Details
- Publication date
- 30 November 2021
Description
Energy Efficiency 2021 is the IEA’s annual publication on global developments in energy efficiency, policy and investment areas, exploring recent trends in energy efficiency markets.
IEA's annual publication on the developments on energy efficiency, the Energy Efficiency 2021 report, focuses on the role of energy efficiency in achieving net-zero in the energy sector by 2050. The report examines the crucial role of efficient appliances and equipment, as well as all major energy efficiency targets in buildings, transport and industry. In addition, the report analyses recent trends in digital innovation, exploring how digitalisation is expanding the scale and scope of energy efficiency markets and how business models are evolving to take advantage of these opportunities.
One of the key findings suggests that, compared to 2020, energy efficiency has improved globally in 2021, however, the rate of advancements need to at least double to achieve net-zero by 2050. Even though it is still unclear whether this year’s improvements translate into a sustained recovery, increased investment trends, rising government spending on efficiency, the announcement of new climate targets and other policy measures signal a possible structural change. Government policies are expected to induce a 10% rise in energy efficiency investments in 2021, however, to reach the targets in the IEA Net Zero Emissions by 2050 Scenario, the overall annual investment would need to triple by 2030. As a source of economic development and growth, a prompt policy focus on energy efficiency would triple the number of jobs created by 2030 through increased spending on building retrofits, more efficient appliances and other measures, according to the IEA Net Zero Emissions by 2050 Scenario.
What is hopeful in the analysis is that in the last two years, energy efficiency investment in buildings reached record levels. Investment in energy efficiency measures in buildings is expected to rise in 2021 by 20% compared with 2019.
Source: IEA
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