Investments in energy efficiency can create 1.5 million jobs in America by 2030
- 23 September 2013
NEW YORK: Greater energy efficiency investments in the US can create 750,000 jobs by 2020 and up to 1.5 million jobs by 2030, according to a report published by Philips and Ecofys today.
Launched during the Opening Ceremony of Climate Week NYC by Harry Verhaar, Senior Director Energy & Climate Change at Philips Lighting, 'The benefits of energy efficiency -- why wait?', analyzes the economic benefits of energy efficiency in America.
Highlights from the report include the following:
- an energy efficiency achievement of 3% per year (up from the current of 1% per year) would reduce fuel bills in the US by US$300 per year in 2020, and US$550 billion by 2030
- greater energy efficiency investments will also save on capital cost, where the 2% improved electricity saves US$900 billion by 2030 in power production costs
- investments in energy efficiency can create 750,000 jobs by 2020, and up to 1.5 million jobs by 2030
Head of Global Public & Government Affairs at Philips Lighting, Harry Verhaar commented: "According to this Philips-Ecofys report, brought together for Climate Week NYC 2013, energy efficiency could reduce fuel energy bills in the US by $550 billion and create one million jobs by 2030."
He added: "LED lighting has a leading part to play in this energy efficiency push; full deployment of LEDs in the US could reduce electricity demand by the equivalent of 100 medium-sized power plants, while at the same time making our buildings and cities more attractive places to live, work and play."