Energy efficiency has become the world’s ‘hidden fuel’ and has the potential to stimulate massive economic growth, according to a new report from the International Energy Agency (IEA), writes Edie.net.
Entitled ‘Capturing the multiple benefits of efficient energy’, the report ramps up the pressure on the European Council of Ministers, which will decide upon its 2030 energy saving target in the next few weeks.
The study challenges the assumption that the broader benefits of energy efficiency cannot be quantified. One example of this comes when the report analyses the true value of energy efficiency measures for businesses. When productivity and operational benefits for industrial companies are integrated into the traditional internal rate of return calculations, the payback period for energy efficiency measures dropped from 4.2 to 1.9 years.