Can energy efficiency be a potent tool in our fight against global warming?
Energy efficiency is the smartest sustainable energy avenue.It is difficult to argue on this.
Not surprisingly, energy efficiency can also significantly contribute in our fight against climate change.
If I can make do with less energy to get the same job done, obviously I am emitting less CO2 for that activity!
There is significangt untapped potential in energy efficiency. Under realistic conditions and assumptions, if large scale energy efficiency programs are implemented, the International Energy Authority estimates a 28% reduction in energy intensity by 2035, or savings of around 6.5 Gtoe (giga tonnes of oil equivalent) in primary energy consumption. There will be corresponding reduction in the amount of CO2 emitted.
Some studies in fact suggest that energy efficiency will be a must-have component in the emissions reduction portfolio if we are to achieve ambitious targets. According to these studies, by 2030 energy savings could have an abatement potential of around 11 Gigatons equivalent of CO2 per year – a massive number.
Energy efficiency provides two key benefits:
- Reductions in emissions, natural resource depletion and biodiversity loss
- Economic benefits as a result of the profitability of energy-efficiency investments
The second aspect (good economic benefits in the form of short payback periods) makes investments in energy efficiency quite attractive for businesses.
The good news from this front is that, trends in industrial energy intensity (energy needed to produce one unit of something) show a marked decline in the past two decades, with some estimates suggesting a 20% decrease in energy intensity.
