A new report identifies end-use electricity efficiency as the most effective and most economical method to bring carbon dioxide emissions back to current levels by 2050. The analysis uses three scenarios - baseline, global stabilization to 2005 levels by 2050 (ACT), and global 50% reduction below 2005 levels by 2050 (BLUE) - to identify the costs and constraints of advancing the technologies needed for reaching a more sustainable energy future.

The 650-page Energy Technology Perspectives: Scenarios & Strategies to 2050 report was developed by the International Energy Agency (IEA) to provide guidance to the world’s energy ministries on setting political, scientific, and financial priorities to bring about a “revolution” in all aspects of energy production and use. Through 17 global “technology roadmaps,” the report seeks to communicate the research, development, and implementation timeframes, the global deployment requirements, and the main areas for policy action and international collaboration needed to guide each technology to its greatest impact potential.

The report finds that:

In both ACT and BLUE scenarios, energy efficiency improvements in buildings, appliances, transport, industry and power generation represent the largest and least costly savings. Next in the hierarchy of importance come measures to substantially decarbonise power generation… through a combination of renewables, nuclear power, and use of [carbon capture and storage (CCS)] at fossil fuel plants. In the BLUE …scenario, higher-cost options such as CCS in industry and alternative transport fuels need to be deployed.

In a discussion on Capital Hill today, Neil Hirst, Director for Energy Technology at IEA, explained how the report shows the need for “immediate policy action” and immediate financial support for short term, mid-term, and long term technology objectives. Mr. Hirst demonstrated that, on average across OECD countries, 2006 funding for energy research was 40% less than investments in the late 1970s and that this decrease in R&D funding was inconsistent with stated energy policy objectives. He also pointed to indications that the benefit of increased energy security could balance the $45 trillion needed to achieve the BLUE scenario.

The full report can be ordered via the IEA Bookstore. A hearing on the publication will be held by the Senate Energy & Natural Resources Committee on Wednesday, June 25 at 9:30 AM.

For further information about this topic, please contact Akin Gump.