IEA forecasts 9% drop in energy efficiency in 2020
Construction of new houses, other buildings is likely to slow down
image for illustrative purpose
More than 60 per cent of the funding for energy efficiency-related measures in stimulus packages announced by governments to date has focused on either the buildings sector or on accelerating the shift to electric vehicles, including new vehicle charging infrastructure
New Delhi: The already sluggish pace of global progress on energy efficiency is set to slow further this year due to the economic impacts of the Covid-19 crisis, deepening the challenges of reaching international energy and climate goals and making stronger government action critical, a new report by the International Energy Agency (IEA) said on Thursday.
Global primary energy intensity a key indicator of how efficiently the world's economic activity uses energy is expected to improve by less than one per cent this year, the weakest rate since 2010, according to Energy Efficiency 2020, the latest edition the IEA's annual update on efficiency trends. This is well below the level of progress needed to achieve the world's shared goals for addressing climate change, reducing air pollution and increasing access to energy.
The disappointing trends are being exacerbated by a plunge in investments in energy efficient buildings, equipment and vehicles amid the economic crisis triggered by the pandemic, the report finds. Purchases of new cars, which are more efficient than older models, have slowed, while construction of new, more efficient homes and other buildings is also expected to decelerate. More than 60 per cent of the funding for energy efficiency-related measures in stimulus packages announced by governments to date has focused on either the buildings sector or on accelerating the shift to electric vehicles, including new vehicle charging infrastructure.
