Latest IEA report highlights Australia’s untapped energy efficiency potential
A new International Energy Agency (IEA) report has highlighted the potential of energy efficiency to create jobs, cut bills and address climate change, but Australia can do much more to seize this opportunity, according to the Energy Efficiency Council.
The ten recommendations show how energy efficiency can play a central role in fixing the social and economic damage of the COVID-19 pandemic.
“A major drive to improve the energy efficiency of homes and businesses could create 120,000 job years of employment in Australia, while reducing cost-of-living pressures for businesses and households,” Energy Efficiency Council chief executive Luke Menzel says.
Luke says that action on energy efficiency would immediately help those economically affected by COVID-19 including households and businesses.
“However, in 2018 Australia was ranked the world’s worst performing developed country on energy efficiency. We must do better and seize this moment so that we can create thousands of jobs, lower energy bills, and slash emissions,” he adds.
Over the last month, multiple joint statements – including organisations as diverse as the Australian Council of Social Service, the Property Council of Australia, Australian Industry Group, the Business Council of Australia and Australian Council of Trade Unions – have called for state and federal governments to put energy efficiency at the heart of stimulus measures.
“There is near-universal support for energy efficiency as a key stimulus measure because projects can roll out rapidly, deliver a long term productivity dividend, slash emissions and are highly job intensive,” Luke explains.
“The Global Commission has called on governments around the world to show leadership, upgrading their own schools, hospitals and other public to save taxpayers money and create jobs straight away.
“Global experts have given us a plan. Now we need state and federal governments to invest at a speed and scale that match the magnitude of the economic challenge ahead of us.”