Study: Energy Consumption to Drop 5 to 15 Percent by 2020
September 27, 2011 11:57 AM
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The conclusions come from a survey of 50 government, academic and industry experts
It's common to walk into stores and see certain appliances with the Energy Star label, meaning these refrigerators and washing machines are energy efficient. Efforts such as this are made to reduce our
, and while the International Energy Outlook 2011 report from the U.S. Energy Information Administration predicts that worldwide energy will increase 53 percent by 2035, two economists say otherwise.
According to a paper written by economists Ahmad Faruqui and Doug Mitarotonda, who work for consulting firm The Brattle Group, the consumption of electricity will decrease 5 to 15 percent by 2020. The conclusions come from a survey of 50 government, academic and industry experts, according to
Faruqui and Mitarotonda say that the drop will occur due to Energy Star appliances, less usage of incandescent light bulbs, incentives that encourage users not to consume as much energy during peak hours (such as tiered pricing and
smart meter technology
), and other programs that raise awareness of people's energy consumption.
"The survey results clearly repudiate the notion that the age of energy efficiency has come to an end," wrote Faruqui and Mitarotonda in the paper. "On the contrary, they herald a new beginning for energy efficiency."
Faruqui and Mitarotonda referred to this age of energy efficiency as integrated demand-side management, or iDSM. This era, according to the economists, encompasses the above-mentioned practices taking place to lessen energy use.
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RE: Not a good thing
9/27/2011 4:52:17 PM
The only purpose money serves is to be spent. If you save it, it is so that later you can spend it when you need it. If you invest it, it is so that you can have more to spend later.
If the things people buy costs less, they buy more, thats life. To act otherwise is to live below your means, a path that few people would intentionally take. Cost isn't just about dollars, time/energy/stress/knowledge/sweat/blood is all have value and you need to consider that opportunity costs in matters like this.
Opportunity cost is one of the most important concepts in understanding the human condition. Just because you don't pay money for something doesn't mean it didn't cost you. Just because you got something for free doesn't mean it doesn't have value that you can leverage.
"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer
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