Avoided energy use attributable to energy-efficiency investments undertaken since 1974 has resulted in a contribution outstripping the annual consumption of oil, natural gas, electricity, and coal, according to a report by the International Energy Agency, a global NGO.
An analysis of energy consumption in 11 IEA member countries indicates that avoided annual energy use in 2010 was 63 exajoules, or the equivalent of 1.52 billion tonnes of oil. This avoided energy use was larger than the countries' consumption of oil (43 EJ), electricity and natural gas (22 EJ each), and coal (less than 10 EJ).
The equivalent cost of oil for 63 exajoules of energy would have been about $420 billionUS. (Countries included in the analysis were Australia, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom, and the United States.)
Investments in energy efficiency measures have also reduced the amount of energy needed to produce each unit of gross domestic product, according to the report. As of 2011, total investment in energy efficiency resembled the supply-side investment in renewable or fossil-fuel electricity generation.
However, fossil-fuel development benefits from a much higher level of government subsidies than energy-efficiency measures. In 2011, fossil fuels were the recipient of more than $500 billion in global subsidies, compared with less than $100 billion in subsidies for renewable energy (below).
Table: Global investments and subsidy in selected areas of the energy system, 2011. Source: IEA.
The IEA indicates that governmental policy interventions are the most significant stimulant for energy-efficiency investments. High energy prices are also triggering expansion of the energy-efficiency market, though subsidies for fossil fuels continue to artifically reduce the price consumers pay for energy.
Performance improvements in buildings are targeted as an important factor in continued reduction of global energy use. The report discusses notable investments in this area by Germany, New Zealand, France, and Mexico, mainly involving residential construction.
For the medium term, the IEA predicts that private investment enabled by favorable government policies, rather than direct public investment, will continue to represent the greatest source of funding for energy-efficiency projects.
Influential changes in codes and standards in Canada, France, Germany, South Korea, China, Japan, and the U.K. should drive growth in the energy-efficiency sector. For the U.S., new standards for appliances and continued growth in the ESCO industry may be significant.
Continued savings should be possible during the next decade, according to the agency, perhaps amounting to about 7% of 2010's total global consumption--or greater than the combined current energy use of Australia, Japan, Korea, and New Zealand.
Click here for the full report.
The editors thank Grumman / Butkus Associates for bringing this report to our attention.
Related Stories
| Apr 5, 2012
5 tips for a successful door and window retrofit
An exclusive tip sheet to help the Building Team manage door and window retrofits successfully.
| Apr 4, 2012
San Antonio animal hospital earns LEED Platinum certification
Middleman Construction Company builds the city?s first commercial building to earn certification.
| Apr 3, 2012
Product Solutions
Two new PV systems; a lighter shelf; and fire alarm/emergency communication system.
| Apr 3, 2012
Blaine Brownell on innovative materials applications in architecture
Brownell, who was named a BD+C 40 Under 40 in 2006, provides insight regarding emerging material trends and the creative implementation of materials.
| Apr 3, 2012
AGC Glass to reopen shuttered plant
Shuttered since 2008, the plant produces clear and tinted float glass serving architectural glass markets.
| Apr 3, 2012
SSOE acquires MEP Firm CRS Engineering & Design Consultants
The acquisition will expand SSOE’s Southeastern U.S. presence, broaden CRS’s reach to international markets, and provide both firms’ clients access to enhanced services and resources.
| Apr 2, 2012
Mitsubishi unveils ultra-high-speed elevator for Shanghai skyscraper
The operation of the elevator is scheduled to begin in 2014.
| Apr 2, 2012
Sachse Construction helps complete Salt Lake City’s City Creek Center
Sachse was hired to complete store build-outs at City Creek Center.
| Mar 29, 2012
U.K.’s Manchester Airport tower constructed in nine days
Time-lapse video shows construction workers on the jobsite for 222 continuous hours.
| Mar 29, 2012
Roller shade operating system wins IF Product Design Award
Design experts in the iF jury recognized the engineering invested in the RB 500 Roller Shade, including a metal clutch with a patented construction, a durable zamac housing with polished finish, and a chain drive unit that excels in maximum operating comfort.