New EU energy efficiency target will stimulate research and developmentCordis, July 31, 2014
The European Commission has proposed a new 30 % energy savings target for 2030 as part of its new vision on energy efficiency beyond 2020 laid out in a recent Communication. The aim is to move us towards a clear policy framework for energy efficiency that will provide predictability for investors and stimulate research and development in the area of energy efficiency and low-carbon technologies.
At the moment, the EU is on track to achieve energy savings of 18-19 % by 2020. Although we’re currently below the 20 % target, we are already benefitting from the drive towards greater energy efficiency. For instance, following the introduction of efficiency requirements in building codes, new buildings consume half as much energy today as they did in the 1980s. Meanwhile more efficient appliances are expected to save consumers EUR 100 billion annually on their energy bills by 2020. Member States have also committed to rolling out close to 200 smart meters for electricity and 45 million for gas by 2020, leading to greater savings for consumers.