Energy efficiency a $7.7 billion opportunity

energy efficiency

A new report by the Energy Efficiency Council, Energy Savings Industry Association and Green Energy Markets has found that improving the energy efficiency of Australian homes and businesses would slash $7.7 billion a year off energy bills and create the equivalent of 120,000 full time jobs.

The report – Energy Efficiency Employment in Australia – also found that better efficiency would cut household gas use by 640 million gigajoules over a decade; the equivalent of a large gas field.

“Energy efficiency is a huge opportunity – we can cut households’ and businesses’ energy bills by $7.7 billion a year,” head of policy at the Energy Efficiency Council Rob Murray-Leach said.

“Improving energy efficiency will also create thousands of jobs across the economy, making Australia cleaner, fairer and more affordable.”

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President of the Energy Savings Industry Association Rod Woolley said, “… efficiency schemes at the state level have been effective in helping homes and businesses cut energy bills and driving investment and innovation in clean technology”.

“These schemes must be scaled up and implemented nationwide to maximise their benefits for homes, business, and industry; failure to do so is leaving money on the table,” he said.

The report noted that energy efficiency is already Australia’s largest ‘energy employer’, employing 25 per cent more people than coal mining. About 500,000 electricians, architects and engineers spend some of their time working on efficiency, which adds up to 59,000 full-time jobs in the sector.

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“Energy efficiency is an obvious job creator compared to other energy-related sectors because Australia has millions of buildings and pieces of energy-consuming equipment,” director – Advisory, Green Energy Markets Tristan Edis said.

“As Australia searches for solutions to drive a just transition away from polluting, expensive and unreliable energy sources, accelerating … efficiency improvements is a smart and economical way to get the job done.”

Read the full report here.