Australia needs to be more energy efficient

Recent research indicates that Australia could add $26 billion to the economy by 2030 by increasing energy efficiency by just 1 per cent. The research, undertaken by Vivid Economics, says Australia is falling behind other countries losing tens of billions through poor investment in energy efficiency.

Climate Institute chief executive John Connor says improved energy efficiency is critical. He has suggested policies such as a national energy saving initiative, ambitious performance standards for vehicles and equipment and bipartisan support for a robust long term signal for low carbon investment.

The research, which encompassed countries such as Japan, China, South Korea, the US and Britain, illustrated that changes to manufacturing, resources, construction, freight and transport could save $3 billion per year by cutting energy use by 11 percent. This could be carried out through upgrading equipment, retrofitting buildings and recalibrating operational processes.

Mr Connor enforced that we need to get away from just upgrading light bulbs to reduce energy waste and expand to streamlining all processes and products.

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