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U.S. Businesses and Individuals Invest in Energy Efficiency
Energy efficiency investments occur in virtually every sector of the economy. When combined, their total number is substantial---estimates range from about $60 to $115 billion a year in the United States. In this post, we look at some recent estimates of energy efficiency spending, updating and expanding information we compiled earlier this year so that we may better understand the magnitude of these investments and where they occur. These findings provide a foundation for two subsequent posts we will publish in the next month on "Who invests in energy efficiency and why?" and "How can we increase energy efficiency investments?"
IEA World Energy Investment Report
Last week, the International Energy Agency (IEA) released its World Energy Investment report, covering 2016 global energy investments. IEA estimates that $231 billion was invested in energy efficiency products and services worldwide, a 9 percent increase from its 2015 estimate. For the first time, the agency provides an estimate of efficiency spending in just the United States: $41 billion. IEA does not provide a sector breakout for the United States, but worldwide, it estimates about 58% of these investments is in buildings, about 26 percent is in transportation, and 16% is in industry. While IEA includes the full cost of building envelope retrofits in its estimates, it includes only the incremental costs for high-efficiency equipment and industrial processes. For example, if a high-efficiency air conditioner costs 10% more than a conventional air conditioner, IEA counts only 10 percent of the total cost...
To continue reading the blog post, visit: http://aceee.org/blog/2017/07/how-many-billions-do-us-businesses