Efficiency Worth More Than Renewables at $310 Billion, IEA SaysBloomberg, October 8, 2014
Investments in measures to curb energy waste and boost efficiency are overtaking wind and solar spending and have reached at least $310 billion a year, the International Energy Agency said.
That’s almost $100 billion higher than investment in renewable energy in 2013, which amounted to $213 billion, according to estimates from Bloomberg New Energy Finance.
Demand dropped as much as 5 percent from 2001 to 2011, largely due to investments in efficiency, the Paris-based agency said today in a report, which studied countries including the U.K., U.S. and Japan. Savings in 11 nations in 2011 were equivalent to displacing a continent’s energy demand, it said.