Quoted from the Carbon and Environment Daily:
A new study for the climate change department for the first time attempts to quantify the cuts in spending on ‘peak demand’ energy infrastructure that could be achieved by improving the efficiency of the nation’s homes, offices and factories.
Prepared by the Institute for Sustainable Futures and Energetics, the study says energy efficiency improvements could save up to an estimated $16.7 billion in energy infrastructure expenditure by 2020.
As well as delivering a net economic benefit of $1 billion a year, efficiency measures could eliminate all forecast growth in energy consumption and related greenhouse gas emissions from the nation’s building stock, says the report, which was completed last July but has only just been publicly released.
Up to 58% of peak demand growth eliminated
The study examines the extent to which improvements in lighting, air-conditioning, water heating and appliances could reduce peak demand in summer and winter.
It then quantifies the potential savings in avoided energy infrastructure spending under ‘moderate’ and ‘accelerated’ scenarios.
“For the key peak season of summer, the steep projected peak electricity demand growth is reduced by over 5,000MW in the moderate scenario and over 7,000MW in the accelerated scenario,” it says.
“This equates to the elimination of between 43% and 58% respectively of total summer projected peak demand growth to 2020,” it says.
The moderate scenario would deliver annual savings through avoided infrastructure costs of $2.4 billion, while the accelerated scenario would result in savings of $3.3 billion, it says.
Fuel savings add another $1 billion to $1.3 billion a year.