March 24, 2010

Secretary of Energy Steven Chu - OpEd

Energy Efficiency: Achieving the Potential, Realizing the Savings
by Secretary of Energy Steven Chu
March 19, 2010

For the next few decades, energy efficiency is one of the lowest cost options for reducing US carbon emissions. Many studies have concluded that energy efficiency can save both energy and money. For example, a recent McKinsey report calculated the potential savings assuming a 7% discount rate, no price on carbon and using only "net present value positive" investments. It found the potential to reduce consumer demand by about 23% by 2020 and reduce GHG emissions by 1.1 gigatons each year -- at a net savings of US$ 680 billion.

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