17 October 2013 - In its “Energy Efficiency Market Report 2013”, the International Energy Agency (IEA) names energy efficiency as the world’s largest energy resource, providing further evidence that the EU will need to put energy efficiency first in its 2030 framework for climate and energy policies in order to meet its goals for security, competitiveness and growth.
“This new report shows that energy efficiency is making its way into the traditional supply side management” says Stefan Scheuer, Secretary General of the Coalition for Energy Savings. “It is time for the European Commission to end its neglect of energy savings, the largest energy resource, in its projections, which underpin EU decisions.”
According to “Energy Efficiency Market Report 2013”, the avoided energy use resulting from energy efficiency improvements between 1974 and 2010 in eleven IEA member countries (including France, Germany, the United Kingdom and five other EU Member States) was equal to 65% of total final energy consumption in the year 2010, making energy efficiency the IEA’s “first fuel”.
But energy efficiency still remains a largely untapped resource, with two-thirds of its economic potential unrealised in the period leading up to 2035.
The EU now has the opportunity to turn that around by making a binding 40% energy savings target the cornerstone of a 2030 framework for climate and energy policies, as the Coalition for Energy Savings argued in a recent position paper.
A 40% target would cover the EU’s cost-effective energy savings potentials and make possible the following benefits listed by the IEA in its report: extended energy supplies, increased energy security, reduced carbon emissions and sustainable economic growth.
The IEA states in its “Energy Efficiency Market Report 2013” that government policy is a key driver for growth in energy efficiency markets, meaning that the time is ripe for the EU to make use of the 2030 legislative framework to act swiftly and effectively on energy efficiency.
“Energy Efficiency Market Report 2013” was released alongside market reports for oil, gas, coal and renewable energy.
Download the full press release here.