by AF 0909a3 — September 11, 2009—The United States could reduce non-transportation energy consumption by 23% by 2020 by adopting energy efficiency technologies, according to a recent research report from McKinsey & Company.
The report notes that an estimated $520 billion up-front investment (not including program costs) would eliminate more than $1.2 trillion in wasteful energy use, while also providing a large-scale abatement of greenhouse gas emissions. The report also lists some significant barriers to energy efficiency gains, including the need for significant up-front spending in exchange for long-term benefits; the fragmented nature of such efforts that keep it from being a priority; and the difficulty in tracking and verifying energy that is not consumed.
To overcome those barriers, the McKinsey report calls for an overarching national strategy that will recognize energy efficiency as “an important energy resource;” launch a wide array of both proven and emerging approaches to efficiency; identify methods of providing significant up-front funding for investments in energy efficiency; forge stronger bonds among utilities, regulators, government agencies, industries, and energy users; and foster innovation in the next wave of energy efficiency technologies.
The potential energy savings could avoid 1.1 billion tons of greenhouse gas emissions, according to the report. For more information, see the summary, which links to the executive summary and the full report.
