Page 54 - Energize July 2022

VIEWS AND OPINION

progress. The town of Sønderborg what they would have spent in a pathway based on today’s policy settings. The amount of
also hosted a number of technological natural gas that the world would avoid using as a result of this would be equal to four times
showcases for the leaders to visit. what the European Union imported from Russia last year, while the reduced oil consumption
According to the new IEA analysis, would be almost 30 million barrels of oil per day, about triple Russia’s average production
doubling the current global rate of energy in 2021. Compared to today, this global push on efficiency would help create 10 million
intensity improvement to 4% a year has additional jobs in fields ranging from building retrofits to manufacturing and transport
the potential to avoid 95 exajoules (1018) infrastructure.
a year of final energy consumption by The new IEA analysis shows the significant opportunities for rapid energy efficiency gains
the end of this decade compared with a in all sectors of the global economy. Most of these opportunities involve readily available
pathway based on today’s policy settings. technologies and would fully pay for themselves through lower running costs, especially at
This is equivalent to the current annual today’s high energy prices. By 2030, around a third of the avoided energy demand comes
energy use of China. That level of savings from deploying more efficient equipment, ranging from air conditioners to cars. About a fifth
would reduce global CO2 emissions by comes from electrification, such as switching to heat pumps or electric cars. Digitalisation
an additional 5 billion tonnes a year by and use of more efficient materials in industry provide much of the rest.
2030, about a third of the total emissions The new analysis complements the insights on the critical role of energy efficiency and
reduction efforts needed this decade to energy saving measures in addressing today’s global energy crisis that were highlighted by
move the world onto a pathway to net the IEA’s recent 10-Point Plan to Reduce the European Union’s Reliance on Russian Natural
zero emissions by mid-century, as laid out Gas and 10-Point Plan to Cut Oil Use, as well as Playing my part: How to save money, reduce
in the Net Zero Roadmap the IEA published reliance on Russian energy, support Ukraine and help the planet, which was developed in
last year. cooperation with the European Commission.
These extra efficiency efforts would cut
global spending on energy. For example, To read the full IEA report, visit https://www.iea.org/reports/the-value-of-urgent-action-on-
households alone could save as much as energy-efficiency
US$650-billion a year on energy bills by
the end of the decade, compared with Send your comments to rogerl@nowmedia.co.za

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