© Federal Ministry for Economic Affairs and Energy; data from IEA
Energy efficiency really pays off
In an international comparison, German citizens are the ones that benefit most from measures geared towards improving energy efficiency. According to findings by the IEA, German citizens reduced their energy costs by $580 (almost €500) in 2016 and if no energy efficiency measures had been undertaken since 2000, German households’ energy-related costs would have been 27 per cent higher. This means that in total, German households cut energy-related costs by $45 billion (€38.3 billion) in 2016.
These figures were stated by Fatih Birol, the IEA’s Executive Director, on 5 October at the Federal Ministry for Economic Affairs and Energy in Berlin, as he presented the 2017 Energy Efficiency Market Report. The report shows that energy efficiency measures not only help eliminate greenhouse gas emissions and improve security of supply, but also hugely benefit households.
Energy efficiency is key to transforming energy supply around the world
The IEA’s report states that global improvement in energy efficiency is the main reason why energy-related greenhouse gas emissions have been stagnating since 2014. If no action on energy efficiency had been taken since 2000, global energy consumption would have been 12 per cent higher in 2016. This means that energy efficiency is key to transforming energy supply, not only in Germany and Europe, but also in an increasing number of countries worldwide.
In the last legislative term, the Federal Government has adopted the National Action Plan on Energy Efficiency (NAPE), which updates and enhances its energy efficiency toolbox. It has particularly topped up funding for incentives for saving energy, with a total of around €17 billion in funding available under the Federal Ministry for Economic Affairs and Energy’s energy efficiency programmes between 2016 and 2020.
Energy efficiency is a billion-dollar market, that offers huge business opportunities. According to the IEA, global investment in energy efficiency stood at $231 billion in 2016. The IEA’s Energy Efficiency Market Report, which is published annually, analyses the developments on the energy efficiency markets, specific trends in individual countries, industries and technology sectors, and the policy and regulatory frameworks governing energy efficiency around the world.