Energy efficiency improvement offers significant cost saving
Energy efficiency policies across sectors can help to achieve substantial energy savings by reducing the need for investment in energy infrastructure as well as reducing fuel costs and vulnerability to fossil fuel prices. Policymakers should improve energy efficiency strategies by including well defined best practice policies, implementation timelines and enforcement.
Achieving the recommended SDG 7 target of 3.8 MJ/$ by 2030 will require a 2.9 per cent reduction in energy intensity per year, up to 2030. This equates to reducing TFEC of 455 ktoe by 2030, compared to the current policy scenario. NEXSTEP analysis has identified several measures in supporting this reduction across the residential, transport, industrial and commercial sectors.