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New study on the benefits of a higher EU Energy Efficiency target

The Coalition for Energy Savings recently published, in collaboration with Cambridge Econometrics, a study demonstrating the multiple benefits of a 2030 target

New study on the benefits of a higher EU Energy Efficiency target

At a critical moment in the negotiations of the Energy Efficiency Directive recast, the study provides evidence of the multiple benefits that setting a higher energy efficiency target at EU-level, as proposed by the European Parliament, could foster. The negotiations occur at a time where the need for more energy savings and energy efficiency is pressing, and the study provides data supporting the momentum around higher energy efficiency targets.

A context of climate and energy emergency

The recast of the Energy Efficiency Directive takes place in a context where debates on energy efficiency targets have never been more relevant. For instance, the energy prices crisis, the geopolitical turmoil related to the war in Ukraine, the very hot summer in Europe and the foreseeable cold winter demonstrate the importance to act on all fronts to make the whole European continent fit for a faster clean energy transition. This will allow to offer more energy security to European households, while meeting the EU’s targets regarding carbon neutrality and independence from Russian fossil fuels.

And this starts with lowering energy demands through more ambitious policies and actions towards energy efficiency.

The need for a more ambitious energy efficiency target for the continent

The study explores three models based on different levels of ambitions: a 9% target according to the Council’s general approach, a 13% target presented by the European Commisison in the REPowerEU plan and a 14.5% target supported by the European Parliament.

The findings of the study reveal that the 14.5% target would be fostering positive advances with environmental, economic and social benefits in the EU including:

  • A significant reduction of energy expenditures with 120 billion euro savings in energy and transport expenditures for the whole EU and a reduction of energy bills benefitting the poorest households
  • A large reduction of fossil fuel imports expenditures, and thus a step forward to cleaner energy mixes and more energy security
  • An estimation of 752,000 more jobs created by 2030, with this increase particularly concentrated in sectors producing energy efficiency goods and services
  • An increase of the GDP and monetary wealth on the continent

The study contributes to central debates in the context of the recast of the Directive and demonstrates that energy efficiency is a means to answer many current and future issues.