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
9/28/2011 11:03:56 AM
One factor that has been overlooked is the value of your country's currency in comparison to the rest of the world. If your country has a strong currency then imported fuels are cheaper than if your country has a weak currency.
This, in turn, has flow on effects that would be less significant if the currency was strong.
If we take the USA as an example, the weakening of its currency has meant the cost of imported fuel has risen in comparison to if the dollar was strong. Not being familiar with the situation there, and not knowing the amount of locally produced fuels, it would surprising if the cost the end user had not risen. Even if the cost internationally of producing fuel had remained constant, the cost to the American user would still have gone up (unless they had close to 100% of locally produced fuel), but the cost internationally of producing fuel has risen (because of supply and demand issues), so one would expect the cost to the end user has probably gone up far more than the amount the currency weakened by.
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