Energy Efficiency 2024 is the IEA's primary annual analysis on global energy efficiency developments, showing recent trends in energy intensity and demand, prices and policies. The report provides sector-specific analysis on buildings, appliances, industry and transport and explores system-wide them Contact online >>
Energy Efficiency 2024 is the IEA''s primary annual analysis on global energy efficiency developments, showing recent trends in energy intensity and demand, prices and policies. The report provides sector-specific analysis on buildings, appliances, industry and transport and explores system-wide themes such as electrification, flexibility, investment and employment. This report is launched in parallel with the new IEA Energy Efficiency Progress Tracker, which can be accessed directly through the IEA website.
At the COP28 summit at the end of 2023, nearly 200countries reached a landmark agreement to work together to collectively double the global average annual rate of energy efficiency improvements by 2030. This was the strongest recognition yet by governments of energy efficiency''s central role in clean energy transitions, providing an important focal point for greater national ambition and accelerated action. A year on from this historic agreement, however, this has yet to translate into faster efficiency progress, and a major step up in policy implementation is required.
Accelerating energy efficiency improvements can deliver over a third of all carbon dioxide (CO2) emission reductions between now and 2030 in a pathway aligned with reaching net zero emissions by 2050. This involves speeding up electrification and improvements in technical efficiency. From 2010 to 2022, improvements in energy intensity contributed to a cumulative reduction in global CO₂ emissions of almost 7gigatonnes (Gt).
However, policy implementation must accelerate to improve energy efficiency progress and align with global climate ambitions. For instance, around the world, almost half of newly built floor area is not yet covered by efficiency requirements, and the regulations in place vary significantly among countries in their scope and stringency. Similarly, just three out of five industrial electric motors in use globally are covered by minimum energy performance standards.
Shortages of skilled workers persist across key efficiency occupations, often risking delays in project implementation. They are most pronounced for heating, ventilation, air conditioning (HVAC) and heat pump installers, construction workers and electricians. Almost four out of five construction companies globally indicate they experience a shortage in skilled workers.Across the whole energy sector, women accounted for less than 20% of workers in 2023, compared with 39% of the global labour force, highlighting a potentially important means of expanding the efficiency workforce.
Emerging and developing economies will account for an increasing share of global energy demand. The implementation of strong efficiency policies can help meet climate goals while creating jobs, improving lives and reducing costs. China, India, Southeast Asia, Africa and Latin America together account for almost half of global energy demand today and are expected to see rapid growth in coming years, making them a major force in global energy efficiency progress.
The COP28 doubling goal is a global goal, and international co-operation can further enhance its achievement in varying economic, social and technological contexts. With governments currently preparing their next round of Nationally Determined Contributions (NDCs) under the Paris Agreement, there is a window of opportunity to ensure that ambitious energy efficiency measures are a central plank of long-term national plans. NDCs are an important focal point of international discussions and signal ambition on energy efficiency to other governments and investors.
To increase visibility of energy efficiency and progress towards the global target, the IEA is launching a new Energy Efficiency Progress Tracker. This extends the analysis of Energy Efficiency 2024 to provide detailed insights around the most up-to-date regional indicators on energy efficiency progress, such as energy intensity, demand and the level of electrification.
The policies and technologies required to accelerate efficiency progress are available today, but implementation needs to speed up across the world to reach global goals. The IEA publishes Energy Efficiency Policy Toolkits to help policymakers with concrete tools. An integrated policy approach – combining regulations, information and incentives – is the most effective way to realise progress across all sectors.
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