America is thinking too small when it comes to energy efficiency, while also making the mistake of “crowding out” economically beneficial investments in energy efficiency by focusing on riskier and more expensive bids to develop new energy sources, according to a major new report from the American Council for an Energy-Efficient Economy (ACEEE).
Titled The Long-Term Energy Efficiency Potential: What the Evidence Suggests, the new ACEEE report outlines three scenarios under which the U.S. could either continue on its current path or cut energy consumption by the year 2050 almost 60 percent, add nearly two million net jobs in 2050, and save energy consumers as much as $400 billion per year (the equivalent of $2600 per household annually).
According to ACEEE, the secret to major economic gains from energy efficiency is a more productive investment pattern of increased investments in energy efficiency, which would allow lower investments in power plants and other supply infrastructure, thereby substantially lowering overall energy expenditures on an economy-wide basis in the residential, commercial, industrial, transportation, and electric power sectors.
Read more...ACEEE | ACEEE Report: U.S. Better Off “Thinking Big” about Energy Efficiency Instead of Focusing First on Development of New Energy Sources