Energy efficiency can make a larger contribution towards stabilizing energy prices and reducing greenhouse gas emissions — should we choose to fully develop it, according to the American the Council for an Energy-Efficient Economy (ACEEE) (vie RedOrbit).
The report, titled “The Size of the U.S. Energy Efficiency Market: Generating a More Complete Picture,” shows that U.S. energy consumption (as measured per dollar of economic output) will have been slashed by the end of 2008 to half of what it was in 1970 — from 18 thousand BTUs to about 8.9 thousand BTUs.
The report also shows that by investing in cost-effective but underutilized energy-efficient technologies in the future, the United States can cost-effectively reduce energy consumption by an additional 25 to 30 percent or more over the course of the next 20 to 25 years.
Interestingly, while the building industry accounts for 39 percent of total U.S. energy consumption, it received 62 percent of total efficiency investments.
Utility companies are taking advantage of the surge of power in the energy efficiency market. Efficiency Vermont, has helped close to 60 percent of the state’s electricity customers in seven years, and Delaware has said it will launch its Sustainable Energy Utility.