$470 billion smart energy market within Australia’s grasp 19 July 2016

Australia can tap into the $470 billion global energy efficiency market, while delivering cheaper energy bills, healthier buildings and a cleaner environment, says the Energy Efficiency Council (EEC).

Launching a new Australian Energy Efficiency Policy Handbook today, EEC Chief Executive Officer Luke Menzel says smart energy use can drive economic growth by improving productivity and resource efficiency while lowering energy costs.

“Energy efficiency has become a major global issue over the past decade, and has gained significant momentum in Australia in the last year,” Mr Menzel says.

“The Australian Government has set a target to improve energy productivity by 40 per cent by 2030 – but on our current trajectory we will fail to meet this target.

“We need serious reforms to unlock the full benefits of energy efficiency.”

Mr Menzel says the Australian Energy Efficiency Policy Handbook aims to kick-start a discussion about the actions necessary to meet Australia’s energy productivity target, and sets out a suite of evidence-based recommendations.

“We want to spark genuine debate among businesses, academics, governments and the broader community, and to build consensus on what constitutes sensible, stable energy efficiency policy in Australia,” he adds.

"Australia's rate of energy efficiency improvement continues to fall behind other developed economies. We need strong government leadership, and new energy efficiency policies that remove barriers and correct well-known market distortions,” Mr Menzel explains.

“Real effort to improve energy efficiency is essential to limit increases in energy bills and tap into the global economic opportunities that are emerging as we move towards a carbon zero world.

“Australia is at the cusp of a new global wave of investment in energy infrastructure – it’s up to us to make the most of the opportunities to grow our economy, create jobs and cut emissions,” Mr Menzel concludes.

The Australian Energy Efficiency Policy Handbook was launched today at a leaders’ forum. Speakers at the forum included Dr John Hewson AM and David Hochschild, Commissioner of the Californian Energy Commission.

The Australian Energy Efficiency Policy Handbook can be downloaded by clicking here.