ClimateWorks partners with government and business to identify opportunities to improve energy efficiency in the built environment, industry and transport. These opportunities focus on existing technologies and best practice process improvements. Typically, energy efficiency delivers financial savings to businesses and households, even after taking account of any upfront costs.
Investing in energy efficiency can deliver substantial economic benefits for all Australians. Despite this, many energy efficiency opportunities are not expected to be taken up under business-as-usual. A range of barriers currently prevent their capture, including constraints on the availability of capital for energy efficiency projects, a lack of information or skills, or market barriers such as the tenant/landlord 'split incentive'.
We seek to work with partners to find solutions that address these barriers, to ensure we can all benefit from the transition to a low carbon economy.
Key opportunities include:
- Improving the energy efficiency of Australia's commercial buildings could save $2.3 billion per year across the national economy, while cutting emissions by 23 million tonnes per year
- Purchasing high efficiency appliances at the time of natural replacement can cut household energy bills by $471 million per year while saving over 2 million tonnes of emissions per year
- Improving the energy efficiency of industrial processes and equipment across Australia can deliver 23.9 million tonnes of emissions savings every year, while saving businesses $1.7 billion