IEA: Improving energy efficiency is urgent

With current energy security, energy price challenges intertwined with the climate crisis, improving energy efficiency is more urgent
than ever.
The International Energy Agency's (IEA) Annual Global Energy Efficiency Conference in early June focused on how to take swift steps to reduce energy consumption, reduce cost pressures on consumers, reduce dependence on fuel imports and drive progress towards climate goals, while supporting job creation and economic growth
.

Improve energy efficiency

Considered a top priority

Energy efficiency plays a vital role in the energy industry's service to the world, and is called the "first fuel"
by the IEA.

IEA Director Fatih Birol said: "Energy efficiency is a key solution to many of the world's most pressing challenges, and it can also make energy supply more affordable, safer and more sustainable
.
Efficiency is at the heart of today's global energy crisis, which is crucial
.
He called for the meeting to be an important opportunity
for the global community to strengthen their focus on energy efficiency.
Without early action to improve energy efficiency, the cost of the energy transition will be higher and more difficult to achieve
.

In the 2021 IEA "Global Energy Industry 2050 Net Zero Emissions Roadmap", it was predicted that in 2030, the world economy will grow by about 40% compared with 2021, but energy consumption will be reduced by 7%, and it is necessary to vigorously improve energy efficiency
on a global scale.

At this meeting, the IEA once again stressed that with improved energy efficiency, the final energy demand will be reduced by about 5% by 2030, but the size of the economy will grow by 40%.

Technological advances

Play a key role

The IEA has pointed out that achieving the 2050 net-zero emission target depends on the promotion of clean energy technologies by 2030
.
Advanced battery technology, hydrogen energy and the capture of carbon dioxide directly from the air will usher in greater development opportunities
.
At the same time, more efficient buildings, automobiles or industrial facilities, for example, will require less energy to achieve the same functions
.

Even in the case of economic growth, faster adoption of measures related to improving energy efficiency could avoid energy consumption of 95 EJs per year by 2030
.
Without the application of these measures, final energy demand could increase by 18%
in 2030.
Between 2020 and 2030, improved energy efficiency will reduce global carbon dioxide emissions by another 5 billion tonnes per year, accounting for about one-third of the total emission reductions in the IEA net zero emissions scenario for 2020-2030
.

The IEA calls for all industries around the world to contribute to improving energy efficiency, and that technological progress will play a key role
.
Elements to improve energy efficiency include improved technical efficiency, implementation of electrification, behaviour change and energy conservation
.

The latest analysis from the IEA shows that all industries around the world will have significant opportunities
for improving energy efficiency.
Most of these opportunities involve off-the-shelf technologies, especially in today's high energy price conditions, where accelerating return on investment costs by reducing operating costs is even more important
.
By 2030, initiatives such as the adoption of more efficient equipment and the development of digital technologies will help improve energy efficiency
.
Investment in related technologies will also increase, including in the areas of new construction and building renovation, manufacturing and transport infrastructure, to create 10 million jobs
by 2030.

Transportation and construction sectors

The greatest potential for reducing emissions in the short term

At the conference, the IEA analyzed that under the net-zero scenario, the construction sector will see the largest decline in energy demand by 2030, but the transportation sector
with the greatest potential to reduce energy consumption.
Improving material efficiency in heavy industry and electrifying manufacturing will help control energy demand growth
by 2030.

The IEA predicts that under the net zero emission scenario, building energy consumption will decline by more than
20% between 2020 and 2030.
Including replacing fossil fuel boilers with electric heat pumps and replacing the use of solid biomass with more efficient and cleaner alternatives (such as wood and charcoal for cooking) will help to clean cooking fuels by 2030, which is a content
with far-reaching social and economic benefits.

The analysis shows that in the construction sector, improving energy efficiency will help reduce carbon dioxide emissions by about 37 EJ by 2030, equivalent to about 12 billion tons of emissions from direct burning of fossil fuels
.
At the same time, improving efficiency will help global households save at least $650 billion a year in energy bills
.