for other carbon reduction solutions to be developed
Energy efficiency statistics
- The International Energy Agency’s World Energy Outlook 2009 estimates that energy efficiency measures will provide 65% of world emissions abatement to 2030.
- A 2007 ABARE study estimated energy efficiency would directly account for 55% of Australia’s abatement by 2050, much of it at an economic benefit.
- McKinsey’s 2008 analysis estimates that by 2030 up to 100Mt of mostly energy efficiency measures (about 1/6 of Australia’s 2005 total emissions) could be delivered at zero or negative cost.
- The Australian Sustainable Built Environment Council’s 2008 building sector analysis estimates that approximately 60Mt of abatement (over 10% of Australia’s 2005 total emissions) is available from energy efficiency in the building sector alone to 2030, at a profit of $130 per tonne.