Author: International Energy Agency
Source: International Energy Agency
From the New Deal to responses to blackouts, history teaches us that crisis times can result in salutary reforms. Recent international economic developments—namely the international financial and economic crisis, combined with the volatility of energy prices—threaten to jeopardize our economic well being and our ability to address other goals like climate change mitigation. However this need not be so. Governments can, and should, face these challenges by turning them into an opportunity to kick-start the long awaited low-carbon revolution. A central part of that revolution is energy efficiency, and the time for action in this area is now.
International Energy Agency’s (IEA) analysis shows that government policies can, and must, help the scaling up of investments in energy efficiency projects. Governments’ current framing of stimulus and rescue packages across multiple sectors of the economy—and most notably the finance sector through cash injection and guarantees—offer a great opportunity to encourage the financing and therefore implementation of key energy efficiency measures. These include the IEA’s own recommendations on energy efficiency.