Global energy efficiency investments jump 16% YoY in 2022: IEA

It reached $560b this year.

Energy efficiency initiatives sped up globally with related investments such as building renovations, public transport and electric car infrastructure, reaching $560b in 2022, up by 16% year-on-year (YoY), according to the International Energy Agency.

In a statement, IEA said the global economy used energy 2% more efficiently than the previous year, improving by almost four-fold compared to the past two years, and almost double the rate of the past five years.

“The oil shocks of the 1970s led to a massive push by governments on energy efficiency, resulting in substantial improvements in the energy efficiency of cars, appliances and buildings,” said IEA Executive Director Fatih Birol. 

READ MORE: Reaching climate targets relies on swift reduction of global coal emissions: IEA

“Amid today’s energy crisis, we are seeing signs that energy efficiency is once again being prioritised. Energy efficiency is essential for dealing with today’s crisis, with its huge potential to help tackle the challenges of energy affordability, energy security and climate change,” he added.

The IEA also found that total energy bills in IEA countries in 2022 are set to be $680b less or around 15% of their total energy spending this year due to their energy efficiency efforts since 2000.

Energy efficiency progress slowed before the pandemic, it said. The IEA added that efficiency improvements need to grow around 4% annually on average to meet the net zero emission by 2050 scenario.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!