IEA (2023), Energy Efficiency: The Decade for Action, IEA, Paris https://www.iea.org/reports/energy-efficiency-the-decade-for-action, License: CC BY 4.0
1. Global energy efficiency progress reached 2.2% in 2022, twice the average over the previous five years.
2. Global energy demand grew by around 1% in 2022. Without progress on energy efficiency, this would have been almost three times higher.
3. Energy efficiency policies have strengthened globally in the past year. Countries representing over 70% of the world’s energy consumption have introduced new or strengthened efficiency policies since the start of the global energy crisis.
4. Governments have supported energy consumers. Over 25 countries launched major awareness campaigns to help reduce energy, and over USD 900 billion has been spent shielding consumers from rising energy bills.
5. Sales of key efficiency technologies are surging. Heat pump sales increased by over 10% globally in 2022, and by nearly 40% in Europe. The share of EVs in global car sales in 2022 was 14% and is expected to rise to 18% in 2023.
6. Efficiency investment is expected to reach record levels in 2023, to over USD 600 billion, though growth is slowing due to increased cost of capital.
7. Doubling efficiency improvement to above 4% per annum this decade, to align with the IEA’s Net Zero Scenario, would lower global energy demand by 190 EJ and CO2 emissions from fuel combustion by almost 11 Gt by 2030, almost one third of current global energy consumption and emissions.
8. Accelerating implementation of all existing policies. If all currently announced efficiency commitments are implemented quickly and fully, they, along with existing policies, will deliver three quarters of the doubling goal by 2030.
9. Accelerating efficiency carries additional benefits. Doubling efficiency progress by 2030 will enhance energy security, create an additional 12 million jobs, and help bring access to electricity to more than 800 million people.
10. Tripling annual efficiency-related investment for an energy efficient future. Achieving the goal of doubling the rate of progress will require a tripling in annual efficiency-related investment, from USD 600 bn today to USD 1.8 trillion by the end of the decade.