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Efficiency improvements could cut global energy demand growth significantly mongabay.com November 29, 2006
McKinsey says that worldwide energy demand could grow at a rate of 2.2 percent per year, driven by growth in by developing economies, but that efforts to boost energy productivity could cut end-use energy demand 15 to 25 percent by 2020. In order to do so, says the study, a number of factors currently impeding improvements in energy productivity -- "market-distorting subsidies, information gaps, agency issues, and other market inefficiencies" -- must be overcome. McKinsey notes that
McKinsey argues that energy productivity improvements will require "the removal of existing policy distortions; improving transparency in the pricing and usage of energy; and the selective deployment of demand-side energy policies, such as standards." Further, the report says that policies will have to be tailored to end-users encourage more efficient energy use. McKinsey's report is titled "Productivity of Growing Energy Demand: A Microeconomic Perspective". McKinsey & Company is a leading global consulting firm. RELATED Energy efficiency helped California grow an extra $31 billion finds study Environmental officials for the state of California and the Brazilian state of Sao Paulo have found significant evidence that greenhouse gas pollution can be substantially reduced at a profit rather than a cost. The study, commissioned by the William and Flora Hewlett Foundation, found that energy efficiency has helped the California economy grow an extra 3 percent - a $31 billion gain - compared to business as usual. Further, the researchers say that each Californian typically saved about $1,000 per year between 1975 and 1995 just through efficiency standards for buildings and appliances. This article is based on a news release from McKinsey & Company. Recommend this article? Comments? >Digg this article | >Hugg this article | Contact News options
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