Full Title: The Incredible Inefficiency of the Fossil Energy System
Author(s): Daan Walter, Kingsmill Bond, Amory Lovins, Laurens Speelman, Chiara Gulli, and Sam Butler-Sloss
Publisher(s): Rocky Mountain Institute
Publication Date: September 23, 2024
Full Text: Download Resource
Description (excerpt):
Today’s fossil energy system is incredibly inefficient: almost two-thirds of all primary energy is wasted in energy production, transportation, and use, before fossil fuel has done any work or produced any benefit. That means over $4.6 trillion per year, almost 5% of global GDP and 40% of what we spend on energy, goes up in smoke due to fossil inefficiency.
The winds are changing, though, as fossil technologies are undercut by more efficient alternatives. End-use efficiency is driving out fossil fuels, reinforced by three new tailwinds that upend the energy landscape: renewable electricity, localization, and electrification. These drivers will allow us to drastically cut down on energy waste and phase out fossil fuels.