Market Trends and Medium-Term Prospects
The 2015 Energy Efficiency Market Report by the International Energy Agency (IEA) evaluates the impact of energy efficiency in the energy system and assesses the scale and outlook for further energy efficiency investment using detailed country-by-country energy efficiency indicator data and IEA expertise.
Energy Efficiency Market Report 2015 highlights
- Energy security in IEA countries is improving with increased energy efficiency. In 2014 alone, at least 190 Mtoe of primary energy imports were avoided in IEA countries, saving USD 80 billion in import bills.
- Energy efficiency improvements in IEA countries since 1990 have avoided a cumulative 10.2 billion tonnes of CO2 emissions, helping to make the 2 degree warming goal more achievable.
- Investments worldwide in energy efficiency in buildings, which account for more than 30% of global energy demand, are estimated to be USD 90 billion (+/- 10%) and are set to expand.
- Electricity consumption in IEA countries has flattened, partly as a result of energy efficiency improvements. In the face of flat electricity demand, various electricity utilities are diversifying into energy efficiency services businesses to increase profits.
This year’s report includes an in-depth look into the buildings energy efficiency market. The report states that global energy efficiency investment in buildings is projected to increase to over USD 125 billion by 2020, driven in part by expanding efficiency-targeted policies. As energy efficiency codes, standards and programmes are improved and more widely implemented, per-building efficiency investment is projected to increase across most national building markets in the OECD. However, this level is much less than the estimated investment needed –USD 215 billion by 2020– for the buildings sector in the IEA 2 Degree Scenario (2DS).
According to the report, the energy efficiency market will continue to evolve as new cycles of stimulating and stalling forces influence economics and investments. Still, the underlying assessment of the report is that the energy efficiency market can be expected to grow in size, visibility and importance over the next several years. As governments continue to prioritise economic growth, energy security and a healthier environment, energy efficiency improvements will remain an important and cost-effective means to achieve national, regional and international goals.
For further information, or to download the report, please visit the relevant IEA website.