If energy efficiency rules and eco-design product standards were harmonised across the globe, the savings in energy and greenhouse gas emissions would be enormous, a new European Commission study has found. Up to 7,600 TWh of electricity would be saved by 2030 – a 13% reduction on the business as usual scenario
Global energy efficiency and eco-design measures could save the equivalent to almost double the annual electricity consumption of the United States making an estimated €280 - €410 billion in savings on energy spending, the European Commission says.
At the same time, 4,450 Mt of carbon emissions would be avoided – equal to an estimated 7% of emissions in 2030. This would be the equivalent to the emissions of 1,170 coal-fired power stations, or more than the entire carbon emissions of the EU in 2012.
The study also found that global energy efficiency standards could create 1.7-2.5 million additional jobs by 2030 as more jobs are created in the manufacturing sector. Some jobs would be lost in the energy sector, however the energy sector has a relatively low rate of jobs per unit of turnover compared to the wider economy, the study says.
It also noted that the EU would be well placed to benefit from global energy efficiency measures given its leading position on energy efficiency.
Report available here..
This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 646511