European researchers have identified a new “fuel”that by 2030 will be more important than oil. It’s called energy efficiency − the drive to get more bang from each buck spent on power. If the European Union member states adopt a 40% energy efficiency target, the sum of energy savings and power from renewable sources such as wind and photovoltaics together would overtake the sum of all imported coal, oil and gas by 2030, according to a new study from the European Commission’s Joint Research Centre. With government encouragement, energy efficiency could become a “niche fuel” for investors at a time when fossil fuel prices are low. The drive to wean the community off carbon-based fuels could also lead to the creation of jobs and economic growth if the right investments were made in low-carbon technologies.
Climate News Network 20th March 2016 read more »