Full Title: Why Efficiency Matters: Unlocking Benefits Beyond Climate for All
Author(s): James Newcomb, Yuki Numata, Will Atkinson, Rushad Nanavatty, and Laurens Speelman
Publisher(s): Rocky Mountain Institute
Publication Date: August 23, 2024
Full Text: Download Resource
Description (excerpt):
Today’s energy system is inefficient, wasting two-thirds of global energy production. That means about $4.5 trillion in economic losses every year as well as major health, climate, and other environmental damage that deepen inequities. How do we reduce these impacts?
A large part of the solution will be replacing fossil fuel technologies with rapidly scaling renewable energy and electrification solutions, which are often two to four times more efficient. However, delivering fully on the promise of energy efficiency also means creating more efficient products, buildings and factories, and broader systems.
A whole systems approach to energy efficiency, coupled with a rapid transition to renewable energy, puts our most important climate goals within reach alongside a wide range of benefits. In this article, they demonstrate the key role that efficiency can and should play in making the energy transition faster, more affordable, and more equitable, while doing even more for the Earth than just reducing emissions.