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Overcoming Barriers to Investing in Energy Efficiency

image of Overcoming Barriers to Investing in Energy Efficiency

Energy efficiency is widely viewed as one of the most effective ways to achieve multiple economic, social and environmental benefits and is at a core of making significant progress towards Sustainable Development Goals (SDGs) and the Paris Climate Agreement. This publication presents the outcome of a survey among the energy efficiency practitioners on the challenges and solutions for overcoming barriers to energy efficiency investments. The primary geographic focus is the UNECE region comprising 56 member States from Western Europe (members and non-members of the European Union), North America (Canada and the United States), South-East Europe, Eastern Europe, the Caucasus, Central Asia, Israel, Turkey and the Russian Federation. This is a joint effort by the UNECE and the Copenhagen Centre on Energy Efficiency. The analysis of the survey and its conclusions and recommendations will serve as a useful tool for energy efficiency community. Policy makers can apply the results to the situation in their countries and find approaches to improve investment climate for energy efficiency.

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Introduction

Energy efficiency is widely viewed as one of the most effective ways to achieve multiple economic, social and environmental benefits and is at a core of making significant progress towards Sustainable Development Goals (SDGs). One of the targets (target 7.3) of SDG7 “Ensure access to affordable, reliable, sustainable and modern energy for all” is to double the global rate of improvement in energy efficiency by 2030. Energy efficiency has been called a low hanging fruit, a first fuel, and a multiple benefits provider. As stated in IEA (2016a), “All of the core imperatives of energy policy – reducing energy bills, decarbonisation, air pollution, energy security, and energy access – are made more attainable if led by strong energy efficiency policy.” It is estimated that two-thirds of the global economic potential for energy efficiency remains untapped (IEA (2016a)). In various economic sectors, economically viable untapped energy efficiency potential is estimated (for the 2011-2035 period) as follows: close to 2,000 Mtoe in the power sector, over 4,000 Mtoe in the industry and transport sectors, and over 5,000 Mtoe in the buildings sector (IPEEC 2017).

English French, Russian

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