$470b smart energy market within Australia’s grasp

Australia can tap into the $470 billion global energy efficiency market, while delivering cheaper energy bills, healthier buildings and a cleaner environment, the Energy Efficiency Council (EEC) has said.

Launching a newAustralian Energy Efficiency Policy Handbook today, EEC CEO Luke Menzel said smart energy use can drive economic growth by improving productivity and resource efficiency while lowering energy costs.

“Energy efficiency has become a major global issue over the past decade, and has gained significant momentum in Australia in the last year,” Mr Menzel said.

“The Australian Government has set a target to improve energy productivity by 40 per cent by 2030 – but on our current trajectory we will fail to meet this target.

“We need serious reforms to unlock the full benefits of energy efficiency.”

The handbook aims to kick-start debate on the actions necessary to meet Australia’s national target of improving energy productivity by 40 per cent by 2030. It also sets out a suite of evidence-based recommendations.

“We want to spark genuine debate among businesses, academics, governments and the broader community, and to build consensus on what constitutes sensible, stable energy efficiency policy in Australia,” Mr Menzel said.

“Australia’s rate of energy efficiency improvement continues to fall behind other developed economies. We need strong government leadership, and new energy efficiency policies that remove barriers and correct well-known market distortions.

“Real effort to improve energy efficiency is essential to limit increases in energy bills and tap into the global economic opportunities that are emerging as we move towards a carbon zero world.”