Study: Energy efficiency saved US $800 billion last year

Energy efficiency in the United States has grown tremendously in the past few decades.

The American Council for an Energy-Efficient Economy, also known as ACEEE, released a new report today revealing how energy efficiency is saving the United States hundreds of billions of dollars each year, as it relates to economic activity and energy consumption.

According to ACEEE, it amounted to $800 billion in 2014, or about $2,500 per capita.

This efficiency is in addition to the many advances made throughout the past 35 years to make fuel economy and other energy sources more efficient. For example, ACEEE said the fuel economy of passenger vehicles has improved by more than 25% and energy losses in the electric transmission and distribution system been cut by a quarter.

“Energy efficiency has made great strides in the past 35 years, and we have learned many important lessons on how markets and policies can work together to advance it,” ACEEE Executive Director Steven Nadel said in a statement.

Looking towards the future, the report also reveals how if trends continue, there are large and cost-effective energy efficiency opportunities that can, by 2050, collectively reduce energy use by 40-60%.

 

Read the full article here.

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