Energy Efficiency Potential Not Fully Utilized, Despite Success

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, according to a recent study by the
American Council for an Energy-Efficient Economy (ACEEE).
 
However, the report, “The Size of the U.S. Energy Efficiency Market:
Generating a More Complete Picture,” concludes that the U.S. is not aware of
the role that energy efficiency has played in satisfying the growing
energy-service demands; the contributions of efficiency often go
unrecognized. The report also notes that although efficiency is a proven
resource, it remains underdeveloped.
 
Key report findings include:
 
- Given the right choices and investments in the cost-effective but
underutilized energy-efficient technologies, the U.S. can cost-effectively
reduce energy consumption by an additional 25-30 percent or more over the
course of the next 20-25 years
 
- Annual investments in energy-efficient technologies currently support 1.6
million U.S. jobs; The $300 billion invested in energy efficiency in 2004
was three times the amount invested in traditional energy infrastructure
 
- Investments in energy-efficient technologies are estimated to have
generated approximately 1.7 quads of energy savings in 2004 alone — roughly
the equivalent of the energy required to operate 40 mid-sized coal-fired or
nuclear power plants
 
- Since 1970 energy efficiency has met about three-fourths of the demand for
new energy-related services while conventional energy supply has covered
only one-fourth of this demand
 
- Total investments in more energy-efficient technologies could increase the
annual energy efficiency market by nearly $400 billion by 2030, resulting in
an annual efficiency market of more than $700 billion and total additional
investments over the period 2008-2030 of nearly $7 trillion.

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