Energy efficiency could save trillions of euros, according to IEA
According to a new report from the International Energy Agency (IEA), energy efficiency could save trillions of euros in energy management in the decades ahead. As the report explains – and as leading voltage optimisation providers EcoAdapt (http://www.ecoadapt.co.uk) understands fully – clean-energy technology is key in the bid to reduce carbon emissions worldwide, but energy efficiency is also vital.
The fact that the latest report from the IEA highlights improved energy efficiency as central to the task of better energy management could not come at a more pertinent time. The report was released in the same week that the European Parliament, Commission and Council prepare their final negotiations on controversial energy efficiency plans. Some EU member states have rejected the binding energy efficiency targets put forward in the proposed directive. IEA Executive Director Maria van der Hoeven urged national leaders to “think again” about the rejections, calling for “strong government policy action” in order to further develop energy saving technology and encourage global energy efficiency.
In the report, the IEA estimates that it would cost $36 trillion (€28 trillion) until 2050 to cut carbon emissions by 50% compared to 2005 levels and limit the long-term rise in global temperatures to 2 degrees Celsius. If current policies remain unchanged, this figure would be on top of the $100 trillion (€79.7 trillion) investment, which is believed to be required in the energy sector. The IEA study claims that the cost of this investment would be paid for three times over in terms of energy savings, however. As the ‘Energy Technology Perspectives 2012’ report puts it, “It is difficult to overstate the importance of energy efficiency, which is nearly always cost-effective in the long run, helps cut emissions and enhances energy security.”
Besides recommending investments in efficiency and renewable energy, the IEA also calls for development of “smart grids” that reduce waste in electricity transmission. EcoAdapt has already discussed the challenges facing the UK smart grid, however voltage optimisation technology is certainly in line with the IEA’s goals of regulating power, maximising energy efficiency and meeting carbon reduction targets. To discover more about EcoAdapt’s patented voltage regulation solution go to http://www.ecoadapt.co.uk.
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