According to the International Energy Agency, energy efficiency finance is becoming an established market segment in its own right. A new report from the IEA revealed that the global energy efficiency market is worth at least USD 310 billion a year and growing, confirming the position of energy efficiency as the world’s “first fuel”.
The Energy Efficiency Market Report 2014 estimates that investment in energy efficiency markets worldwide in 2012 was between USD 310 billion and USD 360 billion. The report also found that investment in energy efficiency was larger than supply-side investment in renewable electricity or in coal, oil and gas electricity generation, and around half the size of upstream oil and gas investment.
The report also finds that energy efficiency finance is becoming an established market segment, with innovative new products and standards helping to overcome risks and bringing stability and confidence to the global energy market.
“Energy efficiency is the invisible powerhouse in IEA countries and beyond, working behind the scenes to improve our energy security, lower our energy bills and move us closer to reaching our climate goals,” IEA Executive Director Maria van der Hoeven said at the Verona Efficiency Summit as she launched the IEA’s Energy Efficiency Market Report 2014.
Click here to learn more about what the findings tell us.