Energy efficiency has been forgotten as the easiest way to cut emissions.
That’s the warning from DNV GL, which says it is vital to improve the availability and uptake of energy efficient technologies and decrease the amount of energy consumed by individuals, corporations, and countries.
It says investment is lagging across the efficiency sector, which it calls “one of the four pillars of deep decarbonisation”, alongside increased electrification, reduced fossil fuel use and less non-combustion emissions such as methane leaks – this is an issue as more investment and innovation is needed to hit decarbonisation deadlines on time.
The organisation states that despite the “rapid uptake” of renewable energy witnessed around the world, the energy transition is still not moving fast enough to deliver the goals of the Paris Agreement.
It calls for new approaches in selling energy efficiency and suggests that promoting the non-energy benefits of efficient technologies, such as occupant comfort or accident reduction, can drive greater uptake.
DNV GL also says incentive policies, more stringent regulations, innovative financing structures and new technologies are essential in helping to slash emissions across buildings and manufacturing.
Ditlev Engel, CEO at DNV GL – Energy said: “Energy efficiency may not be the silver bullet to slowing climate change, but it is a secret weapon that is accessible to most and will accelerate the transition to a clean energy future.
“Strategies that enable individuals and companies to use less energy are one of the easiest, lowest-investment, and often simplest approaches to lowering carbon emissions, but we are seeing rates of adoption decline rather than speed up in some areas such as manufacturing and building design and operations.”