The European Union has introduced an energy savings goal of 30% by 2030. This new goal is 5% above the current energy efficiency target of 25% for the same period. The EU also says that its current goal of 20% by 2020 can be reached if all member nations implement the agreed-to climate change mitigation legislation.
It is still to be decided whether the target will be implemented at the EU-wide basis, or at a more local country-by-country basis. The new target is aimed at helping member states to decrease their dependence on fossil fuels, as every 1% in energy savings is expected to translate into a fall in gas imports of 2.6%.
The new target is also aimed at sending the right signal to the market and encouraging further investments in energy efficiency technologies, the EU Energy Chief maintains.
According to the American Council for an Energy-Efficient Economy (ACEEE), Europe already leads the world in energy efficiency. Germany is currently ranked number 1 in the world for energy efficiency, followed by Italy, and then the overall European Union in 3rd place; China is ranked 4th, with the United States 13th – near the bottom of the world’s 16 largest economies, thanks to its dominant and ingrained car culture.