Energy efficiency is sometimes said to be the cheapest ‘source’ of energy and with today’s vote in the European Parliament, this potential will not go unexploited in the years to come.
- The new directive will boost European energy efficiency tremendously, says Director of European Affairs of the Danish Energy Association, Ulrich Bang: »Especially now in a time of economic turmoil and fear of energy shortage it makes good sense to invest in energy savings that both have a short pay-back time and create growth and jobs in a market dominated by European enterprise and improves competitiveness as well as reduces Europe’s dependence on energy imports.
The directive as it is will only produce 15 percent energy savings by 2020, which is 5 percentage points short of the so-called 20-20-20 goals of the Commission. But Even though the directive fails to match the initial ambition of the initiative – 20 percent more energy efficient by 2020 – the Danish Energy Association assess 640 bn. euros will be invested in development, advice and deployment within the next eight years.
- The Danish Energy Association analysed the directive and found that about half the investments will be made in high-skilled technology development and advice, of which about 70 per cent will be in European enterprises, whereas the other half will be installation and renovation work, a market which is almost completely dominated by European SME’s. Energy efficiency will help create the jobs that are so desperately needed in the EU.
In basic terms the directive obligates the energy companies to deliver savings with their end-users, which creates demand for energy efficiency solutions.
- Ultimately, it’s about creating greater value for energy consumers across Europe. With the new directive, the savings will be made in the most cost-efficient way, since its market based, says Ulrich Bang, who praises the MEP’s work for the directive across political and national barriers.
The Energy Efficiency Directive will enter into force after it is formally signed on the next meeting in the Council formation of of Transport, Telecommunication and Energy Ministers.