Global primary energy intensity, an important indicator of how heavily the world’s economic activity uses energy, improved by just 1.2 percent in 2018, the slowest rate since the start of this decade, according to the Energy Efficiency 2019 analysis by IEA
November 05, 2019. By News Bureau
The rate of progress in global energy efficiency for 2018 was the bottommost in a decade, a trend that has major repercussions for consumers, businesses and the environment, according to a new report by the International Energy Agency (IEA).
Global primary energy intensity, an important indicator of how heavily the world’s economic activity uses energy, improved by just 1.2 per cent in 2018, the slowest rate since the start of this decade, according to the Energy Efficiency 2019 analysis by IEA.
The rate of improvement has now declined for three years in a row, leaving it well below the 3 per cent minimum that is central to achieving global climate and energy goals.
"If the rate had reached 3 per cent over that period, the world could have generated a further $2.6 trillion of economic output – close to the size of the entire French economy, for the same amount of energy," IEA said in a statement.
Energy Efficiency 2019 studied the reasons for the recent deceleration in efficiency progress and found that it results from a mixture of social and economic trends, combined with some specific factors such as extreme weather.
At the same time, policy measures and investments are failing to keep pace with the rising energy demand. This means that new ways of policy thinking that move beyond traditional approaches are required, particularly to maximize the potential efficiency gains from the rapid spread of digital technologies throughout economies and energy systems.
The report includes a special focus on the ways in which digitalization is transforming energy efficiency and increasing its value. By multiplying the interconnections among buildings, appliances, equipment and transport systems, digitalization is providing energy efficiency gains beyond what was possible when these areas remained largely disconnected.
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